Santa Cruz Housing Market Update: February 2021

By
Real Estate Agent with Coldwell Banker - Santa Cruz BRE 01455690

 

Hi Guys, it’s Jessica Wallace here, Santa Cruz REALTOR. I wanna give you a brief update about where we stand in February, 2021 in the Santa Cruz housing market.

This is the most extreme seller’s market I have ever seen. What’s causing that is high buyer demand and also very very low supply of homes.

We are at one of the lowest I’ve ever seen, at 135 homes currently active on the market in the entire Santa Cruz County. What this is causing is home prices to rise dramatically.

In January, 2021 our average home price reached $1,244,000 in Santa Cruz.

A year ago, in January, 2020 our average price was 965,000. So home prices have gone up a lot. And what this extreme lack of inventory is causing is many multiple offers on any property that is well-priced.

And it’s not just 3 offers or 5 offers, it’s 15 offers, it’s 23 offers, it’s sometimes 30 offers, and this is really escalating the rise in home prices in Santa Cruz County.

Until we see a lot more homes come on the market, I don’t see this market leveling out. There’s just not enough supply for all the buyers that wanna live in our beautiful area.

If you are thinking about selling your home, please do call me, it’s a great time to sell you home. If you are thinking about buying a home, it is very important that you work with an experienced and local buyer’s agent.

My name is Jessica Wallace, contact me with any questions.

Comments (2)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jessica and thanks for your market report for the Santa Cruz area.  Hope you are having a great week.

 

Apr 28, 2021 10:04 AM
Jessica Wallace

Thank you , you too!

Apr 28, 2021 01:47 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jessica this is valuable information for both Buyers and Sellers in your area.

Apr 28, 2021 12:16 PM
Jessica Wallace

Thank you!

Apr 28, 2021 01:47 PM