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SANTA CRUZ — Signs that the housing market is being nudged to a place more favorable to buyers are showing up in local real estate statistics.

Homes are staying on the market longer, fewer homes are being sold and sellers are no longer receiving a slew of offers higher than the asking price.

And while the median price held steady in September at $470,000, local real estate agents say sellers are making concessions unheard of in the selling frenzy of the last two years. That includes making repairs or renegotiating while in escrow.

"I’m looking forward to a day again when the teachers who teach our children and the firefighters and the police officers and the service workers in our community can buy houses in Santa Cruz," said Tom Brezsny, an agent with Monterey Bay Properties of Capitola.

The median sales price hit a record $530,000 in April.

In September, the average home was on theon the market a year ago and 59 days in September 1999, according to local statistics.

"Now, buyers have an opportunity to think a bit," said Nancy Marquez, an agent with Network Alliance Real Estate in Capitola. "They are taking the time to consider that this is going to be their home, not just something to house themselves in until they sell it."

Marquez predicts conditions will become more favorable to buyers and is advising them to wait if they can. She’s telling sellers to sell now.

"I think the market will be better for buyers in the future," she said.

Typically, when prices are going down, buyers are less comfortable about buying, Brezsny said. That’s because falling prices are often associated with bad news, such as a faltering economy or job layoffs. He advises buyers to determine a comfortable price range, get prequalified and buy when the price is right, instead of waiting for perfect conditions.

The number of sales in September dropped to 142, down from 247 the year before and 277 in September 1999.

"The number of homes selling each month is going to tell you a lot more about what’s going on in the market" than the median price, Marquez said.

The number of homes on the market has stayed steady. If the number of days on the market remains high and the inventory goes up, it will truly be a buyer’s market, Marquez said.

For detailed housing price and inventory statistics, visit www.ror.com or www.creeksiderealty.com.

Contact Mike de Give at mdegive@santa-cruz.com.

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