December rounded out the year in Santa Cruz County with an increase in unit sales of 17.7% from the previous month and an increase of 6.2% from 2010.The average sale price for single family homes ended 5.5% below 2010 at $544,226 but the overall total volume was only down 1.6%.
Despite high unemployment, slow economic growth and other problems plaguing the economy, most American households believe that now is a good time to buy a home. I have seen an increase in the number of interested buyers and just had a listing go under contract in 5 days.
Negative home-selling sentiment is strongly related to difficulty in finding buyers at desired sales prices, as well as the large overhang of mortgages past due or in foreclosure. And with only 5 months of inventory, most sellers should be excited over the turnaround.
Remember the most important real estate market is the street where you live or want to buy. If you are curious about a particular area, please give me a call at (831) 457-5510 so I can give you the numbers that are specific to you.