Interest rates are subject to change daily. Current interest rates shown are indicative of market conditions. Individual rates may vary upon borrower’s qualification and loan terms. Source: wellsfargo.com
Last month’s numbers are in and the median home sale price (single family residential detached) for all of Santa Cruz County per the MLS ( multiple listing service) for February was $1,058,000, down slightly from January . The Condo/Townhome median sale price was $625,000, also down from January . Homes on average were selling 102.2% of the listed price(compared to 100.6% of the “original listed price”) and the median days to receive an accepted offer for the county was 12 days . The real estate inventory was 1.3 months for the county, still incredibly low.
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 what's 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 "C/W/E" translates to Canceled, Withdrawn or Expired listings, meaning removed from the market.