Santa Cruz County Housing Market Update: June 2017

[INFOGRAPHIC] SNAZZY VISUAL MARKET UPDATE AT THE END OF THIS POST

Fueled by interest rates that remain historically low and rising incomes, buyer demand continued to be strong enough in June to keep the already low supply of homes to purchase precariously low and prices still some of the highest the Santa Cruz County market has ever seen.

A supply shortage, according to many industry experts, has become one of the leading barriers of entry for many home buyers. In the past, and still a consideration, the big hurdles were having the necessary downpayment or high enough credit scores.  Continue reading

Santa Cruz County Housing Market Update: May 2017

[INFOGRAPHIC] SNAZZY VISUAL MARKET UPDATE AT THE END OF THIS POST

Great Googly Moogly! Home prices in Santa Cruz County soared ever higher at the end of the spring. As a result, the summer home buying season is expected to kick off strongly.

Low housing inventory and rising prices are par for the course these days in our local market and the greater Bay Area as well. May’s real estate statistics were not drastically different from what we have been seeing in 2017. Continue reading

March 2017 Santa Cruz Real Estate Housing Market Update

Santa Cruz County Housing Market: March 2017

[INFOGRAPHIC] snazzy VISUAL MARKET UPDATE AT THE END OF THIS POST

Spring break is in full swing for families as I sit down to write this month’s market update, yet many home buyers cannot seem to catch a break in the Santa Cruz County housing market.

The spring buying and selling season is ramping up and it appears to be on track to set new records this year. Whether that is a good or bad thing depends on your real estate goals.

Home prices in March were pushed up to nearly record highs due to steady demand and low supply. Three months in, the first quarter posted a relatively normal number of closed sales while new listings coming to the market remain some of the lowest on record. Continue reading

february 2017 santa cruz county housing market update

Santa Cruz County Housing Market: February 2017

[INFOGRAPHIC] GREAT VISUAL MARKET UPDATE AT THE END OF THIS POST

No doubt about it, we are emerging from a seriously chaotic winter. There is a new administration in the White House and the storms from October through February have made this the wettest winter ever since scientists began collecting data 122 years ago. On the upside, much of California is seeing a breathtaking wildflower “super bloom“. Nature lovers are referring to this as the biggest in over a decade. These beautiful scenes are thanks to a perfect combination of rain, sunshine and lack of drying winds.

Is this super bloom phenomena something that could translate to Santa Cruz County’s real estate market in some way? Continue reading

jan 2017 santa cruz real estate update

Santa Cruz County Market Report: January 2017

[INFOGRAPHIC] GREAT VISUAL MARKET UPDATE AT THE END OF THIS POST

Do you remember Milli Vanilli’s “Blame It On The Rain”? Recent storms almost certainly  dampened the Santa Cruz County real estate market in January. The length and severity of the rain impacted many of our lives last month and the housing market was no different. The rain made it more difficult to show homes, impacted road conditions, tracked mud and water indoors, caused leaks and other unexpected repair issues, delayed scheduling with contractors, postponed photography for upcoming listings and much more.  Continue reading

Santa Cruz County Market Report: December 2016

infographic: Great visual Market Update At The End Of This Post

HAPPY NEW YEAR – December did a wonderful job of summarizing 2016’s biggest trends in the Santa Cruz County housing market. In case you missed some of the market updates, the message remained the same in the final month of the year:

  • Low inventory endures
  • Home values continue to appreciate
  • Buyer demand remains strong
  • The market is continuing to soften

One BIG change took place in December: the Federal Reserve raised key interest rates by 0.25% – a big hairy deal kind of change. This was only the second time in a decade that the Fed has raised rates. The first was in December 2015. The majority of economists and housing industry experts saw it coming from miles away. Some speculated it wouldn’t happen until spring while others correctly picked December in the wake of the election. After a few weeks we’re only just beginning to feel the ripple effects. Continue reading

Santa Cruz County Market Report: September 2016

Rethinking What A “Normal Market” Looks Like

“I’m waiting for the market to peak.” How many times have you heard that sentiment when discussing the Santa Cruz housing market in the last year or two?

Many sellers are waiting to sell at what they perceive the top of the market to be.  At the same time buyers are keeping a close watch in hopes of purchasing when prices cool and interest rates are still low.

Looking at September’s median price one might think that the market has begun its decline. Continue reading

august santa cruz real estate market update

Santa Cruz County Market Report: August 2016

(scroll to bottom for full Infographic)

Have you been waiting for the paint to dry? Many have been watching the housing market and waiting for a decrease in prices.  Sellers are holding out to see when the market peaks while buyers are waiting for homes to become more affordable. The market is slowing, as it often does this time of year, but prices aren’t likely to cool substantially any time soon though there are a number of unknowns looming in the distance like the presidential election and rate hikes.

Those that have been following the market this year have likely noticed that every article contains commentary about affordability, sparse inventory and low interest rates. Squarely in the fourth quarter of the year, many experts are agreeing that the new housing crisis appears to have arrived, and it is all about supply. Continue reading