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March ended up being a surprise to many of us. Santa Cruz proved you can drop prices, negotiate and listings and sales will increase. The opposite is true in both Monterey and Santa Clara counties. Santa Clara County new listings overall dropped 33% and sales dropped 22%. This is not normal for this time of year as spring always brings increases. The only increase was in prices for these two counties. Days on the market dropped significantly across all three counties. The list to sales price ratio only significantly changed in Santa Clara County where it increased 5% over last month. I used to be able to predict the market much better. We are in very changing and interesting times.
(Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS)
As predicted, new listings across all 3 counties improved. Sales did the same although not as high a percentage. The medium price always tells the story and in this case they were up in Santa Cruz and Monterey and down in Santa Clara. A sign of things to come??
Days on the market up as interest rates and inventory continue to hold the market down. Aptos and Scotts Valley drove up the list to sale price in Santa Cruz, while Carmel did the same in Monterey County. In Santa Clara, it seems Cupertino and Los Gatos had the biggest change.
The one number not on this spreadsheet is that the total amount of cash sales in Santa Cruz County 0increased to 44% from 40% in December. Monterey was only 29% all cash and Santa Clara 22%.
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