Millennials are relocating to the Central Coast

SALINAS, Calif. (KION) The real estate market is hot for sellers and many listings aren't on the market long.

As home prices continue to skyrocket, homebuyers in their 30s are moving away from the silicon valley to the Central Coast.

Jeremy Larson with the Larson Real Estate Team says it's an interesting time for communities -- especially on the central coast -- as younger homebuyers move to the area.

"What we're seeing happening right now on the Central Coast is more millennials than we've ever seen. millennial homeownership right now they are 37% of all homeownership right now," says Larson.

In addition to that, realtors say there's a 7% increase in millennial homeownership just in the last 2 years.

Many in the tech industry are making the move to the Central Coast.

As the locals know, they're relocating because of the beauty and everything the Monterey Bay area has to offer.

It's also pushed by the rise in people being able to work remotely.

"A majority of the millennials are approaching they're the mid to late 30s, and so they're entering that stage of their life where they're settling down, they're going to be performing at a higher level with their career possibly having families," says Larson.

Real estate experts say right now is possibly the best selling environment on the Central Coast and is definitely still a good time to sell.