January 2020 Santa Cruz Real Estate Market Update

January 2020 Santa Cruz Real Estate Market Update

Santa Cruz Real Estate Market Update: January 2020

If you’re like most people, you’re wondering about the Santa Cruz real estate market in 2019. And even more importantly, how the Santa Cruz real estate market conditions affect you if you’re considering buying a home in Santa Cruz or selling a home in Santa Cruz.

Hi, I’m Shemeika Fox, Your Santa Cruz Real Estate Expert here to bring you the January 2020 Santa Cruz Real Estate Market Update. And I thought it would be both fun and interesting if we could recap 2019 versus 2018, so that we could have a comparison of what the Santa Cruz real estate market trends have been over the past two years.

Right here in Santa Cruz county, we had 1,645 single family homes that were sold in 2019, and 1,807 single family homes that were sold in 2018. This is countywide and encompassing all single family homes that have sold within the county of Santa Cruz between 2018 and 2019. This means we sold 162 fewer homes in 2019, right here in Santa Cruz county, which is about a 5% decrease in the number of Santa Cruz home that sold in 2019. The Santa Cruz county average day on market for 2019 was 87 days, down 37 days from 2018’s average day on market of 119.

The Santa Cruz county average sales price was $4,503,040 which is up by 350 from 2018 of the average selling price of single family in Santa Cruz county was $4,152,960. So the good news is that we did not see home prices decrease in Santa Cruz county, and yes, our Santa Cruz county average home sales price are high. That is because in 2018, the highest Santa Cruz county home sale that offset the average closed at $9.4 million. This beautiful beach view estate overlooks the Pacific Ocean, from the bluffs of La Selva Beach in Santa Cruz county. In 2019, the highest Santa Cruz county sale was $9.7 million. This ultra sleek modern home was also a beach front property with over 500 linear feet of beach front overlooking Twin Lakes Beach and the lighthouse with its breathtaking 240 degree views, all right here in Santa Cruz county.

But here’s what we need to look at and what is interesting. The inventory is significantly lower in all of Santa Cruz county. Typically, when we see the number of homes selling decreasing, that means that this could be a sign that the housing market here in our local Santa Cruz real estate market is slowing down. This does not mean that we need to panic. We had many years where home prices were going up so quickly that we are now catching up.

It means that we need to understand that the Santa Cruz market climate is changing. Adjustments may need to be made. Expectations may need to be more realistic, and lastly, if you’re considering selling your Santa Cruz county home, you may want to consider doing more to your home to get it ready to sell so that you attract more Santa Cruz home buyers.

It also means that it’s now more important than ever to hire an experienced Santa Cruz realtor, who knows how to properly market your home and expose it to as many potential Santa Cruz home buyers as possible.

Here at Fox Realty Group, we do that better than anyone else. In fact, our average days on market is 10 and a half days, which is considerably lower than the current average days on market over the rest of Santa Cruz county. We’re here to take care of all your Santa Cruz homes selling and Santa Cruz home buying needs.

I’m Shemeika Fox, your Santa Cruz real estate expert, I hope you’ve enjoyed this January 2020 Santa Cruz Real Estate Market Update. Please feel free to reach out if you have any questions, regarding the Santa Cruz community or real estate. Make it a great day!

Shemeika Fox, Realtor {DRE 01479629}

David Lyng Real Estate

Phone: 831.588.2334

Email: sfox@YourSantaCruzRealEstate.com

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