Kaelin Wagnermarsh

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Monthly Market Update

Kaelin Wagnermarsh ,March 10, 2021

CURRENT INTEREST RATES AS OF March 9, 2021

Interest rates are subject to change daily. Current interest rates shown are indicative of market conditions. Individual rates may vary upon borrower’s qualification and loan terms. Source: wellsfargo.com

Last month’s numbers are in and the median home sale price (single family residential detached) for all of Santa Cruz County per the MLS ( multiple listing service) for February was $1,058,000, down slightly from January . The Condo/Townhome median sale price was $625,000, also down from January . Homes on average were selling 102.2% of the listed price(compared to 100.6% of the “original listed price”) and the median days to receive an accepted offer for the county was 12 days . The real estate inventory was 1.3 months for the county, still incredibly low.

I've put together some graphics to illustrate comparisons. I've broken down the last 4 weeks, and then highlighted the last week. So, let's compare what's been going on in real estate over the past several weeks. Have there been changes since the COVID-19 outbreak? If so, what does that look like? The things to look out for would be drastic changes in price reductions, transactions falling through, and removed listings. What do you notice?

For reference: "TFT" means "transaction fallen through" or canceled escrow. "C/W/E" translates to Canceled, Withdrawn or Expired listings, meaning removed from the market.