DEL REY OAKS - New numbers out this month show home sales are up in both Monterey and Santa Cruz counties, but Monterey County is lagging way behind Santa Cruz.
In Monterey County, sales are up by 10 percent from this year compared to last.
But in Santa Cruz County, home sales went up to 52 percent in the same amount of time.
"We're waiting to exhale but we're not exhaling yet," said Sandy Haney, chief executive officer for the Monterey County Association of Realtors.
That's because while home sales in Monterey County are holding steady at about 250 sales a month, there really hasn't been a dramatic change since last year.
"Watching the high end be very active where it wasn't a year or so ago things are loosening up. People are willing to spend money on homes now rather than put it in the stock market or other investments. But inventory is creating a real snag in all of that," Haney said.
Haney said it's a different story in Santa Cruz County where a lot of people who work in the Silicon Valley are choosing to live in Santa Cruz county.
"If you've got a job over there and you can finally get into the market their home prices are a lot more expensive and this is what happened in the boom years. People just start spreading out and they commute. That's why Santa Cruz has taken off," Haney said.
She said Monterey County is just a little too far to go.
She said in Monterey County, there are people wanting to buy, but there aren't enough homes to choose from.
"We need to see the inventory increase, so we can get more of those buyers in homes," Haney said.
And while market is looking up right now, Haney said that could all change.
"If it holds steady, we're fine," she said. "I'd like to think it's the start of coming back. If the economy takes another dip, all bets are off."
The median price in Santa Cruz county is about $200,000 higher than Monterey County.
