Buying in Monterey County? An Area-by-Area Guide with Pete Ruiz
Monterey County offers everything from $700,000 starter homes in Seaside and Salinas to $50 million estates in Pebble Beach, and the right area depends on how you plan to live. To break it all down, I sat down with Pete Ruiz of Ruiz Group, whose team serves Monterey County and San Benito County. Over the last 12 months, Pete and his team closed 140 transactions and $200 million in sales volume.
Pete and I worked together on a deal at the Holman Building in Pacific Grove, and I saw firsthand how well he knows this market. In this episode he walks through the county from north to south and explains what each area offers in lifestyle, price points, schools and whether it leans toward primary homes or second homes. Here is what I learned.
Monterey County, Area by Area
Marina
Marina is the northernmost city in Monterey County, built partly on the former Fort Ord military base. Builders like KB Home and Shea Homes are now developing new neighborhoods there. Original 1950s to 1970s ranch homes sell for roughly $800,000 to $1 million, while the new developments run from the $800,000s up to about $2.5 million.
Marina is a primary home market. Pete is seeing more Silicon Valley workers buy there because Highway 1 puts them about an hour to an hour and 10 minutes from work. Locals like it too, since the Monterey Peninsula is only 10 to 15 minutes away. Most daily shopping is right in town, including Target and a new Trader Joe's.
Seaside
Seaside is one of the most accessible entry points into the Monterey Peninsula, especially for first-time buyers. Older homes from the 1950s to 1970s sell for about $700,000 to $1.4 million, depending on views. Some hillside neighborhoods have full, unobstructed views of Monterey Bay.
The one major new development is Shea Homes at the Bayonet and Black Horse golf courses, where larger homes trade for $2 million to $2.8 million. With almost no land left to build on, Seaside is turning over as younger families buy older homes and update them. Pete sees buyers purchase in the low $800,000s, refresh paint, flooring and landscaping, and end up with a home worth in the $900,000s, or over $1 million with views. Costco, Target and the other big box stores for the peninsula are here, and you are about 15 minutes from Carmel and Pebble Beach.
Monterey
Monterey is mostly a primary home market, but more second home buyers are showing up. The city dates back to the early 1900s, and new construction only happens when someone scrapes and rebuilds an existing lot. Monterey Regional Airport has direct flights to places like Texas, Seattle and Phoenix.
Prices vary a lot by pocket:
Downtown and Spaghetti Hill, the old Italian fishing neighborhood above Alvarado Street: about $1 million to $3 million, depending on views.
New Monterey, toward Pacific Grove and above Cannery Row and the Monterey Bay Aquarium: about $1.2 million to $2.5 million.
Out toward the airport and Highway 68: larger estate homes on acreage, some selling for $5 million to $6 million.
For second home buyers, Monterey is a way to get onto the peninsula for much less than Carmel while still being about 10 minutes away.
Carmel-by-the-Sea
Carmel-by-the-Sea is about 90 percent second homes, many owned by Silicon Valley buyers who drive down for the weekend and walk everywhere. A typical lot is 4,000 square feet, and the maximum home size on that lot is about 1,600 square feet with a one-car garage. Expect to pay roughly $1,800 to $5,000 per square foot, so a $4 million cottage is not unusual.
Two things drive value: distance to the beach and distance to Ocean Avenue, where the shops, galleries, restaurants and wine tasting rooms are. Pete says each block closer to the water can add $500,000 to $1 million in value.
Carmel Valley
Carmel Valley is Carmel with more space and more sun. Pete compares it to Woodside or Portola Valley in the Bay Area, with acreage, horse properties and warmer weather above the fog. Prices run closer to $600 to $1,500 per square foot, and you get a bigger home on a more usable parcel.
It draws both second home buyers and full-time families, largely because it sits in the Carmel School District. Carmel Valley Village is also growing, with boutique shops, restaurants and wine tasting.
Carmel Highlands
Carmel Highlands sits about 10 minutes south of Carmel-by-the-Sea on the way to Big Sur, next to Point Lobos State Natural Reserve. You get larger lots, larger homes and ocean views with dramatic cypress trees and rocky coastline. The weather is cool and foggy, which is a plus for buyers escaping the heat in Texas or the Central Valley.
