SANTA CRUZ >> Debbie Calhoun, an agent with David Lyng Real Estate, watches for new listings for her buyers. With Tuesday the deadline to get on the Thursday tour for brokers, she expected to see some new homes on the market.

It was not to be.

Checking at 1 p.m. for new listings posted Tuesday in Santa Cruz and Monterey counties, she found only seven, the newest in King City, nothing in Santa Cruz.

“In the past week and a half, I’ve picked up six buyers out looking,” said Calhoun. “12 years, I’ve never had a Christmas like this, because interest rates are going up and people are panicked and there’s nothing to buy.”

Typically, November sees a seasonal slowdown in real estate due to the holidays.

In Santa Cruz County, listings of single-family homes dwindled to 389 as of the first week in December, compared to 420 a year ago and 887 in 2010, according to Gary Gangnes of Real Options Realty, who tracks the numbers.

With 124 listings under contract, only 130 are active, and 49 percent are priced at more than $1 million; those million-dollar listings have comprised about half the listings since March.

November saw more sales, 144 vs. 123 a year ago, and the median sales price — the midpoint of what sold — was $800,750 vs. $700,000 a year ago.

There were 92 condo and town home listings as of the first week in December with 60 active, compared to 76 a year ago, with 50 active. Gangnes has seen this upward trend for last five months.

Calhoun said the newest single-family listing in Santa Cruz County was 4730 Garnet St. in Capitola, a three-bedroom two-bath home with an asking price of $1.2 million posted on Christmas Eve.

Why the unusual timing?

Frank Murphy, an agent with Keller Williams representing the sellers, said the situation involved talking with the adult children who had inherited the home to make sure it was ready for sale.

“There’s quite a bit of interest,” he said, mostly from people coming from over the hill looking for a beach home. “We expect to see multiple offers, and we hope to sell for more than asking.”

Offers will be reviewed Jan. 4.

Some prospective buyers lose interest when they hear others are bidding, but multiple offers are still happening, he said.

Case in point: A 1966 ranch-style home with two bedrooms and one-and-a-half baths at 6495 Graham Hill Road in Felton, a short walk to the Covered Bridge Park.

The seller, who made her home there since the 1970s and was getting on in years, asked $550,000 in November.

The home went into contract for $652,000 just before Christmas.

“We got seven offers,” said Murphy. “We didn’t expect that sort of interest.”

He attributes it to people wanting to buy before interest rates climb higher, as Federal Reserve chief Janet Yellen has signaled, and people wanting to get into a home before the presidential inauguration brings changes.

He said a three-bedroom, one-bath home at 313 California St. in Santa Cruz, a short walk to Santa Cruz High School and listed for $765,000, is attracting a lot of interest from agents representing local buyers.

Since the owner was working on the deck of the 1937 bungalow, Murphy put a sign outside saying “coming soon” before it gets listed on MLSListings.com.

“Today there have been seven showings,” Murphy said at 2 p.m. Tuesday. “One is later today.”

Sales in Santa Cruz for more than $1 million in November included 1615 King St., a 2,032-square-foot home with an artist studio, a 2,174-square foot condo at 152 Frederick St., and a 60-year-old home at 118 Sacramento Ave. within a block of West Cliff Drive.

The Sacramento Avenue home, which was not listed at MLSListings, sold for $843 per square foot, a figure Calhoun called “crazy.”

The highest she’s seen was in the $700 per square foot range.

Square footage does not tell the whole story, she said, adding, “There has to be something else that warrants paying more.”

November 2016 statistics

Single-family homes

Median price: $800,750 ($700,000 a year ago; $689,500 in 2014; $674,444 in 2013; $510,000 in 2012; $410,000 in 2011; $536,000 in 2010; $550,000 in 2009; $433,000 in 2008 and $740,000 in 2007)

Listings: 389 (420 a year ago; 456 in 2014; 533 in 2013; 598 in 2012; 813 in 2011, 887 in 2010)

Sales volume: 144 (123 a year ago; 123 in 2014; 133 in 2013; 171 in 2012; 135 in 2011; 119 in 2010)

Distressed: 2 bank-owned, 1 short sale

Unsold Inventory Index: 2.7 months (3.4 months a year ago)

Average price: $867,293 ($838,988 a year ago)

Condos

Median price: $479,000 ($499,500 a year ago; $422,000 in 2014; $425,000 in 2013; $320,000 in 2012; $232,620 in 2011; $287,700 in 2010; $310,000 in 2009; $297,000 in 2008; and $497,500 in 2007)

Listings: 93 (76 a year ago; 100 in 2014; 136 in 2013; 193 in 2012; 246 in 2011; 248 in 2010)

Sales volume: 47 (30 a year ago; 30 in 2014; 38 in 2013; 43 in 2012; 34 in 2011; 20 in 2010)

Distressed: 0 bank-owned, 0 short sales

Unsold Inventory Index: 2 months (2.5 months a year ago)

Average price: $585,386 ($530,613 a year ago)

Source: Real Options Realty

CLOSE TO THE MEDIAN

City of Santa Cruz

115 Beachview Ave., $760,000

245 Trevethan Ave., $790,000

211 Berkeley Way, $795,000

211 Glover St., $828,000

127 Blaine St., $838,000

County of Santa Cruz

782 Seacliff Drive, $789,000

1760 46th Ave., Capitola, $789,000

421 Seacliff Drive, $790,000

1207 Windward Lane, Capitola, $806,500

145 Redwood Drive, $815,000

7840 Tanias Court, Aptos, $815,000

Lowest

150 Woodland Drive, Ben Lomond, $328,000

11151 Lake Blvd., Lompico, $345,000

715 Heather Court, Watsonville, $375,000

262 Blue Ridge Drive, Boulder Creek, $376,300

505 Joyce Drive, Watsonville, $376,415

Highest

200 Skylark Lane, Corralitos, $1.52M

103 Cutter Drive, Watsonville, $1.525M

212 El Camino Medio St., Capitola, $2.25M

415 Coastview Drive, Live Oak, $2.4M

123 Gharkey St., Santa Cruz, $2.55M

Source: Real Options Realty