We continue to see strong motivated buyers in the market through the summer. July we saw 16.6% of properties listed in escrow, at the close of August it dropped marginally to 14.1%. The median price for what it's worth rose from an average selling price of $467,000 in July with 188 homes selling to $485,000 in August with 166 homes closing escrow. In Santa Clara, there was an influx of foreign money purchasing homes in the Silicon Valley and some Euros looking in Santa Cruz.
We are hearing from the 30-45 crowd that home ownership is still an attractive goal and that after all the media debate and pundits ranting, folks want to own their own home. We are living through a transition where not everyone will have the privilege however.
Quality properties priced according to this market sell very quickly, often under 10 days, while overpriced and under maintained homes languish.
Santa Cruz is a gem, tucked away from the madness of the greater world, clean air and fresh breezes! Enjoy your day hiking, biking, swimming, kayaking, kite surfing, or walking the beach.
It's a great place to call home.
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