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How's the market? Westside Santa Cruz Update

HOW'S THE MARKET - WESTSIDE SANTA CRUZ HOMES FOR SALE UPDATE

A common question when you are a Realtor from clients, friends, family  . . . How's the market?  Depending on if you are a buyer or a seller the answer will be different.  We are still in a strong seller's market in Santa Cruz, especially on the Westside of Santa Cruz, although the number of homes for sale has increased steadily over the summer.  This is much welcome news for buyers.

 

Westside Santa Cruz - Number of homes for sale vs Number of homes sold

westside santa cruz homes for sale

 

You can see in the graph above we had abysmally low number of homes for sale on the Westside of Santa Cruz early this year - between 20 -27 total homes per month for sale between January and April, which then increased to a peak of 49 homes for sale in June.

The average sale price of a single family home on the Westside of Santa Cruz is now nearing 1 million dollars with an average days on market of less than 20 days!  We continue to see prices rising this year and multiple offers are common, especially on any decent property priced under 1 million dollars.  For example, I listed and sold a home recently in the "Circles" neighborhood.  We priced the home at $899,000 and it ended up selling for $950,000 and received 4 offers.  Of the approximately 30 homes for sale on the Westside right now, only 11 are priced under 1 million dollars.

Interest rates have remained very low this year, and after the Brexit vote fell to 2012 levels. With these low interest rates and high demand for the Santa Cruz area, home sellers in Santa Cruz are able to sell their homes quickly and at a great price.  

 

If you have any questions about the current real estate market or what your home is worth today contact me at 831.419.9345 or yoursantacruzagent@gmail.com.  I am happy to be a resource for you.

 

 

 

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Authored by Jessica Wallace, Santa Cruz Realtor

 
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Jessica Wallace
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831 419 9345
Licensed In: Ca
License #: 01455690
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Comment balloon 2 commentsJessica Wallace • August 23 2016 02:42PM
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