July 2020 Santa Cruz County Real Estate Market Update

sebfreyLocal, Santa Cruz Real Estate, Uncategorized

Market Activity Soars after Early Spring Decline Recovering from the initial shelter-in-place drop in sales activity, Santa Cruz County has now jumped well above the highest points of the past 2 years. The first 2 charts below illustrate the big rebound in listings accepting offers in both the general residential market and the higher-price home segment.  The Bay Area markets with the largest year-over-year increases in the number of listings accepting offers in June 2020 were the 4 outer Bay Area counties of Monterey (up 61%), Santa Cruz (58%), Sonoma (47%) and Napa (37%). They also have among the lowest population densities in the Bay Area. The more urban counties saw more modest y-o-y increases: San Francisco (6%) and Alameda (7%).  The year began with a relatively low inventory of homes for sale, and though that number has been increasing, it is still well down year over year.  The next 4 charts look at median home sales prices from a variety of angles. Remember that median sales prices are not perfect indicators of changes in fair market value: They can fluctuate due to a number of other factors as well.  Average days on market were quite low in the last quarter, a common dynamic in Bay Area markets. The homes that sold went into contract relatively quickly.  In Q2 2020, the average sales price was 2.5% below asking price.  And interest rates hit another all-time low in early July, adding fuel to buyer demand. 

Get It Sold Press Kit

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Contact Information Sebastian “Seb” Frey sebfrey@sebfrey.com (408) 548-7348 Home http://facebook.com/sebfrey http://twitter.com/sebfrey http://linkedin.com/in/sebfrey Product Information Get It Sold! Sebastian Frey January 14, 2017 Available at Amazon.com, SellForSure.com ISBN Kindle:  978-1-5203-9042-0 / Paperback: 978-1-63587-236-1 Retail price $12.95 Page count:  109 Genre/sub-genre:  Non-Fiction / Business / Real Estate Promotional Info Interview Resources Media Reactions Press Release Book Excerpt Download a Sample of the book here. Author Bio Sebastian “Seb” Frey is a licensed Real Estate Broker and Realtor® serving the greater Silicon Valley area, focusing on “Silicon Beach” – the coastal communities of Santa Cruz county, about 30-45 minutes south of Silicon Valley itself. Seb is originally from Berkeley, California. He moved to Santa Cruz in 1988 when he graduated from high school to attend the University of California at Santa Cruz. His first career was in Information Technology, which took him to live and work in such exotic places as Alaska, Malaysia, Bali, France, the United Kingdom, Belgium, and of course, all throughout Silicon Valley. He first got his real estate salesperson’s license in 2003, and since then he has continued to educate himself and improve his skills. In 2005, Seb obtained his Real Estate Broker’s license, and Seb also holds a number of Realtor® designations, including GRI, CRS, SRS, SRES, SFR and e-Pro.  His favorite job is being Dad to his two young boys, Aiden and Evan. He is a strong believer in giving back and paying it forward.  Since 2015, he has served on the board of the Santa Cruz Children’s Museum of Discovery.  In 2017, … Read More

Santa Cruz Real Estate Market Update – September 2012

Seb FreySanta Cruz Real Estate, Uncategorized

September 2012 Santa Cruz Real Estate Market Statistics It’s time once again for the Santa Cruz Market Trends Newsletter! The latest market numbers for August 2012 show the market continues to gain strength strength – with the median home price for August 2012 for Single Family Residences in Santa Cruz County continuing to rise, up 13% from a year go, to $550,000! This number is however down a bit from July 2012, the month before, when the median price was $585,000. While the median price was up, the sales volume was also up from a year ago – by 14%, when in August 2011 170 homes closed escrow…but get this! Sales volume was up a staggering 27.6% from July 2012, the month before, when just 152 homes closed escrow. The big story here though I think isn’t the median home price or sales volume par se – the headline news I think is the low inventory we are seeing in most of the county. Inventory is down 19.7% from a year ago – and there wasn’t a lot of inventory last year, either. Granted, inventory did rise from the month prior, by a healthy 15% – but in much of the county, we are seeing less than 2 months’ worth of available inventory. A balanced market – where supply of homes for sale is considered to “match” buyer demand, is about six months worth of inventory. If you’re a buyer out there in today’s market – it’s tough! Multiple offers are common in most areas of … Read More

Santa Cruz Real Estate Market Update – August 2012

Seb FreySanta Cruz Real Estate, Uncategorized

August 2012 Santa Cruz Real Estate Market Statistics It’s time once again for the Santa Cruz Market Trends Newsletter! The latest market numbers for July 2012 show the market has been gaining strength – with the median home price for July 2012 for Single Family Residences in Santa Cruz County up a whopping 22% from a year go, to $585,500! That’s also up from June 2012 when the median price was $480,000. While the median price was up, the sales volume was also up from a year ago – by 25.6%, when in July 2011, just 122 homes were sold. This is, however, down a bit from June 2012, when 160 homes closed escrow. All of this sounds like it is right in line with the news stories we’re seeing, reading, and hearing from sources all across the country – the real estate market is well on the road to recovery! I have been looking for signs of this in our own market – the median home price, after all, is only a spotty indicator of what home prices are actually doing. That’s why there’s the Case-Schiller Index, which attempts to check the resale prices for the very same homes – checking, to see, what a home sold for in 2008 and what the very same home sold for in 2012 as a way to measure what’s going on with prices, home-by-home and area-by-area, rather than just regurgitating the national home price statistics cited by the National Association of Realtors. I have started to see evidence … Read More

Santa Cruz Real Estate July 2012 Market Update

Seb FreySanta Cruz Real Estate, Uncategorized

July 2012 Santa Cruz Real Estate Market Statistics It’s time once again for the Santa Cruz Market Trends Newsletter! The latest market numbers for June 2012 show the market moderating, with the median price coming in at $487,500 – this is down 8.3% from the year-ago median price of $537,500 and also down 3.7% from the May 2012 median home price of $517,500. Not only was the median price down, but the unit volume was also down. In June 2012, 162 single-family residences closed escrow in Santa Cruz county – that’s down about 8% from the year ago number, when 174 units closed escrow in June 2011, and down a whopping 26% from the previous month, May 2012, when 216 homes closed escrow. If you’ve been paying attention to what the national media is saying about the real estate market, you may have heard mention that a) prices are coming up and b) we have hit the bottom of the market. While both of those things may be true, what’s absolutely true is that now is the best time in over 5 years to sell your house in Santa Cruz. If you are thinking about selling any time in the near future, my advice is to strike while the iron is hot and get your property on the market ASAP. To get the full newsletter, broken down by different areas of the county and also by Single Family Residences as well as Condominiums, click here to download the full the Santa Cruz Real Estate Market Trends … Read More

Santa Cruz Real Estate June 2012 Market Update

Seb FreySanta Cruz Real Estate, Uncategorized

Santa Cruz Real Estate Market Statistics The numbers for the Santa Cruz Real Estate Market in May 2012 are in – and things are looking up, WAY up, compared to both the month prior and the month a year ago. The median home price in Santa Cruz County in May 2012 came in at $527,500 – up a whopping 18% from May 2011, and up also from $487,500 in April 2012. Not only was the Santa Cruz median home price up, the number of homes sold was also up dramatically – with 216 closed homes in May 2012, compared to 147 in May 2011 and 149 the month prior in April 2012. To get the full report, broken down by different areas of the county and also by Single Family Residences as well as Condominiums, click here to download the full the Santa Cruz Real Estate Market Trends newsletter.