It is Time for Sellers to List their Houses in Santa Cruz, CA
Real estate information provided by Jondi Gumz of the Sentinel and Pete Cullen of Bailey Properties.
Have you been contemplating whether or not to list your house for sale in Santa Cruz? I have reason to believe that this is the time for sellers to list their houses and I will share with you why.
In the last quarter of 2012, the number of homes listed was less than the number of homes sold. This is evident in the graph provided. The last time this happened was in the last quarter of 2004, resulting in an escalation of home prices. These statistics support the trend of being the time for a sellers market. By looking at the graph, one can clearly see a consistent rise and drop in the number of homes listed creating a wave life pattern. The number of homes listed at the end of the 2012 quarter was at a low 435, showing that it is a good time to sell your home because there is less competition with other listings, increasing the probability of your home selling quickly. Also, the tech sector is on fire in Silicon Valley, which leads to a spill over effect for the Santa Cruz real estate market.
In the Sentinel, Gumz highlights a local family who has put their three-bedroom home in Santa Cruz Gardens up for sale this month at $629,000. They got five offers in one weekend, and it sold in four days for more than the asking price. A teacher who bought her two-bedroom home ten years ago said that when she saw inventory drop by half, that was motivation to list her home in order to prep for retirment.
My listing at 436 36th Ave has also had multiple offers, despite being on the market for only 3 weeks. I went into contract at over the asking price with a very quick close of escrow. The buyers are looking out and writing offers because there is very little good inventory.
I have been focusing on sellers in this blog, but I haven’t forgotten about those of you who are first time buyers! Here is a nice quick guide on qualifications for a home loan and what you can expect your monthly mortgage payment to be one you move in.
If you have any questions or comments concerning the content provided, feel free to contact me! Whether you are looking to buy, sell, or learn more about Santa Cruz County, you can trust that I will give you helpful information. I have been a resident of Santa Cruz County since 1972 and I have the experience you need, as a seasoned Realtor to help guide you through the home buying process, whether you are looking to buy or list your home. Contact me at firstname.lastname@example.org or visit my website!