Real Estate Report presented by Brandi Jones

July 2018 Report

Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >


Median Price
$925,000
+8.1%
Average Price
$1,015,280
+2.2%
No. Sold
157
-9.2%
Pending Properties
234
+4.0%
Active
307
+9.3%
Sale/List Price Ratio
101.2%
-1.0%
Days on Market
23
+0.7%
Days of Inventory
57
+16.4%

Market Barometer

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Market Commentary

Median Home Price Sets New High

The median sales price for single-family, re-sale homes went over $900,000 for the first time ever. It reached $925,000, an 8.8% increase over last June.

The average sales price was up 5.0% year-over-year.

Sales of single-family, re-sale homes in June were down 19.9%, year-over-year.

There were 157 homes sold. The average number of homes sold monthly since January 2003 is 160.

The median price for condos was up 15.7% year-over-year. The average price was up 19.3% compared to last June.

Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking continues to hover around 100%: 101.2% for homes and 100.1% for condos.

Homes and condos are selling quickly. It is taking only twenty-three days from when a home is listed to when it goes into contract. The average since January 2003 is sixty-four days.

Condos are taking thirty-one days. The average is sixty-five days.

All of this is due to an incredible lack of inventory. Since January 2003, Santa Cruz County has averaged 145 days of inventory. Last month it was fifty-seven. The number of homes for sale as of the fifth of July was 307. The average is 720.

Condos have averaged 224 days of inventory since 2003. Last month it was forty-six. The number of condos for sale as of the fifth of July was seventy-three. The average is 147.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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