Santa Cruz housing remained hot in October despite fewer listings, according to a report on realtor.com®. A list of the nation's top 20 hottest real estate markets shows Santa Cruz in the #12 spot. That was down from the #9 spot in September, but demonstrates that interest in homes in our market remains high.
This is traditionally a slower time for real estate sales as we head into the holiday season, and the numbers verify that fact. October saw 394 houses for sale, compared to 467 on the market in September. There was a similar decrease in sales for the month at 156 compared to 206 the previous month. The average price for a home in Santa Cruz County did not change appreciably between the two months. In October the average was just under $792,000 after a September that saw the average at just under $804,000
What does this mean for you? If you are thinking of selling your home this is still a good time to get ready for market. Interest rates remain low, so buyers are looking to take advantage before a possible rate rise next month. And prices remain steady because the inventory of homes for sale is low. If you are unsure about whether it is the right time for you to put your house on the market, contact me. I can walk you through the process, give you an idea of what your house is worth now, and help you decide whether or when to make your move.