Carmel Property Listed as Second Most Expensive Home in the U.S.

What's Happening?

A property in Carmel, California, has been listed as the second most expensive home for sale in the United States, priced at $91.3 million. The 13-bedroom, 15-bathroom compound is situated on over five acres and features luxurious amenities, including a wine room and a two-story library. The listing highlights California's prominence in the luxury real estate market, with six of the top ten most expensive homes located in the state.

Why It's Important?

The listing of this Carmel property underscores the high demand and value of luxury real estate in California. The state's real estate market continues to attract wealthy buyers, contributing significantly to the local economy. This trend reflects broader economic dynamics, including the concentration of wealth and the appeal of California's coastal and urban environments. The prominence of such high-value properties also raises questions about housing affordability and the socio-economic divide in the region.