Santa Cruz

Market Data for Single Family Homes Year-over-Year - July 2020 vs. July 2019

High Demand for Housing Continues Despite COVID. In Santa Cruz county, inventory was down -7% from June, and down -35% from July 2019 with 390 homes available, compared to 603 homes last year. Number of new listings for the month of July increased 5% over June, and decreased -11% from July of last year.

In Monterey county, inventory was down -7% from June, and down -24% from July 2019 with 668 homes available, compared to 880 homes last year.

- MLSlistings

Market Data for Single Family Homes Year-over-Year - July 2020 vs. July 2019

More market data reports below:

Market Data Single Family Homes July 2020 vs. June 2020

Market Info Q2 2020 National Economic Overview

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Market Data Single Family Homes July 2020 vs. June 2020

Despite the coronavirus pandemic, the real estate market continued to exhibit strength during July. Median prices again rose across all five MLSListings counties compared to July 2019; the lowest gain was 7% in Santa Clara County, and the highest increase in median price was 19% in San Benito County. 

In Santa Cruz County, the median Single Family home cost $1,000,000 and sold in 15 days for 100% of the list price based on 223 sales in July 2020.

 MLSListingsMarket data single family homes July 2020 vs. June 2020

More Market Data here

May 2020 vs May 2019 Real Estate Market Data for Single Family Homes

Market Data Condo, Townhomes May 2020 vs April 2020

June 2020 vs. June 2019 Market Data for Single Family Homes

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Market Info Q2 2020 National Economic Overview

Q@ economy market data covidQ2 2020 National Economic Overview After a strong start to the year, the US economy was put into a coma in mid-March to prevent the novel coronavirus from potentially killing millions. Were it not for the massively stimulative policies emanating from Washington, DC, another Great Depression would have been a distinct possibility. Fortunately, the worst was avoided and the shortest recession in US history probably ended in April, if not May. As for the recovery, it is likely to be check mark shaped, meaning a steep decline followed by a slow steady recovery, such by late 2022, GDP has recovered to where it was before the onset of the pandemic. That said, there is the possibility of a dreaded W-shape recovery if the virus forcefully returns in fall 2020. As for unemployment, it will probably end the year above 10%, but well down from its peak of almost 20% in April. Regarding the November elections, markets are beginning to realize that presumptive Democratic nominee Joe Biden’s chances of unseating President Trump are currently well above 50%.

In the housing market, through mid-March sales were very strong but then began to quickly weaken and bottomed out in early April, with Y-o-Y sales activity down about 30%. Since the end of nationwide lockdowns, sales have staged a furious recovery, with first time mortgage applications having not only made up all lost ground but up Y-o-Y over 20%. There are several reasons for the strong...

Market Data Condo, Townhomes May 2020 vs April 2020

In Santa Cruz County, the median Residential Common Interest home cost $616,500 and sold in 19 days for 98% of the list price based on 26 sales in May 2020.

• Inventory was up 14% from April and up 20% from May 2019 with 130 homes available, compared to 108 homes last year.

• Average days on market (DOM) increased by 22 days from 26 to 48 days or 85%; median DOM went up by 8 days from the month before.

• Number of new listings for the month of May increased 61% over April and is up by 8% from May of last year.

• Closed sales increased 8% from April from 24 to 26, but was down -35% from May 2019.

In Monterey County, the median Residential Common Interest home cost $476,000 and sold in 37 days for 98% of the list price based on 12 sales in May 2020. Read More

market data condo_townhomes May 2020 vs April 2020

More Market Data Analysis Reports

May 2020 vs May 2019 Real Estate Market Data for Single Family Homes

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May 2020 vs April 2020 Real Estate Market Data for Single Family Homes

Real Estate Market Data Pricing for Single Family Homes from April 2020 to May 2020.

In Monterey County, the median Single Family home cost $650,000 and sold in 18 days for 98% of the list price based on 90 sales in May 2020.

• Inventory rose 12% from April, but down -18% from May 2019 with 697 homes available, compared to 845 homes last year.

• The market slowed down - Average days on market (DOM) rose 12 days from 42 to 54 or 29%; median DOM increased by 7 days from the month before.

• Number of new listings for the month of May increased 64% over April and down -18% from May of last year.

• Closed sales dropped -32% from April from 132 to 90 and down -63% from May 2019.

real estate market data May 2020 - April 2020

Read More

Compare:

Feb.-March 2020 Market Data

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Real Estate Returns VS. Stock Market Returns

real estate returnTruth be told, comparing historical stock market returns with real estate returns is an apple to oranges affair but it is still possible to get a general idea of how each one fared over a specific time-period through Exchange Traded Funds (ETFs) and their historical returns in asset value.

First, let us define what an ETF is:

An ETF is a security that holds and tracks a collection or group of securities (i.e., stocks). ETFs are listed on an exchange just like a stock and therefore trade just like stocks.

