Just a quick look at recent activity in the far ends of the market. I'm focusing on single family homes in Santa Cruz county, but if you would like me to prepare a similar report for any market segment or in a different county, just drop me a quick e-mail to let me know what you're looking for.
After our 3-month lull in the upper end of the market, we had 3 properties priced above $2,000,000 enter and close escrow during the month of April in Santa Cruz county. All 3 were beachfront, and they sold for $2,350,000, $2,7000,000, and $6,000,000. It's refreshing to see some revitalization in this segment.
So far in May we already have one new pending, another beachfront at $3,200,000. But don't worry, there are a variety of amazing luxury properties waiting for the right buyers. E-mail or call me if you're interested.
At the other end of the spectrum, investors and first-time home buyers had an active 30 days. During that time, we had 143 new sales of single-family homes priced at $500,000 or below, but only 85 new listings, 7 of which have already been withdrawn or canceled. Of the net 78 new listings, 31 are already under contract.
Between new sales and new listings, there is a 65 home deficit, and there are currently 205 homes on the market. If things were to continue in this way, in just over 3 months we would be completely out of homes priced below $500k.
This data is from the MLS, gathered on May 10, 2009. Happy Mother's Day.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment