Keeping It REAL - by Bettsy Tyler

Santa Cruz County Real Estate Sales - How do things compare to last year? Listings began to climb starting in February last year, a little earlier than usual, and reach almost 400 in April. April through September of last year (2019) there was an average of 350 new listings each month. Sales numbered about 240/month April through September. This year began stronger than last with February recording 340 new listings. Come March, however, new listings dropped to 278 and in April to 236. Sales dropped as well. Though it’s too early yet to see the Covid-19 effect, sales are definitely lower than last year at this time averaging about 160/month for March and April.  Having fewer new listings, it’s only natural to expect fewer sales. Taking a look at Months of Inventory is another way to measure what’s happening. Months of Inventory is a measure of how fast all the existing homes on the market would last assuming a) no more listings are added, and b) the rate...