The November sales stats for Santa Cruz County show a continued trend of limited inventory. For buyers looking to a purchase a home in Santa Cruz County there are “slim pickings”.   Although it is typical to see a seasonal drop in new listings this time of year, there are fewer homes available this year than there were last year at the same time.  One key indicator is only 1.1 months of inventory. This means that if no other listings came on the market, there would be ZERO homes for sale in just over a month at the current pace of sales.  Last year at the same time there was 1.5 months of inventory and 3 months inventory two years ago at the same time.   For perspective, a more balanced market is typically 3-6 months of inventory. 

For Sellers: Since we are not seeing many new listings in December,  2022  will likely start with very limited inventory.  This means a  “Seller’s Market” and  upward pressure on prices in 2022 as buyers compete for the homes that are available.

For Buyers: Despite the tough market conditions, we have been very successful this year helping buyers get into the market. Although prices are high, interest rates are low, and owning real estate continues to be an excellent long term investment. Call me to find out why our clients are successful in finding their dream homes.