This is Stats with Ash with some good news for your April 2023 Market Update in Santa Cruz: the market is not in the gutter.
Sales prices are stabilizing! We’re averaging 40 days on the market here in Aptos and over the last year, we’ve seen a 30% decrease from the peak in March 2022. Now we’re beginning to see a 1-5% increase in prices month over month – so prices are on the rise!
There has also been a decline in inventory as well – so when you see that dream home, make sure to snap it up!
Lastly, the Fed raised rates (hopefully) for the last time, leading to some stabilization in the market. We’re hoping to see the rates start to decrease again!
There you have it: your April 2023 market update! And remember, no matter what’s happening in the market, we’ve got you covered!
PS. What are the three most important rules in real estate? Location, location, precipitation.
