SANTA CRUZ COUNTY HOME VALUES - MARKET REPORT 2011
Looking back at Santa Cruz County Home Values in 2011, the trend has been slightly downward, but not by much compared to the past 3 years.
The median home price for all of Santa Cruz County in 2011 was $465,000. this is down slightly from 2010 when the median home value in Santa Cruz was $520,000 but about the same as 2009 when the median Santa Cruz county home sold for $495,000.
GRAPH OF SANTA CRUZ COUNTY HOME VALUES 2009-2011
Of the 1821 home sales in Santa Cruz County in 2011, 818 were short sales or foreclosures (REOs), which means almost 45% of all home sales in Santa Cruz were distressed sales. That is a huge portion of our market. I expect to see more short sales and foreclosures in 2012, but with a trend toward more short sales than foreclosures.
Overall, more Santa Cruz homes are selling and at a slightly lower price than the previous year. Santa Cruz home values are getting to be attractive to home buyers and first time home buyers are making up a large percentage of the market. With the historic low interest rates and great deals on foreclosures and short sales, many people have decided that now is the time to buy.
Contact me for more information about Santa Cruz home values in your neighborhood or city.