June 2023

- Tom Brezsny

More Surprises in Store

June 26, 2023Continuing the conversation… looking at sales data for 2023 and noting that prices have remained surprisingly high (much higher than expected given doom/gloom projections and rumors circulating about the market’s demise.)   In spite of all the negative news, the median and average prices for single family residences (SFR) in SC County in May were $1,373,750 and $1,633,599 respectively. Those are amazing numbers even for a market that’s consistently offered up the unexpected since the start of the pandemic.  Even more surprising is the fact that...

- Tom Brezsny

Mixed Messages

June 23, 2023Continuing the conversation…looking at the first five months of sales data for Santa Cruz County and trying to make sense out of the mixed messages the market is sending. If you’re interested in taking a deeper dive into local market trends, I recommend Dax’s Data, a blog that tracks and analyzes all things real estate-related in Santa Cruz. https://bit.ly/daxsdata Now, on to those mixed messages: Isn’t the market making a surprisingly strong showing so far in 2023? Or, is it tanking like so many people...

- Tom Brezsny

Resuming The Conversation

June 5, 2023Resuming the conversation... about a market that had managed to defy the odds, rewrite the rules, break all the records and steamroll over any/all previously held beliefs for more than ten years... until last May, when things suddenly began to change. That’s when cracks began to appear in a market that had once seemed invulnerable. Bottom line: Here a year later, in May of 2023, we’re still in the early stages of a much larger market shift, one that was long overdue. If you want...

- Dax Nollenberger

Dax’s Data: How Shockingly Low Supply Will Impact Real Estate Prices

June 1, 2023“The real estate market is going to crash.” If you keep up with US housing, you have probably thought this or heard this within the last 12 months. You’re not alone, the Google searches for the phrase “real estate market crash” exploded to its highest total in Google Trends history in September 2022 (and has seen 5 abnormally large spikes since the start of 2022). It’s not surprising this rhetoric is out there as we have seen stubbornly high inflation numbers, seemingly ever-rising mortgage rates,...