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Santa Cruz County Median Home Prices affected by Short Sales and Foreclosures

Santa Cruz County Median Home Prices affected by Short Sales and Foreclosures

There were 149 home sales in Santa Cruz in June 2010 - almost half of the sales consisted of REOs or Foreclosures and Short Sales.  Many of these Short Sales and Foreclosures are being purchased by First Time Home Buyers at discount prices.   Go to see a current list of Santa Cruz foreclosures for sale

Santa Cruz median home prices saw a slight increase this June compared to June of last year however prices are pretty similar.  The Median Home price in June 2010 was $507,500 - in June 2009 it was $483,000.  A new article in the Santa Cruz Sentinel came out today about Median Home Prices in Santa Cruz

The San Lorenzo Valley and Watsonville areas have lower median home prices than other parts of Santa Cruz County and many investors and First Time Buyers are finding homes in these areas at very affordable prices.  One of the lowest priced homes that sold in June 2010 was a 2 bedroom home on Highway 9 in Brookdale that sold for $154,500.

homes

  

June 2010 STATISTICS Santa Cruz Home Sales Statistics

Santa Cruz Single-family homes
Median price
: $507,500 ($483,000 a year ago; $600,000 two years ago)
Listings: 1,116 (1,192 a year ago)
Number of sales: 149 (162 a year ago)
Distressed: Foreclosures, 31, short sales, 34, not applicable/not disclosed, 84
Unsold Inventory Index: 7.5 months (7.4 months a year ago)
Average price: $549,685
($573,029 a year ago)


Santa Cruz County Sales Statistics CONDOS
Median price
: $284,000 ($299,000 a year ago; $368,000 two years ago)
Listings: 285 (250 a year ago)
Number of sales: 38 (31 a year ago)
Distressed: Foreclosures, 6; short sales, 11, not applicable/not disclosed, 21
Unsold Inventory Index: 7.5 months (8.1 months a year ago)
Average price: $368,032 ($343,270 a year ago)
SOURCE: Real Options Realty

 

Santa Cruz Short Sales and Foreclosure homes present an opportunity to buy a home in Santa Cruz at a great price. 

Go here to see Santa Cruz County Home Foreclosures for Sale

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Authored by Jessica Wallace, Santa Cruz Realtor

 
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