Santa Cruz County Market Update – February 2022
Below are the Santa Cruz County Market Statistics for the month of February ’22. Here are the highlights:
- Active Inventory continued its upward climb from the all-time low in December ’21.
- The median SFH sales price increased to $1.365M from $1.25M the month prior. February ’22 is up 29.6% from February ’21.
- Number of Sales increased from a subpar January but is down 21.6% from February ’21.
- Days on market decreased from 42 in February ’21 to 24 in February ’22.
If February is any indication, we can expect an acceleration of an already scorching hot Santa Cruz County real estate market. The median home price jumped nearly 10% from January to February ’22. Days on market decreased by 8 while % over list price increased by over 3%. All these metrics indicate a high-demand market. On the supply side, new listings increased substantially from January but fell right in line for average news listings in February (159). We are far off from equilibrium in the market, expect a continuation of disproportionate demand and increasing prices.
If you have any questions or would like to discuss further, please give us a call.