Commercial Real Estate Market in Carmel, CA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
91 active listings and 411 off-market properties in Carmel, CA. Commercial property asks $27/SF to buy and $21.60/SF/Yr to lease.
Market Trends
Carmel, CA spans 203.7 square miles in Monterey County, California. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Carmel, CA runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Carmel, CA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Carmel, CA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Carmel, CA asks $364/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Market overview
Demographics & Economy
Carmel, CA has 15,294 residents in 10,018 households. Density runs 75 people per square mile. Median household income here is $115,727 and median gross rent $2,362 a month.
15,294
Population
10,018
Households
1.5
Avg Household Size
61
Median Age
67%
College-Educated
96%
High-School Grad
203.7 sq mi
ZIP Area
75
Density / Sq Mi
$115,727
Median Household Income
$66,302
Median Earnings
$2,362
Median Rent
$1,653,755
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Carmel?
Commercial property in Carmel, CA asks an average of $27 per square foot. The 5 most recent recorded sales traded at a median of $697/SF. Multifamily carries the highest asking price at $364/SF.
How much does it cost to lease commercial space in Carmel?
Asking lease rates in Carmel, CA average $21.60 per square foot per year.
Where does Realmo's Carmel market data come from?
Realmo compiles Carmel, CA figures from 7 recent recorded sales, 82 active sale listings, 9 active lease listings, 411 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 82 active for-sale and 9 active for-lease listings in Carmel, CA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
