Many people think that this is a slow time of the year for Real Estate, for the Bloch Real Estate Team, it is not the case! There continues to be a strong demand for Santa Cruz County properties. Rainy weather and holidays may slow down some of the “looky loos”, but the serious buyers are still looking and still buying. There will not be enough homes for sale to satisfy the need this year, and we expect the demand to carry over into 2018, making it a great market for selling.
In analyzing the stats for October 2017 in Santa Cruz County compared to the same time last year, we have seen a 10.1% jump in the median sales price for single-family homes (from $781,000 to $860,000) and the number of sales for the month was 186, up from 138 from the same time last year. Properties also sold quicker on average and earned on average 100% of the list price.
Because our market is so closely affected by Silicon Valley, we follow those stats as well. Santa Clara County has seen a 20.2% increase in median price for the same period ($1.04M to $1.25M). The number of sales were down, but that is probably because there is just so little to buy. There is less than one month of inventory on the market. This means, at the rate properties are selling, if no new listings came on the market in Santa Clara County there would ZERO home for sale after 30 days!!