Santa Cruz Real Estate Update May 2016

2102 West Cliff Drive

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Did you see the newspaper headline from a couple of weeks back?  Here it is, check it out:

This is the basically the same news I’d brought you a week before, with my Santa Cruz Real Estate Market Update for April.  But that’s yesterday’s news – so how is the market doing today, another month into spring?

The median home price for single Family Homes in Santa Cruz county in April 2016 was…are you ready…$775,500.  This is a bit of a drop from both February and March, but it is up 3.4% from April a year ago, when the median home price was a cool $750,000.

What’s YOUR home worth in today’s market?

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The Santa Cruz median home price has barely changed compared to a year ago – but how much is YOUR home worth in today’s market? Find out now with this free, quick, and accurate tool!

An interesting fact is that homes sold in an average of just 30 days in April.  That’s an average.  That’s a really low average, which basically means that homes are selling like hot cakes.  For comparison purposes, a year ago, homes took 45 days to sell – and last April was certainly a blisteringly hot real estate market by anyone’s measure.

My question is:  can it get any better for sellers than right now?  

I don’t really see how.

One thing I do see though is that some sellers are starting to get greedy.  They are setting asking prices higher than the market will bear, and for this reason, keen observers will note that a number of homes are undergoing price reductions.  If you are going to sell your house, my best advice is:  price it reasonably, and you let the market decide what crazy insane amount of money they want to offer you.  In any market, the list price is really more of a suggestion than an absolute.  Let the market do the talking – because right now, the market is talking plenty loud.

2102 West Cliff Drive

2102 West Cliff Drive: 4 bedrooms, 4 bathrooms, 3000sf, sold for $3,387,500

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