The real estate market in Santa Cruz County remains robust, with the median sale price for residential properties reaching an impressive $1.2 million over the last 90 days. This figure, based on a substantial sample size of 414 closed sales, reflects the continued high demand for housing in this desirable coastal region. Despite the lofty price point, properties are moving quickly, with a median days on market of just 21, indicating that well-priced homes in good condition are being snapped up by eager buyers. The average price per square foot now stands at $803, a testament to the premium that homebuyers are willing to pay for the lifestyle and amenities that Santa Cruz County offers. With its picturesque beaches, redwood forests, vibrant communities, and proximity to Silicon Valley, it's no surprise that the housing market here continues to thrive, even in the face of economic headwinds. As we move forward, it will be interesting to see if these trends persist and how the market adapts to the evolving needs and preferences of buyers in this dynamic and sought-after area.
Santa Clara County's residential real estate market remains strong, with recent statistics painting a picture of high demand and brisk sales activity. Over the past 90 days, the median sale price for residential properties in the county stood at an impressive $1.6 million, reflecting the desirability and value of homes in this sought-after region. Buyers are willing to pay a premium for the location, amenities, and quality of life Santa Clara County offers. The average price per square foot came in at $1,074, further underscoring the significant value of real estate in the area. Despite high prices, properties are selling quickly, with a median of just 11 days on the market. This indicates that well-priced homes in good condition are generating substantial interest and are often subject to multiple offers. The fast pace of sales suggests that buyers need to be prepared to act decisively when they find a property that meets their needs. The statistics, which encompass 2,961 residential property sales, provide a robust and reliable snapshot of the current market conditions in Santa Clara County.
The real estate market in Monterey County remains robust, with a median sale price of $900,000 over the last 90 days based on nearly 500 residential property transactions. This elevated median price point reflects the desirability of the area, which boasts stunning coastal views, a pleasant Mediterranean climate, and proximity to the tech hubs of Silicon Valley. Homes are selling at an average of $768 per square foot, indicating that well-maintained properties in prime locations are commanding premium prices. With a median of just 22 days on the market, houses are being snapped up quickly by eager buyers, resulting in a fast-paced and competitive market environment. Limited inventory coupled with strong demand from affluent buyers, many of whom are seeking second homes or investment properties, is expected to keep Monterey County in a seller's market in the near-term. However, rising mortgage rates and economic uncertainty could temper price growth and sales velocity as the year progresses.
Paul Burrowes, CRS, CCEC, SFR, NHCP, LHC, REALTOR® Licensed REALTOR® with over 15 years of experience and expertise. Commits to being on time and transparent. Acts as your consultant to ensure you make the best decisions to fit your transaction at every step in the process. Negotiates towards a low stress, win-win outcome. Handles all the details for you, ensuring the hundreds of steps in your real estate transaction go smoothly. Proudly serving Silicon Valley, Santa Cruz, Monterey, and Santa Clara Counties! | DRE# 01955563 | (831) 295-5130 | paul@burrowes.com |
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