Monterey Real Estate Market Overview
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Location and Weather
Monterey is a scenic coastal city in Monterey County, on the southern edge of California’s Central Coast. Just 75 miles south of San Jose, Monterey is bordered by the Pacific Ocean, which contributes to a large part of the city’s cultural and recreational activities. The main attraction in Monterey is the Monterey Bay and the Monterey Bay Aquarium. Winter whale-watching ecotours are popular here, along with drives up the scenic coast.
Monterey summers are short, comfortable, and clear, while the winters are cold and cloudy. Summer temperatures are in the high 60’s, with lows in the mid-50’s. The winter temperatures are in the 60’s, with lows in the mid-40’s.
Population, Job Market and Cost of Living
Monterey’s population in 2019 was 28,671, with a growth rate of 3.0%.The job growth has increased by 1.75% over the last year and in ten years, is predicted to have increased by 33.06%.The major industries are in accommodations, food services, educational services, healthcare and social assistance. The largest employers are Community Hospital of the Monterey Peninsula, Nova Management, Naval Postgraduate School, Excelligence Learning and CTB/McGraw Hill. The cost of living is high, due to the real estate market, desirable location on the Pacific coast, and cost of available housing.
With stunning views, mild California weather, attractions like Monterey Bay and the Monterey Bay Aquarium, Monterey will continue to attract those that seek a coastal lifestyle on the bay.