Homes range from about $2 million to $40 million. The area made headlines when Brad Pitt reportedly paid $40 million for a 1920s stone estate on about three acres along the water.
Pebble Beach
Pebble Beach, also called Del Monte Forest, ranges from just under $2 million near the entrance gate to $50 million or more. It is mostly a second home market, and Pete sees a lot of Texas buyers looking for big family compounds of 5,000 to 10,000 square feet on an acre of land. As Pete puts it, a $2.5 million to $4 million home in Texas would cost around $20 million in Pebble Beach.
Golf is the biggest draw. Beyond Pebble Beach Golf Links, Monterey Peninsula Country Club has two courses ranked among the top 100 in the world, with a $475,000 initiation fee and about an eight-year wait list. Schools are split, with roughly half of Pebble Beach in the Pacific Grove district and half in Monterey's.
Pacific Grove
Pacific Grove is close to a 50/50 split between full-time residents and second home owners. The town has a classic small-town feel, with painted Victorians along Lighthouse Avenue, Lovers Point Park and Cannery Row next door. The schools are very strong, which keeps families here.
Small cottages under 1,000 square feet: about $1 million to $1.2 million.
Family homes of 1,600 to 2,000 square feet near the Monterey side: starting around $1 million.
Asilomar, along 17-Mile Drive: larger ocean view homes for about $3 million to $5 million.
Ocean View Boulevard, on the oceanfront: $5 million to $6 million.
Pacific Grove is also home to the Holman Building, a former department store that sat vacant for about 40 years before being converted into 25 residences. Units range from about $1.7 million to $5 million, and at five stories it is the tallest residential building in Monterey County. It is a rare lock-and-leave luxury option on the peninsula.
Salinas
Salinas is known as the Salad Bowl of the country and is home to some of the world's biggest agriculture companies. It has a working-class, down-to-earth feel that is very different from the peninsula. Along the Highway 68 corridor, you will find larger homes on acreage, valley views and Corral de Tierra Country Club.
In South Salinas, $700,000 to $1 million buys a nice single-family home in a safe neighborhood. Local schools are improving, and Palma High School is a popular private option.
Big Sur
About 45 minutes south of Carmel Highlands, Big Sur is drawing serious tech money from buyers who want to unplug, often in places with no cell service. Homes here feature spectacular architecture and sweeping coastline views, with some selling for $20 million to $30 million. Pete's team recently sold a Big Sur property for $7.5 million to a Meta executive.
Monterey County at a Glance
If you want a full-time home at the most approachable price, start with Seaside, Marina or South Salinas. If you want a weekend escape, look at Carmel-by-the-Sea, Pebble Beach, Carmel Highlands or Monterey.
Area | Typical price range | Mostly |
Seaside | $700K to $1.4M (new builds to $2.8M) | Primary, first-time buyers |
South Salinas | $700K to $1M | Primary |
Marina | $800K to $2.5M | Primary, Silicon Valley commuters |
Monterey | $1M to $3M (estates to $6M) | Primary, growing second home |
Pacific Grove | $1M to $6M | About 50/50 |
Carmel Valley | $600 to $1,500 per sq ft | Mix of primary and second home |
Carmel-by-the-Sea | $1,800 to $5,000 per sq ft | Second home (about 90%) |
Carmel Highlands | $2M to $40M | Second home |
Pebble Beach | $2M to $50M+ | Second home |
Big Sur | $7M to $30M | Second home, off-grid |
Ready to Buy in Monterey County?
If you are thinking about buying or selling in Monterey County, I can't recommend Pete and his team enough. You can reach them at www.RuizGrp.com.
About the Author
I'm Shay Phillips, a mortgage loan officer with Mortgage Upside, powered by NEXA Mortgage. I help Bay Area buyers finance their homes in less time with less effort. I also host the Living in The Bay Podcast and run LivingInTheBayPodcast.com. If you're planning a move, you can reach me at mortgageupside.com.
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