Real Estate End of Year Market Report for Santa Cruz | 2018
Get to know this quintessential California beach town!
Santa Cruz is located on the northern edge of Monterey Bay and has 29 miles of coastline and includes numerous state parks and beaches. It encompasses a total area of 607 square miles, of which 445 square miles is land and 162 square miles is water.
Many buyers looking for Santa Cruz CA homes for sale are drawn to its pristine beaches, lush redwood forests, and rich farmland. The area has an ideal Mediterranean climate with low humidity and sunshine 300 days a year.
Santa Cruz County includes the incorporated cities of Capitola, Santa Cruz, Scotts Valley, and Watsonville. Some of the most popular communities include Aptos, Bonny Doon, Brookdale, Corralitos, Felton, Larkin Valley, La Selva Beach, Los Gatos Mountains, Rio del Mar, Scotts Valley, Seacliff, and Soquel.
Find your dream home in Santa Cruz CA!
Home to more than 250,000 residents, the county’s strong local economy is anchored by technology, agriculture, and tourism. Santa Cruz CA is also known for its captivating blend of nostalgia, natural beauty, and engaging activities such as kayaking, sailing, hiking, surfing, and golf.
You’ll also find an array of art galleries, museum, festivals, and outdoor performances. There are premier cultural events such as Santa Cruz Shakespeare, Capitola Twilight Concerts, the Santa Cruz Film Festival, Scotts Valley Art and Wine, and Open Studios.
Real estate in Santa Cruz CA
The real estate market in Santa Cruz is diverse and includes single-family homes, waterfront houses on pristine beaches, condos, townhomes, apartment buildings, commercial development properties, golf properties, and land for sale.
The homes in this area offer the ultimate comfort and lifestyle with prices that are absolutely to die for. Living here, you’ll be constantly surrounded by beautiful nature and great surf. It’s simply a wonderful place to call home.
End of Year Market Report for Santa Cruz CA
Last March, the median price of single-family homes in Santa Cruz County hit a record of $935,100. Since then, the median price has stayed above the $900,000 mark.
There was also an increase in the inventory of homes for sale. During the first week of November, there were 544 listings. This is 9% more than the available number of homes for sale last year.
As for the number of sold homes, it was the same as about last year. However, with more homes on the market, the unsold inventory index — listings divided by sales — was 3.1 months, up from 2.8 months a year ago.
According to MLSListings, the median days on the market to sell a home was 35 days in October, up from 20 days in last 2017.
The median price for condos in Santa Cruz County was $565,000 — down from the January record of $637,500 — on 41 sales. There were 138 listings, a 68 percent increase from a year ago, and the unsold inventory index rose to 3.4 months.
For next year, it has been predicted that California’s median home price would go down by 0.2 percent.
Click here for the most recent list of homes for sale in Santa Cruz CA.
Call me, Sandy Wallace, at (831) 818–7099. I am here to assist you with all of your home buying and selling needs in Santa Cruz CA. I am committed to providing you with the best service possible.