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Here is a Recent Snapshot of Santa Cruz County Real Estate Market
Sales of single-family, re -sale
homes were up,
year-over-year, in each of the last six months of 2008.
For the year, home sales were off 2% compared to 2007.
●
For the year, the Median Price for a Santa Cruz County
Single-family Home was $585,000, a drop of 22%.
● Santa Cruz County home sales
ended the year in December with a gain of 16.7% from November and a
gain of 47.4% year-over-year.
● The Santa Cruz County median
home price rose 1.7% from November, but was down 38.2%
year-over-year.
● Santa Cruz County housing inventory
was down 18.8% from last November.
This is the eighth month in
a row inventory has declined year-over-year.
● Our Days of Inventory
indicator for the number of available homes for sale in Santa Cruz
County shed 71 days and is now at 213 days.
In a balanced market,
the supply of homes is usually around five to six months.
● The Homes Sales Price to
Home List
Price Ratio in Santa Cruz County dropped 0.5 of a point to 96.3%.
● Days on Market
–
the number of days that it took a Santa Cruz County home to sell fell
four days to 75 days.
●
Santa Cruz County
Condo Sales were down 7.7% from
November, but were up 41.2% year-over-year.
● The Median Price for Santa
Cruz County Condos gained 16.1% from the month before, but was
down 30.2% compared to last December.
The Santa Cruz Mortgage Market –
If you are in escrow with one of the new higher-limit, conforming
loans,
or you expect to buy a home before the end of the year, remember, the
new, higher conforming loan limit of $729,750 expires at the end of
the year. You must have your loan funded by then. Starting
January 1st, the conforming loan limit will be $625,000.
Santa Cruz Housing Market Summary – The
Santa Cruz County real estate market is very hard to generalize. Not
only do you have many individual, unique cities such as
Santa Cruz,
Aptos,
Capitola,
Scotts Valley,
Los Gatos,
Felton,
Bolder Creek,
and Ben Lomond,
but within each city there are many micro real estate market
such as Santa Cruz' Westside, Eastside, Please Point, Live Oak, East
Cliff, Seabright, Yacht Harbor, and more.
For complete information on a particular neighborhood or property,
please click here or
call me at
(831) 423-SOLD (7653) or (888) 299-7653.
For more information on Santa Cruz County's real
estate
market, mortgage rates, and available homes for sale, download a copy
of our latest newsletter. Click
here >>
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