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Santa Cruz Home Prices Rise Again

SANTA CRUZ HOME PRICES RISE AGAIN


What is good news for homeowners in Santa Cruz means tougher times for those looking to buy a home.  Home prices in Santa Cruz are on the rise again - October's median home price hit $715,000 - the median home price in Santa Cruz was $649,000 a year ago.

 

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This is in line with what I have seen in the Santa Cruz market over the past two years.  We have record low numbers of homes for sale and increased buyer demand due to an improving economy and continuing super low interest rates.  There just are not enough homes for sale, especially in the 'lower end' (under $600,000 in Santa Cruz) making this a really tough time for first time home buyers to get into the market.

On the other hand, if you are thinking of selling your home in Santa Cruz, timing could almost not be better.  There are only 537 homes on the market right now, compare that to a 648 year ago and 980 homes for sale in 2010.  Less competition means that your home will get more attention and with buyers having little other choices out there you can get top dollar for a home right now in Santa Cruz county.

How long this seller's market will last is anyone's guess but Santa Cruz real estate has a lot going for it.  Our local economy is growing, we are located next to one of the strongest economies in the world - Silicon Valley - and we have a beautiful geographic location - so many people want to live here.  Interest rates are bound to rise at some point and that will effect home values, perhaps next year we will see them rise a bit.

Contact Jessica Wallace to see what your home is worth in today's market at 831.419.9345 or email yoursantacruzagent@gmail.com

Visit here for a Free, Online Home Valuation

Take a look at all Homes for Sale in Santa Cruz 

 

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Authored by Jessica Wallace, Santa Cruz Realtor

 
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Jessica Wallace
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Coldwell Banker
831 419 9345
Licensed In: Ca
License #: 01455690
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Comment balloon 0 commentsJessica Wallace • November 18 2014 05:04PM

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