Santa Cruz Real Estate Market Update: April 2021

Описание: I'm getting questions every day about the Santa Cruz housing market. And if or when do I think that it will have a downward shift? Will the expiration of the moratoriums and forbearance have an impact on our market? Hi. I'm Shemeika Fox, your Santa Cruz Real Estate Expert, and I'm happy to provide you with what this April Market Update.

Not surprising at all but definitely validating, what we right here in Santa Cruz are experiencing in our Santa Cruz housing market. According to Dr. Eisenberg, the most impressive single statistic coming from the Silicon Valley is without a doubt, the rapid and sustained rise in home prices due to many factors, some of which are largely unique to this region. Across the country, we see home buyers expressing a desire for more space due to being at home more, as well as the ability to work from home, even post pandemic. However, Silicon Valley is unique in that higher percentage of employees can work from home here than in almost any other geography, to wit, high-tech firms were early adopters in allowing their employees to work from home. And moreover, gave them early guidance about future work arrangements.

Another factor impacting the local housing market is undoubtedly emigration from San Francisco. While these numbers are not large, in a tight housing market exhibiting little if any new construction an inflow of very wealthy buyers can easily alter house price dynamics given the general lack of inventory. However, it is reasonable to think that we have witnessed peak migration as prices keep rising and life in the cities reverts to a new version of normal.

And here are the numbers for the Santa Cruz housing market. The median sales prices in Santa Cruz County jumped to an all time high of 1.1 million a 21.2% gain over last year and average prices rose 27% to 1,222,877. Dr. Eisenberg says, Santa Cruz County is apparently capturing a meaningful number of migrants from San Francisco. Your prices rose like it had a rocket assist. New listings are close to normal for this time of year at 510, while closed sales rose 35.5% over last year. New pending sales are nearly double the level we saw at the end of March, 2020 and are at the highest level since mid 2015. Single family inventories in Santa Cruz County are near all-time lows with just 259 active single family residential listings. Dr. Eisenberg, notes that whereas Santa Cruz County used to be relatively inventory rich compared to neighboring counties, inventory levels have declined to where they are at the national average at two months supply of inventory. The sales price to original list price ratio rose this month to 103%. The highest level in recent memory and average days on market declined to 42%, the lowest quarter one in decades.

I hope you found this Santa Cruz housing market update helpful and informative. If you would like more information or to discuss how this market will impact you if you're considering selling your Santa Cruz home or buying a home right here in Santa Cruz, reach out to me for a confidential, complimentary consultation. I'm Shemeika Fox and I hope you're having a wonderful day and as always, I'm here to help.

Shemeika Fox: Your Santa Cruz County Real Estate Expert. My passion for helping people achieve their Santa Cruz Real Estate dreams is complimented by my strong work ethic. Our focus is to help you sell your Santa Cruz County California property faster and for more money… and to help you find and buy the perfect home with little hassle.

Shemeika Fox
Santa Cruz Realtor
eXp Realty of California Inc.
Fox Realty Group Inc.
831.588.2334
[email protected]
https://www.yoursantacruzrealestate.com/
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