Sales of single-family homes, condominiums and townhouses continued their strong performance last month, as buyers competed ferociously for properties as soon as they hit the market.
Sales were up markedly over July of 2014 with 227 single-family homes changing hands, as compared to 200 a year ago, and 62 condos and townhouses closing versus 52 at the same time in 2014.
Days on market fell as well. For single-family homes, days on market averaged 45, compared to 51 last year; for condominiums and townhouses it dropped from 62 to 38.
Average sales prices also rose. For single-family homes the price went from $813,254 in July 2014 to $829,653 last month. For condominiums and townhouses the average went from $453,138 last year to $468,577 in July 2015.
We have every reason to believe the upward trend in sales and prices will continue. With demand for homes outpacing supply and interest rates remaining at historic lows, buyer competition will maintain strong sales. It is not too late to get into the market. If you want to know what your home is worth, please call me. If you are looking for a home in Santa Cruz let me guide you through the process.