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Santa Cruz Homes for Sale, Santa Cruz Homes Sold, and Months Supply

1 March 2011

It is not unusual for Santa Cruz homes for sale to far outnumber the homes sold. It is also common to find relatively long market times for Santa Cruz real estate when compared to other more populated areas such as San Jose, San Francisco, and the East Bay Area.

However, we look for long term trends in the relationship between Santa Cruz homes that have sold and the Santa Cruz homes currently on the market to get an accurate snapshot Santa Cruz real estate activity.

In this graph, we find that homes in Santa Cruz are slowly being absorbed as we awaken from the real estate crsis.

A graph of Santa Cruz homes for sale vs. homes sold in Santa Cruz by month since February 2009

Santa Cruz Homes For Sale vs. Santa Cruz Homes Sold by Month

It is easy to see the disparity between the large number of homes for sale In Santa Cruz and the number of Santa Cruz homes that actually sell. Closer examination also shows us that the numbers of both are slowly declining, but the number of sales in falling much less than the number of homes for sale in Santa Cruz.

If this continues, it could be a good sign for the Santa Cruz real estate market.

The next graph may offer an even more encouraging sign:

A graph showing the supply of Santa Cruz Homes on the market in months

Months Supply of Santa Cruz Homes For Sale

Here we see the number of months it would take to absorb the homes for sale in Santa Cruz based on current real estate activity. The months supply number of 4 to 5 months indicates a balance of Santa Cruz homes for sale and homes sold. The fact that the gray line is falling indicates the supply is slowly being reduced.

We also can see how many days it takes to market a home for sale in Santa Cruz. While this blue line zig zags dramatically up and down, it too was making a slow descent until the fall of last year, when it began to make a significant rise to well over 100 days on the market.

Fortunately, this increase in the number of days it takes for Santa Cruz home buyers to purchase their dream home and take it off the market has reversed itself.

We will be watching these Santa Cruz real estate trends closely. Unfortunately, it may be well into the spring real estate market before we know if Santa Cruz homes for sale will be welcomed by Santa Cruz County home buyers.

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Santa Cruz Real Estate Market Data – January 2011

28 January 2011

In looking at the real estate market data of single-family homes for sale in the city of Santa Cruz, it is difficult to see if we have hit the bottom and are slowly climbing upward of just taking a breather in our long decline.

Click on the image to see a graph of local Real Estate data corresponding to this article

When looking at the Median Home For Sale Price vs. the Median Sold Price, we can see quite clearly that there remains a large disparity between the number of homes that have sold versus the amount coming on the market. And lately, that disparity seems to be expanding from the 2009 levels.

It is not unusual for Santa Cruz to see more real state – especially single-family homes - come on the market in the spring and summer quarters. It should also be noted that there are fewer homes for sale and more homes sold in Santa Cruz in the recent quarter than in the last quarter of 2007, a promising sign.

But until Santa Cruz sees the median sales price trend upward and can reduce the disparity between the number of homes for sale and the number of homes sold, it will difficult to build a base from which we find any overall market appreciation.

In looking at the Median Prices for homes sold by quarter since Q4 2007, it is easy to see that we have fallen substantially from our Q4 2007 median sales price figure of $770,000 to our current level of $614,000 in Q4 2010. What is not so easy to determine is the significance of our slight uptick from Q1 2009 to today – a measly $21,000 increase.

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Categories : Santa Cruz Homes For Sale, Santa Cruz Real Estate News, Uncategorized

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Santa Cruz Capitola Beach Houses – Under $600,000!

6 November 2010

Santa Cruz Capitola Beach Houses for under $600,000??

Who doesn’t want to live near the beach! Who doesn’t want either a cute little cottage or a stunning contemporary home overlooking the scenic Monterey Bay?

Now, be honest – who wouldn’t want to be able to call their friends and invite them down to their beachhouse!

Whether it is a second home, a vacation home, a weekend getaway, or a full time ocean residence, this could be really easy to get used to.

That’s right – an ocean view, walk to the beach single-family home. Stroll down to the Santa Cruz Beach Boardwalk, visit Pacific Avenue shops, the Capitola Esplanade, The Santa Cruz Wharf, and some of the best restaurants in Santa Cruz County.

Most people are only able to enjoy this lifestyle with a beachfront vacation rental in Santa Cruz County. Beach properties are typically – and understandably – very expensive to buy. Until the recent market downturn.

Now - why rent when you can own one!

Here are Santa Cruz and Capitola vacation style bungalows – 1000 square feet or larger – all for less than $600,000!

Some are very near the beach, some are tucked away a short, sandy walk to the surf and the seagulls.

All of them provide a beach house getaway for you and your lucky friends!

Showing properties 1 - 5 of 31. See more Santa Cruz Beach Bungalows.
(all data current as of 2/22/2012)

$579,000 : 207 Almena St, Santa Cruz

3 beds, 2 full baths

Home size: 1,250 sq ft

Lot size: 5,357 sq ft
$599,900 : 118 Miramonte Dr, Santa Cruz

3 beds, 2 full baths

Home size: 1,600 sq ft

Lot size: 5,662 sq ft
$429,900 : 1654 Shirley Ln, Santa Cruz

3 beds, 2 full baths

Home size: 1,417 sq ft

Lot size: 4,791 sq ft
$399,000 : 405 Vick Dr, Santa Cruz

2 beds, 2 full baths

Home size: 1,665 sq ft

Lot size: 1.50 ac
$520,000 : 2050 Sequoia Dr, Santa Cruz

4 beds, 3 full baths

Home size: 1,668 sq ft

Lot size: 6,534 sq ft