Here is this week's Santa Cruz County's real estate update. Each week during this current SIP (shelter in place) and COVID-19 pandemic, I will be providing an update. Why? Because this is a fluid situation, that is new to everyone, and things are changing almost daily. Let's stay informed!
I've put together some graphics to illustrate comparisons. I've broken down the last 4 weeks, and then highlighted the last week. So, let's compare whats been going on in real estate over the past several weeks. Have there been changes since the COVID-19 outbreak ? If so, what does that look like? The things to look out for would be drastic changes in price reductions, transactions falling through, and removed listings. What do you notice?
For reference: "TFT" means "transaction fallen through" or canceled escrow. "C/W/E" translates to Canceled, Withdrawn or Expired listings, meaning removed from the market.
What has been selling over the past week?
Note the Santa Cruz County median sale price last month was $949,000, and at this time last year total listings that went into contract or sold in the same week was also 120 and new listings added were 63 ( this week was 68).