Marcellina Catalano
Marcellina Catalano
Realtor® serving Santa Cruz County and surrounding areas.
 

Santa Cruz County Market Update

 

December 2017

*posted 1/12/18


 

Single Family Homes:

Median Sales Price: $831,000
Home Inventory: 1.2 months
Average Days on Market: 46
Sales to List Price Ratio: 98.9%
 

Number of Active Listings, Pending Sales, and Closed Properties

Data from December 2017

The market in Santa Cruz County ended the year strong.  Though a decline from November, the median price increased 3% over December 2016.  The market in Santa Cruz county seemed to even out a bit in August. Though there is a slight increase in median price month over month, the numbers are almost even with the same month last year. Both Capitola and Soquel are the stars this month, with median prices over $1.2M, which was an increase over the previous year of 48% and 29% respectively.

On average, homes are selling slightly below the list price, though there are still homes selling in multiple offers and over asking price. Scotts Valley has the lowest home inventory at only .5 months - that means there are only enough active homes on the market to last for 2 weeks of sales!

The county had only 210 homes active on the market - which is the lowest number on record! Despite active listings decreasing, sales increased by 31% over the same month last year!  Thus demand remains strong and there is just not enough homes on the market.

 

 

Average Days on Market & Sales to List Price Ratio

Median Sales Price

 

 

Condos/ Townhouses:

Median Sales Price: $607,500
Home Inventory: 1.2 months
Average Days on Market: 38
Sales to List Price Ratio: 99.4%

Condos/ townhouses ended the year with a bang.  The median price increased 20% year over year and came close to the record high set in April 2017. Properties are selling slightly below the list price on average.

Home inventory is only at 1.2 months.  Active listings decreased by almost 29%, while sales declined by 8% year over year.  

 

 

Luxury Market:

$1.2M - $1.8M
Home Inventory: 2.0 months
Average Days on Market: 66
Sales to List Price Ratio: 96.4%

$1.8M - $2.5M
Home Inventory: 2.7 months
Average Days on Market: 78
Sales to List Price Ratio: 98.3%

$2M+
Home Inventory: 4.3 months
Average Days on Market: 83
Sales to List Price Ratio: 95.1%
 

 

 

The $1.2M- $1.8M category remains steady. Though homes are selling 3.6% below the list price on average in about 2 months on market. Of the 49 active homes on the market, there were 25 sales, which is a slight increase over last year.   4 of these sales were cash transactions

 

The $1.8-$2.5M category ended the year very strong.  Homes sold close to the list price at just 1.7% below asking. December 2016 only had 1 sale in this category, while this year there were 6 sales.  Only 2 of the sales were cash purchases.



The $2.5M+ category had strong performance as well. Of the 6 sales, half were cash transactions. With 26 active homes on the market, inventory is down to only 4.5 months - the lowest on record!

 

 

Stats by City

 

 

Santa Cruz City:

Single Family Homes
Median Sales Price: $982,495
Home Inventory: 1.6 months
Average Days on Market: 30
Sales to List Price Ratio: 101.3%

Capitola:

Single Family Homes
Median Sales Price: $1,297,500
Home Inventory: 1.3 months
Average Days on Market: 55
Sales to List Price Ratio: 100.3%

Soquel:

Single Family Homes
Median Sales Price: $1,216,000
Home Inventory: 3.3 months
Average Days on Market: 95
Sales to List Price Ratio: 97.8%

 
 

Aptos:

Single Family Homes
Median Sales Price: $881,500
Home Inventory: 1.2 months
Average Days on Market: 47
Sales to List Price Ratio: 98.5%

Scotts Valley:

Single Family Homes
Median Sales Price: $900,000
Home Inventory: 0.5 months
Average Days on Market: 49
Sales to List Price Ratio: 97.0%