Santa Cruz Real Estate Market Reports

Stay informed about the housing trends in Santa Cruz County by catching our monthly market reports. Check out the latest numbers, and get insights from local guest Realtors who offer their analysis of the Santa Cruz housing market.

Santa Cruz Housing Update (& How Events Halfway Around the World Affect Our Local Market)

santa cruz real estate market report: july 2015

The following market report is provided by Liz Kroft  & Lance Hulsey of Mainstream Real Estate Group.

This last month saw Germany looking for Greece to pay their own way. Greece went begging for more time and money to the European Union and the International Monetary Fund. Germany capitulated and Greece received a restructured loan deal and the housing market in Santa Cruz benefits.

Say what?

How does the Greek debt crisis have anything to do with the Santa Cruz housing market?

And by the way, since when did this become a blog about international monetary policy?

How does any of this really have any relevance to rents, home prices, and the real estate market in Santa Cruz?

Well it all has to do with the strength of the dollar around the world and interest rates closer to home. Long story short, because the European Union lent the money to Greece we averted an international monetary crisis and the dollar came out stronger while interest rates remained stable. Thus, everything basically stays the same and the banking system and the Federal Reserve take a sigh of relief.

Now we can focus on the big question on everyone’s mind once again:

Are we in a bubble?

In our March 9th article we commented on how the 2015 market was coming out of hibernation and perhaps into a bubble. Other economists and industry experts seem to believe that we are in a bubble:

Yet others say that we are in fact NOT in a bubble:

In considering your opinion, take these two piece of information as you will:

  1. The Santa Cruz County median home prices are the highest they have been since 2007
  2. The National Foreclosure Inventory Is the Lowest it has been since December 2007

For the housing market’s continued recovery, there is no doubt that affordability is going to be a major deciding factor.

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Santa Cruz Real Estate: Extension of Silicon Valley or Still the Slow Coast?

Silicon Valley Santa Cruz Real Estate

The following market report is provided by Liz Kroft  & Lance Hulsey of Mainstream Real Estate Group.

The Santa Cruz area has long straddled the line between being considered an extended suburb of Silicon Valley and firmly staking its claim as part of the Monterey Bay Area and the Central Coast.

Those of us who live in this beautiful part of the world would strongly argue that, we are NOT part of Silicon Valley but are uniquely Central Coast. Santa Cruz anchors the southern stretch of the Slow Coast and not Silicon Valley. We will leave that honor to Gilroy. We are Brethren to Monterey, Salinas, and Carmel. Not San Jose, Cupertino, and Sunnyvale.

Keep Santa Cruz Weird

Or are we?

The lines are blurring, and Santa Cruz seems to be in the midst of an identity crisis.

Nowhere is this more evident than in the local real estate market.

As it relates to housing rents and sales, we are being sucked into the Silicon Valley market demographics. Santa Cruz County is gradually losing its Central Coast identity as it’s drug into the hot, hot markets of one of the country’s largest tech hubs.

A recent Housingwire article ranked the Santa Cruz-Watsonville market as the 7th hottest housing market in America,  just behind San Jose-Sunnyvale-Santa Clara in 3rd and San Francisco-Oakland-Hayward in 2nd.  

Rents are astronomical in Santa Cruz, housing prices continue to rise, inventory and interest rates remain low, and more people are discovering that the commute “over the hill” is worth it when you can still buy a home in the Santa Cruz area for significantly less than in the heart of Silicon Valley.

Keep Santa Cruz Affordable

Thanks to Santa Cruz Life reader, Sarah Cox for suggesting this updated take on “Keep Santa Cruz Weird.”

Have we lost or have we won?

That depends on where you sit. Are you a renter or an owner of real estate?

Let’s look at the numbers.

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The Last Frontier of Affordable Housing in Santa Cruz?

santa cruz market report: May 2015

The following market report is provided by Liz Kroft  & Lance Hulsey of Mainstream Real Estate Group.

Have you had the pleasure of riding the Giant Dipper at the Santa Cruz Beach boardwalk? As you leave the station you immediately enter a tunnel before the ride really begins upward. That ride is a perfect analogy for this months market update.

This months update is kind of like the tunnel before the ride starts upward. We know the climb is coming, it is just that a bit of uncertainty has crept into the market this month before it all starts. Enjoy our Giant Dipper of a market report this month.

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