Despite the continuous onslaught of “atmospheric rivers” continuing to bombard Santa Cruz County this winter,  and high interest rates, prices have remained steady.

The median price for February was $1.21M, which is actually a 6.6% increase from January.  The number of sales was very low, but that seems to primarily be due to the limited number of homes for sale.

Anecdotally, the buyer activity and demand so far this month is high. In my own transactions and in comparing notes with colleagues, I am hearing many cases of multiple offers, some with overbids. This is especially true for properties that are in very good condition as well as the properties in the most popular neighborhoods. Fixer-uppers are not selling as quickly unless they are priced aggressively or have sought after locations. In those cases, there is still strong demand. I suspect that the final numbers for March will show another increase in median price.