California Market Statistics-Santa Cruz down a bit too, but improving
Posted May 11, 2008 @ 1:17 pm, Viewed by 358 Visitors, Read 364 Times.Santa Cruz Real Esate Market Showing signs of Life
Santa Cruz real estate has been slowed like most other parts of the nation. While our prices haven't taken the horrific hit s others have, we have had a downturn in volume and price too. These tables of the surrounding counties to Santa Cruz County, Santa Clara County ( Silcon Valley) and Monterey County( Salad bowl of the world) reflect the market's activity and strength or weakness.
While the media paints a broad brush and tarinishes all parts of the US, you will find real estate is very regional. Areas that are particularly hard hit because of job losses or rampant speculation or excessive growth have been hit hardest.Santa Cruz' sales volumes are off by about 40%, but the prices, depending on where and what type of property you are speakng of about 10-20%. Our worst hit area is probably in the southern part of the county, in Watsonville. There are some great short sales and foreclosures in Santa Cruz County, but Watsonville has the most steeply discounted and therefore greatest deals.
Because Santa Cruz has little that it can add for supply, there is a certain limitation of downside for an investment here. Watsonville was doubly struck because it has an agricultural base and many of it's citizens work on farms where wages are low and got sucked into the sub-prime mortgage fiasco. The city of Watsonville is also development minded, something Santa Cruz has not embraced. With the supply of many new homes in Watsonville, and low wage earners trying to buy a home, sales shot up. Now as these loans are becoming due an borrowers are walking away; there are some great values and investors are starting to wake up to this. Call me at 831-818-7524 and lets look at some of these great deals.
Santa Cruz and the San Lorenzo valley have some great deals too, but they are often more great deals because the price point to get into some of these neighborhoods has dropped, and more Santa Cruz homes are offered for sale.While things are not cheap by other state standards, these are some of the best prices I have seen in a number of years.
In general the Santa Cruz real estate market is picking up in activity. In our office ,the sales were almost normal for April. Prices are still important to be good values otherwise, they sit. This is the time as a seller, you price it competitively and make it sparkle in order to sell, otherwise you sit. Call me if you are thinking of selling.
California Home Sale
Santa Cruz real estate-Home and condominium sales recorded in March 2008
When you look at these statistics realize high numbers of low priced homes or condominiums in this period can skew the results.Capitola is a good example.
|
County/City/Area |
# Sold |
March 2008 |
March 2007 |
% Change |
|
|
82 |
$557,500 |
$705,000 |
-20.92% |
|
APTOS |
21 |
$675,000 |
$665,000 |
1.50% |
|
BOULDER CREEK |
3 |
$355,000 |
$459,000 |
-22.66% |
|
CAPITOLA |
5 |
$641,500 |
$425,000 |
50.94% |
|
|
24 |
$636,000 |
$775,000 |
-17.94% |
|
|
4 |
$612,500 |
$785,000 |
-21.97% |
|
SOQUEL |
5 |
$650,000 |
$584,000 |
11.30% |
|
|
16 |
$406,000 |
$620,000 |
-34.52% |
|
|
789 |
$632,000 |
$695,000 |
-9.06% |
|
|
23 |
$697,000 |
$744,000 |
-6.32% |
|
|
26 |
$1,047,500 |
$858,000 |
22.09% |
|
|
31 |
$525,000 |
$673,750 |
-22.08% |
|
LOS ALTOS |
16 |
$1,837,500 |
$1,660,000 |
10.69% |
|
LOS GATOS |
27 |
$1,350,000 |
$1,089,500 |
23.91% |
|
|
29 |
$545,000 |
$670,000 |
-18.66% |
|
|
19 |
$620,000 |
$800,000 |
-22.50% |
|
MOUNTAIN VIEW |
35 |
$862,000 |
$685,000 |
25.84% |
|
|
12 |
$1,030,000 |
$1,341,000 |
-23.19% |
|
|
405 |
$572,000 |
$663,000 |
-13.73% |
|
SAN MARTIN |
2 |
$1,330,000 |
$1,050,000 |
26.67% |
|
|
53 |
$555,000 |
$640,000 |
-13.28% |
|
|
23 |
$1,430,000 |
$1,500,000 |
-4.67% |
|
|
79 |
$806,500 |
$700,250 |
15.17% |
|
|
140 |
$404,750 |
$583,500 |
-30.63% |
|
|
8 |
$920,000 |
$1,313,500 |
-29.96% |
|
|
3 |
$2,500,000 |
$1,200,000 |
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