Keeping you up to date with Santa Cruz Real Estate

(Brokered by David Lyng)

Weekly Market Update

• The hottest zip codes in the county in terms of the Market Action Index (ratio of inventory/homes selling) are Ben Lomond with an Index of 55 and a median list price $995,000 and Felton with an index of 53 and a median list price of $787,000.
• 32 properties sold in the county this week with an average sale price of $1,540,581.
• There are 433 active for sale properties on the market here in Santa Cruz County (down from last week at 439).
• There were no major surprises in the economic data released this week. Investors were focused on the latest inflation report, and it came in right in line with expectations. As a result, mortgage rates ended the week with little change.
• In the housing sector, high mortgage rates in May again were an obstacle to purchasing activity. Sales of new homes in May unexpectedly dropped 11% from April to the lowest level since November and were 17% lower than a year ago. The median new-home price of $417,400 was slightly lower than last year at this time. There were 481,000 new homes on the market at the end of May, the highest level since January 2008.

Market Matters

Boat and Bait Shop Makes Return to Capitola Wharf with Temporary Structures

Roughly three months after its building was demolished because of storm damage, the Boat and Bait Shop and the city of Capitola have struck a deal to bring the longtime wharf business back once the local landmark reopens. The Capitola City Council unanimously agreed at its meeting Thursday to enter into a short-term lease agreement with Boat and Bait so it can bring back some of its offerings using temporary structures. The agreement comes amid a hope from Capitola officials that the wharf itself will reopen to the public sometime in July on a rolling basis, meaning it may shut down temporarily to allow for some final installations. Capitola Assistant City Manager Chloé Woodmansee told the Sentinel on Friday that the city will host a grand opening celebration for the wharf Sept. 25. “I really think that the community is going to benefit and be really excited when the project is finished and we can all see it in its glory,” said Councilmember Margaux Morgan. “So thanks so much everybody.” The city will spend $32,000 to make the pop-up shop happen, including placement of two temporary, slate gray steel structures hollowed out like empty garages and set down close to the head of the wharf where Boat and Bait was before it was torn down in March. Each structure will be 20 feet long and 10 feet wide and will be complemented by two storage sheds and a permanent fuel shed.

Santa Cruz Sentinel June 14, 2024

Santa Cruz Area Named Most Expensive Rental Market in Nation. Again.

For the second year in a row, a housing report has ranked Santa Cruz as the most expensive metropolitan county in the nation for renters. According to the annual National Low Income Housing Coalition’s “Out of Reach” report, released Thursday, a worker living in the Santa Cruz-Watsonville metropolitan district would need to earn an hourly wage of $77.96 to afford a two- bedroom rental at a fair market rate. Put another way, a local renter earning the state’s minimum wage at $16 per hour would need to work 4.9 full-time jobs to afford a two-bedroom unit within the region’s fair market rate of $4,054 per month, according to the report. “This news, while disheartening, is not a surprise,” Elaine Johnson, executive director of Housing Santa Cruz County, said in a release in response to the report. “The numbers in these reports demonstrate why we must continue to prioritize housing solutions to make progress for our communities.”

Santa Cruz Sentinel June 27, 2024

Local Market Data

ALTOS Research Market Report

ALTOS RESEARCH MARKET REPORT IS AN INTERACTIVE, REAL-TIME REPORT. IT DISPLAYS THE CURRENT ACTIVITY FOR ANY MARKET YOU WISH.

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US Market Summary

Collins Properties Listings

4930 Cliff Drive, Capitola

This luxurious oceanfront property in the heart of Capitola is the most affordable oceanfront single family home in Santa Cruz County! This one-of-a kind home is one of only four single family homes located oceanside above the wharf and at the perfect angle to give you panoramic views of the entire Monterey Bay. On clear days you can even see all the way to the point at Big Sur. Spectacular views and easy access to the best parts of Capitola are just a few features that make this home so amazing. Add to that meticulous maintenance, tasteful renovations, and a layout that really maximizes the view and you have a home that is truly a masterpiece.

Open House Sunday June 29, 1-4PM 

3 Bedrooms, 2 Bathrooms, 1,288sqft

Listed at $3,999,000

1460 Lockhart Gulch Rd, Scotts Valley

This 1 bedroom home is 730 sqft with a 300 sqft additional dwelling unit that includes a full bath and kitchenette. This home is well maintained and updated with hardwood floors, granite countertops, high ceilings, and two fireplaces. Outside is a partial wrap around deck with a hot tub. It also includes a 24 hour backup battery in case of power outages. It's vicinity near Mission Springs in Scotts Valley puts you in a great commuting location to Silicon Valley

1 Bedrooms, 1 Bathrooms, 730sqft w/ 300sqft ADU

Listing at $810,000

Events in Santa Cruz This Weekend

Here Comes the Sun

2 days of live music, over 85 vendors, wine, cider and food! Free admission and free parking as well. Enjoy activities for the whole family, and a beautiful day in the Santa Cruz mountains! 11am to 5pm on both days.

Saturday, June 29 & 30, 2024 at 11:00 AM-5PM

Hallcrest Vineyards, Felton, CA 95018