Market Conditions

December 2018: Santa Cruz County Real Estate Update

December 2018: Santa Cruz County Real Estate Update

The housing market is softening, not just in Santa Cruz County but across the country.

Every year Buyers are less active during the holiday season, but in 2018 the local market started to slow down earlier and more dramatically than recent years.

Hopefully we all know well enough not to believe everything we read or hear about on the news. Before I get too deep into things, let me set one thing straight: the market has not turned into a buyers’ market. What it has done is slowly start to shift into a lower gear and move more towards equilibrium.

October 2018: Santa Cruz County Real Estate Update

October 2018: Santa Cruz County Real Estate Update

The time may have finally come. After what has felt like an eternity for many would-be home buyers, the crazy seller’s market we’ve grown so accustomed to seems to be cooling off…but it comes with a catch: rising interest rates.

It has been relatively smooth sailing for sellers over the last few years. Demand for housing has risen in conjunction with the improving economy and builders have struggled to keep pace with demand. This has resulted in a shortage of housing inventory that allowed sellers sit back, kick their heels up and let buyers quickly bid up the price of their homes.

September 2018: Santa Cruz County Real Estate Update

September 2018: Santa Cruz County Real Estate Update

Is the real estate market really moving towards a Buyer’s market in Santa Cruz County?

What goes up (and up and up) must eventually come down, at least a smidge, right? SpaceX landed the first stage of the Falcon 9 near Vandenberg in a historic first in early October so surely a dip in the market isn’t out of the question.

As interest rates continue to rise and inventory creeps up, the tide may be starting to turn in favor of homebuyers.

August 2018: Santa Cruz County Real Estate Update

August 2018: Santa Cruz County Real Estate Update

Is The Housing Market Normalizing?

The housing market data may not indicate a big and obvious shift yet, but ask experienced Realtors® in the Santa Cruz County market and the overwhelming consensus will be that change is afoot.

Strong demand and limited supply of homes for sale in recent years has created a market that overwhelmingly favors sellers.

This year inventory has finally started to free up, albeit slowly while prices have remained at all-time highs with interest rates continuing to climb.

July 2018: Santa Cruz County Real Estate Update

July 2018: Santa Cruz County Real Estate Update

"Geronimo!" said the housing market as median prices plunged in July for the third time in the last four months.

When it comes to housing, the conversation in recent years has been dominated by mind-boggling prices and limited supply - but, under the radar, there has been a gradual slowing of appreciation and rise in inventory this year.

The Santa Cruz County real estate market appears to be shifting.

June 2018: Santa Cruz County Real Estate Update

June 2018: Santa Cruz County Real Estate Update

The Santa Cruz County housing market has been a bit of a roller coaster lately. After trending down slightly in April and May the market did an about-face and headed back in the direction it has been going predominantly. That would be up, up, up in case any of you are wondering.

Fed up is what many people are as a result. Frustration with Santa Cruz County’s housing market surged in 2018. The ongoing housing shortage has impacted nearly everyone, from fast-food workers to tech employees, all across the Bay Area.

May 2018: Santa Cruz County Real Estate Update

May 2018: Santa Cruz County Real Estate Update

As summer officially kicks off in Santa Cruz County, we say goodbye to the wild flowers and hello to warmer temperatures. But even though it might be heating up outside, there are still foggy days and plenty of cooling off opportunities...surfing, hanging out at the San Lorenzo River or enjoying a cold beer at one of our local breweries. 

As we analyze the real estate statistics from May, it would seem that the market has found ways to keep cool too.

Closing Late On Your Sale Or Purchase....

Closing Late On Your Sale Or Purchase....

We've always told our clients that the closing date is a “target date” because things can sometimes come up at the last minute that can delay the closing a day, or a week, or sometimes even longer. It seems like it’s RARE to close on time nowadays.