Sales Plunge 30% in July

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Did that headline get your attention? It sure got mine! Just a few days ago, I was telling some colleagues: “It’s not that bad – while sales in California in June were down around 26%, here in Santa Cruz they were only down 11%.” And that’s about right…but now the July numbers in, and they tell a starker story: sales in Santa Cruz County were down 30% from June of this year…and down about 32% from July of 2005. Yikes! That’s a pretty big drop!

For those of you thinking this is the beginning of the end – you may be right, but, oddly, the median home price continues to march right on upwards. What this indicates to me is that sales of more-expensive homes are stronger than sales of less-expensive homes. Last year, the less-expensive homes were just flying out the door, so to speak – but this year, it’s a tough sell for small homes on small lots.

Readers of my Santa Cruz Market Trends Newsletter will have received this news yesterday – if you want to get the latest market statistics, subscribe to my newsletter or check out the Real Estate Local Report on my website!

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I've been helping my clients get rich in Bay Area real estate since 2003. My decades of hard-won experience in the Silicon Valley real estate market provide sharp insights and invaluable lifestyle knowledge, empowering clients to make confident, informed decisions when selling, buying, or investing. Contact me to make your next move the best one yet.