Real Estate Report presented by Pam Blackman

January 2018 Report

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


Median Price
$825,000
-2.9%
Average Price
$934,691
-4.2%
No. Sold
161
-11.0%
Pending Properties
146
-29.1%
Active
175
-25.8%
Sale/List Price Ratio
99.1%
-0.5%
Days on Market
42
-1.7%
Days of Inventory
33
-13.8%

Market Barometer

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Market Commentary

Home Sales Strong to End the Year

Sales of single-family, re-sale homes in December were up by double-digits, year-over-year, for the third month in a row.

Home sales were up 32.0% year-over-year. There were 161 homes sold. The average number of homes sold in a month since January 2003 is 160.

The median price for homes gained 5.8% over last December to $825,000. The average price for homes rose 10.6% to $934,691. Both prices were down compared to November.

The median price for condos rose 20.3%. The average price for condos was up 6.9% over last December.

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%: 99.1% for homes and 99.5% for condos.

Homes and condos are selling quickly. It is taking only forty-two 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 forty 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 147 days of inventory. Last month it was thirty-three. The number of homes for sale as of the fifth of December was 175. The average is 720.

Condos have averaged 224 days since 2003. Last month it was thirty-six. The number of condos for sale as of the fifth of December was forty. 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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