Santa Cruz Condos - Market Overview August 2010 The best that can be said about last year is its over! Condo sales were up 12.8% from 2008.The median price dropped 16% from 2008. The good news in all this is that prices bottomed out in the first quarter and started strengthening the last nine months of the year. The year ended with inventory at its lowest level since March 2005, a sign that prices should keep firming.Another positive indicator, as we start the New Year, is Days of Inventory, which is how long it would take to sell all the homes on the market at the current rate of sales, which ended the year at 97 days. We have to go back to the boom years of 2004 and 2005 to see numbers that low.Buyers are out there, but they're looking for bargains. Which begs the question, what is...
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