Happy New Year!!
The Santa Cruz Real Estate market for single family homes picked up substantially in November & December of 2006, ending the year on an up note. The Santa Cruz Association of Realtors statistics show that the number of listings were down to 795 in December from a high of 1356 in July 2006. That means there are fewer homes for buyers to choose from. The year end average price of a single family home was $830,273 according to the Santa Cruz Association year end statistics. Compared to the year end average price for 2005 which was $835,034, that is a drop in appreciation of only -.6%. Not bad for all the bubble burst news we listened to all year. In my opinion it is a great time for Buyers to buy. The homes that remain on the market seem to be priced competitively.The sellers who have reduced the price of their homes to a realistic price are seeing them sell after sitting on the market for months. Already 2007 has all the markings of a better year than 2006. Call me anytime if you would like to chat about any aspect of the market.