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Market Report May 2023

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Market Report May 2023

The stats for the Santa Cruz County Real Estate market for the month of May show a strong market. The median price came in at $1.35M, which was the same for April and an increase of $231,000 from March. It was also slightly above the median price for May of 2022.  The number of sales has increased substantially over the previous months but is still very low from a historical perspective. A large reason for this is that there are still not enough homes to sell.  This makes it a great market for sellers.

Interest rates are still high compared to the historic lows, but there has been a little relief. For those that can afford to purchase now, we recommend buying now and then refinancing later when rates go down. There are no guarantees that they will go down, but various sources are predicting rates to settle down in the 5-6% range or possibly lower.

PDF versions of these reports are available for download under "Resources" below.

 

MarketReport May 2023 SFR
MarketReport T&C May 2023

Downloadable Resources

Santa Cruz_County_Market Report_May2023

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