Local Articles June 15, 2022

Santa Cruz Real Estate Market Update

Local Market Update
Want to know what’s happening here in our local Santa Cruz real estate market? I get asked this question often! Is now a good time to sell in Santa Cruz CA. I also get asked if we are we going to see a crash, and what should people do with their home? It can be so confusing with the constant changes in the market to know what the best decision for your family will be. I totally understand and I am here to help you navigate this market. When answering these questions it’s always a good idea to look at the data and what’s happening in the market so that you can make an educated decision. First off, according to real estate experts, anytime you have inventory levels that are at 6 months of inventory or below, we are in a seller’s market. And anytime we have levels above six months, we are in a buyers market. It’s sorta like the supply and demand theory, and when there is a limited supply like there is right now, then the prices go up. I’ll tell you this, we are in a seller’s market! We have inventory rates of under a few weeks. So let’s see what the market looks like here locally. Is it a good time to sell here in Santa Cruz Ca? Well, let’s look at what is happening in the month of February. In Santa Cruz we currently at the time of this video we have 33 homes that are active. The average time to sell is only 19 days, with the average list price received of 104%. Now you may be wondering if it’s a good time to sell on the Westside of Santa Cruz (95060). On the Westside, we only have 7 active homes on the market with the average list price received of 108%. Inventory levels are at record lows, but demand is still as strong as ever. It’s a great time to sell as we are consistently experiencing bidding wars and homes being sold above list price. Feel free to reach out to me for a hassle-free strategy session. I’m looking forward to hearing from you and as always Maya Crelan Ray with David Lyng Real Estate here and I hope you have an amazing day.