July Market Update

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Another edition of my newsletter, Santa Cruz Market Trends, has been sent out to the folks who subscribe to it by e-mail. How did July shape up? The answer, surprisingly to some, is – not too bad! The median price for single-family homes throughout all of Santa Cruz county rose 3% (0.6% year-over-year). The news isn’t quite so cheery for condos: the median price dropped 8.3%, however, this means the price is still up 7.1% from July a year ago.

The bad news for Realtors (and mortgage brokers, escrow people, appraisers, home inspectors, and the like!) is that the amount of sales volume is down from last month – 14.5% for single-family homes, and 3.4% from July a year ago. Condo sales are down dramatically – 19.4% from June of this year, and down 34.1% from a year ago.

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