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Santa Cruz 12th Hottest Real Estate Market in the Nation!

SANTA CRUZ 12TH HOTTEST REAL ESTATE MARKET IN THE NATION!

 

In a recent survey by the National Association of Realtors, Santa Cruz, CA came in as the 12th hottest real estate market in the entire nation!  As a Realtor in Santa Cruz, CA I was slightly surprised by this even though I have seen how strong our market has been this past year.  To be ranked 12th in the whole United States really speaks to how our market has been this year.  California in general has had a very strong year in real estate, more than half of the top 20 strongest markets were in California with San Francisco coming in first.

santa cruz home prices

Why is the real estate market in Santa Cruz setting records and going so strong?  In large part it is due to our proximity to Silicon Valley and San Francisco whose real estate markets have been off the charts.  The extreme rise in home prices and rents 'over the hill' have driven many of those Silicon Valley workers to go further in their search for housing.  If you are going to have to commute why not live by the beach?  Santa Cruz has fantastic weather and is the best beach town close to Silicon Valley.  

I have seen a large number of all cash homes sales this year in Santa Cruz county.  Many of these all cash buyers are people who have sold a home in Silicon Valley for a huge number and come over to Santa Cruz and have no problem writing a check for a million dollar home, which probably seems like a bargain to them compared to the home prices in Silicon Valley and San Francisco.  These are both retirees and commuters who have decided to make Santa Cruz home.

Not only have home prices risen dramatically in both Santa Cruz and Silicon Valley but also rents have become astronomical.  I hear of people renting single rooms in San Francisco for $1800 a month!   

When and how this crazy real estate market in Santa Cruz will slow down is anybody's guess.  I don't see it slowing down significantly any time soon unless there is a major crash in the tech boom in Silicon Valley.  Interest rates are bound to rise this coming year and that should have some effect but Santa Cruz home prices appear to be poised to remain stable and continue to climb.

 

Contact Jessica Wallace - Your local Santa Cruz Realtor for more information at 831.419.9345 or yoursantacruzagent@gmail.com

 

Curious about the value of your home? Visit here for an Online Home Valuation by a local Realtor who knows the market.

 

Visit here to see a list of all current 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 2 commentsJessica Wallace • November 18 2015 11:10AM

Comments

Nice post, and congratulations on being in the 12th hottest market.

Posted by David Alan Baker Laveen & South Phoenix Realtor, Your local Expert (HomeSmart) over 2 years ago

As a Bay Area native and someone that frequented Santa Cruz all through the 19080's, 1990's and up to 20013; WOW! has Sanata Cruz CHANGED! Imagine seeing a beech shack or tiki hut turned 4 Seasons all of a sudden. It went fom "hey dude" to "ooh la la". Many, many great weekend memories there. Glad to see Cali representing on the Hottest Real Estate Market in the Nation RADAR! 

Posted by Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D, & Host of Postcards From Success Podcast (Big Block Realty 858.232.8722) over 2 years ago

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