Santa Cruz Real Estate Market Update: February 2021

What are my expectations of the Santa Cruz housing market and Santa Cruz County housing inventory as we roll into the spring of 2021? This is a question I get asked on a very regular basis. Are we going to see housing inventory levels go up in 2021? And how will this affect Santa Cruz County housing market as a whole?

Hi, I'm Shemeika Fox, your Santa Cruz Real Estate Expert. In my 16 years of experience in the real estate industry, I have never seen inventory levels this low. What does that mean for Santa Cruz home sellers and our Santa Cruz home buyers?

Lower inventory levels cause home prices to go up because buyers are bidding over the list price. So this causes homes to increase at higher levels. This is great for Santa Cruz home sellers but makes it much more difficult for Santa Cruz home buyers. Competing with multiple offers on properties makes it hard for buyers to have their offer chosen or stand out. We have to think creatively, be persistent and relentless, all the while, maintaining our charm and professionalism, of course. And we have to be willing to fight for that right property.

This current 2021 seller favored real estate market allows sellers to choose the terms of the contract that are most favorable to them. Santa Cruz home sellers are taking factors into consideration, such as down payment, cash, loan type, contingencies, timeframes, et cetera. We are even experiencing buyers that are willing to remove all contingencies with their initial offer. Of course, every circumstance is unique and individualized.

We here at Fox Realty Group take great pride and honor in strategizing for each individual client.

Okay, check out the most recent stats for our Santa Cruz housing market for February, 2021. In Santa Cruz County, the median single family home cost 1,110,000 and sold in 11 days for 102% of the list price based on 124 sales in January, 2021. Inventory was down 5% from December and down 3% from January, 2020 with 225 homes available compared to 232 last year. Average days on market increased by nine days from 30 to 39 or 30% median days on market was unchanged from the month before. Number of new listings for the month of January decreased 1% over December, but is up 39% from January of last year. Closed sales decreased 27% from December, from 170 to 124 homes from last year.

If you or anyone you know would like to further discuss Santa Cruz housing market and how it will affect your housing goals, please reach out to us so that we can schedule a complimentary, confidential consultation. I'm Shemeika Fox, your Santa Cruz Real Estate Expert and as always, I'm here to help.

Shemeika Fox: Your Santa Cruz County Real Estate Expert. My passion for helping people achieve their Santa Cruz Real Estate dreams is complimented by my strong work ethic. Our focus is to help you sell your Santa Cruz County California property faster and for more money… and to help you find and buy the perfect home with little hassle.

Shemeika Fox
Santa Cruz Realtor
eXp Realty of California Inc.
Fox Realty Group Inc.
831.588.2334
[email protected]
https://www.yoursantacruzrealestate.com/
DRE: 01479629

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