Santa Cruz Median Home Price hit $920K in March

sebfreyCommentary, Local, Santa Cruz Real Estate, Silicon Valley Real Estate

Real Estate Report

The Santa Cruz real estate market is making headlines again.  A few weeks ago, the news was that the median home price in Santa Cruz county had dipped below $800,000 for the first time in 15 months.  But a fresh look at MLS data reveals that the Santa Cruz median home price hit $920K in March 2018.  This is believed to be the highest median home price ever recorded in Santa Cruz county. Here’s a quick break-down of the March 2018 Santa Cruz Real Estate Market data: $920,500 median single family home price (+12.3% vs. $820,000 a year ago) 132 Homes sold (+16.8% vs. 113 year ago) 37 Days on Market Average (-27.5% vs 51 DOM a year ago) $647/sf Average (+29.4% vs. $500/sf average a year ago) 210 New Listings hit the market (+2% vs. 206 a year ago) When the news hit a month ago that the January median price had dipped below $800K for the first time in over a year, I cautioned people that one month does not make a trend, it could easily be an outlier.  Likewise, March’s $920K number could also be an outlier.  Certainly, we are seeing a considerable amount of volatility in the market. Santa Cruz is 6th Hottest Housing Market in the USA Last month we reported on the 20 hottest housing markets in the entire United States.  Last month, Santa Cruz came in at #11.  This month, Santa Cruz is 6th hottest real estate market in USA.  This is according to a new article in Realtor Magazine.  Once … Read More

Santa Cruz is the Nation’s 17th Hottest Real Estate Market

sebfreySanta Cruz Real Estate

Hot Housing Markets

According to a new article on the 20 Hottest U.S. Housing Markets on Realtor.com, Santa Cruz is the Nation’s 17th Hottest Real Estate Market! KION News ran a segment last night, and interviewed local Realtors Bill Cuccia and Candie Noel. You can see the clip below: video platformvideo managementvideo solutionsvideo player It shouldn’t come as much of a surprise to hear that the nation’s top housing market is, of course, San Francisco. It might surprise you to learn, though, that Vallejo is rated as the 2nd hottest market in the country! San Jose is rated as the 4th hottest housing market, San Diego is 6th, Sacramento is 7th, Santa Rosa is 8th, and Stockton is 10th. In fact, 12 of the top 20 markets are in California, which realtor.com describes as “booming.” It’s not just the real estate market that’s booming. In fact, the Golden State’s economy as a whole is doing very well. Silicon Valley has exceeded its previous peaks in terms of total employment, and wages are up sharply. With more people than ever making more money than they’ve ever made, it’s unsurprising to see desirable areas such as San Francisco and Santa Cruz experience such high demand for real estate. Given the uncertainty in the stock market, it’s also unsurprising to see a lot of dollars head into towns like Vallejo, Sacramento, and Stockton as investors seek opportunities with good potential for return as well as appreciation. See also: KION News