Santa Cruz County : Median Home Price $500,000 in February

By JONDI GUMZ Posted: 03/18/2010 08:13:20 AM PDT Santa Cruz Sentinel : View Full Story SANTA CRUZ -- The median sales price for a single-family home in Santa Cruz County in February was $500,000, up from $380,000 a year ago, when the market bottomed out, but down from the boom level of $682,500 two years ago. The median is the midpoint of what sold in the month. Gary Gangnes of Real Options Realty tallied 93 sales, about the same as a year ago, with 48 percent involving "distressed" property, either bank-owned or a "short sale," in which the lender accepts less than what is owed.