Oh what a difference a year makes! This is the day I usually run stats for the week, and after comparing them to last years numbers, some real interesting figures are apparent. Last June the median price was $558,500 in Santa Cruz County.
There were 36 sales in June of 2007 and currently there are almost that many. The month is not over and all the figures are not in so we may end up very close to the same number of sales, but the median price will be closer to $385,000. And why is that? You guessed it...over 35% of these transactions were short sales or bank owned sales.
I actually ran some numbers for a past client who was celebrating the fifth year in her condo in Capitola. She purchased it for $289K and in 2005 there were sales for the same size unit at $465K and now sales are around $345K. Being the eternal optimist since she still has equity and with no plans to sell, will eventually see added appreciation as the market returns.
Many great opportunites are available in our market. For those of you wanting to get a little piece of paradise here on the central coast of California, visit my website or view properties available and give me a call toll free at (800) 318-7052. There is no time like the present to cash in on a great value within walking distance to the beach in Santa Cruz, Capitola or Aptos.
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