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How much have home prices in Santa Cruz gone up over time?

How much have home prices in Santa Cruz gone up over time?

 

If you look at the graph below, you can see the answer to that question is A Lot!  Back in 1980 the average home sale price in Santa Cruz was only $113,000 - today you may be able to get a mobile home for that price but that is about it.  

 

 

home prices

 

By the year 2000 the average home sale price in Santa Cruz was up to $523,000.  By 2007, which was the previous height of the market, the average home sale price was $852,000 - then what happened?  We had the recession of 2008 and Santa Cruz home prices went down by 22% in 2008 the largest drop ever!  

If you bought a home in 2007 and needed to sell in 2009, you were looking at losing money on your home and a possible short sale or foreclosure.  If you were able to hold on to that home until 2016 or 2017, you were looking at making money on your investment.  Today, I hardly ever see short sales or foreclosures because prices have recovered.  

In 2016 we had an 11.3% just in appreciation in Santa Cruz Home prices and since the beginning of the year we are up on 6% in 2017 - We have steady increase in home values since 2012.

 

 

 

 

Where are Santa Cruz Home Prices heading?

It is so interesting to look back in time and see the patterns and trends in Santa Cruz home prices.  The trajectory has always been Up! We do have times when prices go down but when you pull back and see the big picture home prices have steadily increased.

 

Why are Santa Cruz home prices increasing?

 

We live in an amazingly beautiful beach community that many people want to make home - there is high demand to live in Santa Cruz.  We are located near Silicon Valley where the economy is very strong, salaries are high and it continues to innovate and grow.  In Santa Cruz, we are basically out of room to grow.  There are no places to put new, large developments near the beach.

 

Investing in Santa Cruz real estate for the long term makes a lot of sense, and if you want to make Santa Cruz your forever home, I highly recommend looking into buying property now.

 

You can reach me at 831.419.9345 and yoursantacruzagent@gmail.com with any questions, I am happy to be your Santa Cruz real estate resource.

 

Find your dream home or next investment property here:  www.BuyorSellSantaCruzHomes.com

 

Curious about what you home is worth?  Find out instantly here:  www.SantaCruzHomePrice.com 

 

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Authored by Jessica Wallace, Santa Cruz Realtor

 
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Jessica Wallace
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Licensed In: Ca
License #: 01455690
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Comment balloon 2 commentsJessica Wallace • September 25 2017 11:07PM
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