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Home Prices in Soquel, CA - Real Estate Market Trends in 2009

Home Prices in Soquel, CA - Real Estate Market Trends in 2009

In response to the many inquiries I received after my posting about Santa Cruz Home Prices for more detailed information about specific areas in Santa Cruz County I will be writing a series of posts about home prices in the various areas in Santa Cruz County.

Soquel is a small area in Santa Cruz County of about 1.1 square miles.  It has a quaint main street with antique shops and good restaurants.  Some of my favorites are Tortilla Flats and Michael's on Main.  As of the 2000 census there was just over 5000 people residing in Soquel.  There is not a huge volume of sales in Soquel since it is such a small area so home prices can vary widely month to month.   Let's take a look at the median home price trends in 2009 in Soquel.

Graph of Median Home Prices in Soquel, CA 2009

Graph of median Home Prices in Soquel Ca 2009

In this graph you can see that the median home price can be much higher some months than others, this data can be skewed easily if there was just 1 over million dollar sale.  There are some beautiful homes and estates in Soquel that sell for well over 1 million dollars.  There were 76 total sales on single family homes 2009.  That is up from 2008 when there were 55 home sales.  The median sale price for all of 2009 was $570,500.

Graph of Monthly Supply of Inventory in Soquel 2009

graph of monthly supply of inventory in Soquel, CA

Monthly supply of inventory refers to the amount of months it would take to sell all the homes currently listed on the market at the current rate.  6-8 months reflects a 'normal' market.  Under 6 months of inventory indicates that prices are likely to rise.  Over 8 months indicates more of a buyer's market.  You can see in the graph above that Dec 08 had 12 months of unsold inventory whereas in Dec 09 there was about 7 months of inventory so we seem to be heading towards a more balanced market.

For a more detailed look at home prices in Soquel or any other area in Santa Cruz County feel free to contact me.

*All stats and graphs are from Clarus Market Metrics

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Authored by Jessica Wallace, Santa Cruz Realtor

 
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Comment balloon 1 commentJessica Wallace • January 11 2010 05:50PM

Comments

Median sale price of $570,500 !! things have changed quite a bit since I left, I belive that is down about $300,000 from the late 90's and early 2000's. Great post, and thanks for bringing back great memories of some great restaurants, now I am hungry...

Posted by Gerry Michaels, GettysburgGerry Social Meida (Glasswork Media Arts) over 8 years ago

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