How’s the market for January – February 2023? FRIGID. Most indicators are quite low relative to a year ago, to put it mildly. Our newsletter will give you more detailed statistics for the county and cities for both single family residential and condos. It’s quite sobering to see the reduction in almost every indicator and cause to pause:
- For Santa Cruz County:
- Single Family Residential Change from Jan 2022:
- -7.0% Median sales price drop
- -10.2% Average sales price drop
- -25.6% Drop in number of sold houses
- -7.1% Drop in sales price / list price ratio
- +29.7% Increase in active listings on the market
- +44.3% Days on Market
- Condominiums and Townhomes Change from Jan. 2022
- -5.2% Median Sales Price drop
- -7.3% Average sales price drop
- -55.0% Drop in Number of Sold Units
- -5.8% Drop in sales price / list price ratio
- +15.0% Increase in active listings on the market
- + 51.3% Days on Market
It seems we are now in the low tide after the pandemic storms with the cold winds of interest rate augmentation and market uncertainty freezing our desire to buy and sell. Winter is upon us, and we are all wondering if we will have a real estate spring and summer this year. Maybe slightly.
You can reach Christine at 831-600-6550 or schedule a meeting on her calendar if you need help with your real estate or want to chat.
