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 April was $1,405,000, a slight decrease from the previous month. The Condo/Townhome median sale price was $945,000, higher compared to March. Homes on average were selling a whopping 110.00% of the listed price (compared to 109.9% of the “original listed price”) and the median days to receive an accepted offer for the county was 8 days. The real estate inventory was 1.1 months for the county.
APRIL STATS SANTA CRUZ COUNTY BREAKDOWN
CURRENT INTEREST RATES AS OF MAY 3, 2022
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
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 "C/W/E" translates to Canceled, Withdrawn or Expired listings, meaning removed from the market.