For this particular example, the following ETFs will be compared as they give a good indication of the overall results of the U.S. Stock Market and U.S. Real Estate over a 10-year period. :

  • S&P 500 ETF Total Return (SPY)
  • Vanguard Real Estate ETF Total Return (VNQ)

At the time of this writing, the 10-year average return for SPY was 11.39% while the average return during the same period for VNQ was 8.68%.

This, of course, does not include the dividend yield or even rent paid to the investor during the given period.

Again, measuring stock market returns to real estate investment returns does not give a clear indication of which one offers the investor a better absolute return but it does help to show that both their asset values do increase at a decent rate over time.

If there were a way that rental income could be averaged and factored in alongside real estate asset values during a given time frame, there would more than...

The Differences Between Real Estate and Stocks

So what differentiates stock investing from buying real estate?

buying investing real estate property in santa cruz

For one thing, stocks are usually the more popular investment because people with large or small budgets can invest in them.

On the other hand, investing in real estate requires a larger upfront payment, which most small-time investors do not have.

Some of the fundamental aspects of real estate investing are as follows:

  • Entails the purchase of physical land or property.
  • Rent can be collected for a steady income stream.
  • Investors can make money through property appreciation as well.
  • Purchased property can be leveraged to acquire more holdings.

The general particulars of stock investing are as follows:

  • Buying a stock of a company is buying a piece of that company.
  • Investors make money when the value of the stock increases.
  • Investors make money when companies pay out dividends (not all companies pay dividends).
  • Dividends may be reinvested to purchase more stock of a company and thus grow the initial investment further.

Even though stock investing has traditionally been the more popular investment vehicle when an investor purchases a piece of real estate they own a tangible asset. In other words, they own something concrete and not a piece of paper stating that they own part of a business they will most likely never have...

What's the Better Investment : Real Estate or Stocks?

stock marketAn investment portfolio of a mix of stocks and real estate is always ideal but what if owning both were not possible?

 What if you could only choose one of them and had to stick with it for the rest of your investing life?

 Which one would be the better choice?

 While stocks have been a traditional mainstay for investors for over two centuries within the U.S. - the New York Stock Exchange (NYSE) began in 1817 - many would-be investors have not considered the benefits of using real estate as an investment vehicle instead of just a place to lay one’s head.

 Real estate can offer lower risk, higher returns, and more diversification than stocks if invested correctly.

 That is not to say that stocks do not offer benefits to investors, it is just that real estate has many more practical applications that can translate into real-world value - value that a stock certificate can not achieve outside of the investment arena it is traded in.

 So, which one is the better investment vehicle?

 Each investor’s financial situation and goals are different which makes the final decision an individual one.

 However, sound investing information can go a long way to helping investors make a decision that is right for them.

 By no means is this article trying to negate investing in one asset class over the other. Its main objective is to ...

Are Open Houses Worth Your Time?

open house in santa cruzReal estate and open houses: the ubiquitous pairing that may not be as necessary as you think. Open houses have been a staple of the real estate industry for decades. When a seller decides to list their home, naturally they wonder when the real estate agent will host the open house at their property.

During an open house event, the real estate agent welcomes the general public–and hopefully, potential buyers or buyer's agents–to view a home for sale. These events are typically held on the weekend for a few hours in the afternoon. 

Here’s the thing: a survey by HomeLight of leading real estate agents across the country found that 63% of them do not always recommend sellers have an open house.

The truth is with our modern marketing tools and the way today’s buyers view properties, we don't necessarily need an open house to woo buyers. 

What should an open house do?

An open house intends to let prospective buyers tour the home when the listing agent is present to answer any questions they may have. Marketing the open house is supposed to increase the home’s exposure. Busy open houses build a sense of excitement and demand, hopefully leading to a more attractive offer in an expedient time frame. While in some markets that’s a great way for a seller to get multiple offers, some buyers are turned off by high demand and decide not to make an offer when they see a highly trafficked open house.

What’s really happening at open houses

We know open houses...

Current Homes for Sale
Santa Cruz County
City # Price Range
Aptos Homes 88 $160k - $6.7m
Capitola Homes 49 $75k - $11.9m
Rio Del Mar / Seascape Homes 47 $369k - $6.7m
Santa Cruz Events 234 $80k - $20.0m
Santa Cruz Homes 234 $80k - $20.0m
Santa Cruz Real Estate 234 $80k - $20.0m
Monterey County
City # Price Range
$0-$300000 288 $150k - $6.1m
Alta Mesa-Monterey 288 $150k - $6.1m
Big Sur Homes 6 $1.3m - $3.0m
Carmel Homes 220 $15k - $24.0m
Fishermans Flats 288 $150k - $6.1m
Glenwood Circle Monterey 288 $150k - $6.1m
Monterey Homes For Sale 288 $150k - $6.1m
Oak Grove Monterey 288 $150k - $6.1m
Old Town Monterey 288 $150k - $6.1m
Pebble Beach Homes 65 $695k - $33.0m
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