SANTA CRUZ HOME PRICES RISE OVER $100,000 SINCE JANUARY
There has been a rapid rise in Santa Cruz home prices since January of this year. We are seeing home prices in Santa Cruz county rise so fast, just in a few months. Last year we had strong appreciation with multiple offers and over bidding common. This year things have only gotten more intense.
Here is a summary month by month so far this year of Santa Cruz county median home prices:
January - $662,000
February - $670,000
March - $745,000
April - $760,000
The rise in home prices is in part due to the upper end of the market really starting to move, homes selling for over $1,000,000 are selling quickly now too and many times with multiple offers. It is not just the lower end of the market that is seeing these multiple offers.
Right now there are just 333 single family homes for sale in all of Santa Cruz county. Only 80 of those homes are priced under $600,000.
Areas of rapid appreciation since the beginning of this year include San Lorezno Valley and Watsonville - places where you would generally find the most affordable homes in Santa Cruz county. Homes in walking distance to Felton or Ben Lomond are seeing 5,10,12 offers and are selling sometimes for $100,000 over the asking price.
Here are a few recent examples of homes that I have listed and sold this year in Santa Cruz county with multiple offers:
1004 King St Santa Cruz. Listed at $899,000 and sold for $1,000,000 with 6 offers to an all cash buyer
654 Goss Avenue, Santa Cruz. Listed at $675,000 and sold with 3 offers for $720,000 to an all cash buyer
24th Avenue, Santa Cruz- Listed for $599,000 and sold for $620,000 with 3 offers
233 Longfellow in Ben Lomond - Listed for $389,000 and sold for $455,000 with 8 offers
Interest rates have remained low this year and the economy 'over the hill' is booming. We have so many very qualified buyers that want to make Santa Cruz county home. Without a dramatic rise in the number of homes on the market I expect to see more of the same throughout this year.
Contact Jessica at 831.419.9345 or firstname.lastname@example.org with any questions about the market, homes for sale or the value of your home now.
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