The real estate market in Santa Cruz has had vast devaluation in homes and condos. Even with the bad news they are finding a slight increase at the end of 2009. The single-family homes inventory began to thin out with only 631 homes on the market in December of 2009.
The city of Santa Cruz saw the most sales of any town in Santa Cruz County for the year. With most of the sales in the Seacliff neighborhood. Most of the inventory left on the market now is in the San Lorenzo Valley area, and Santa Cruz proper areas.
When looking around the other areas, I found 50 homes in the Belmont area. All are from 5000 sq. ft to 7000 sq. ft and priced well with in the range of others. All area are having the same problem of valuation and selling.
In the Los Gatos Mountain area one real estate company has 38 properties in the area for sale. Another has 22 properties for sale in the area. The prices are all competitive.
Banking is also a factor in getting the homes sold.
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