Real Estate Report presented by Christine Schneider - Broker

September 2017 Report

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


Median Price
$825,000
+2.0%
Average Price
$940,879
+2.6%
No. Sold
169
+23.4%
Pending Properties
221
+5.2%
Active
343
+0.9%
Sale/List Price Ratio
99.3%
-0.8%
Days on Market
39
+11.4%
Days of Inventory
61
-18.2%

Market Barometer

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Market Commentary

Home Prices Up, Sales Down

The median price of single-family, re-sale homes eked out a 1.2% gain in August, year-over-year. The median price was also up 2% over July.

The average price for homes, on the other hand, fell 0.9% year-over-year, while rising 2.6% from July.

Condominium prices were much more robust. The median price gained 10.2% year-over-year, while the average price rose 7.1%.

Meanwhile, home sales jumped 23.4% from July, but were down 12% from last August. At 169 units sold, sales were just above the average for the past fourteen years of 160 home sales per month.

Condo sales had a stellar month in August. Sales were up 74.3% over July and up 35.6% year-over-year. Sixty-one units were sold compared to the fourteen-year average of thirty-six sales per month.

The sales price to list price ratio, or what buyers are paying compared to what sellers are asking, continues to hover around the 100% mark.

The ratio for homes was 99.3%, and the ratio for condominiums was 99.7%.

Property is selling quickly. It is taking only thirty-nine days from when a home comes on the market to when it goes under contract. The average for the past fourteen years is sixty-four days.

For condominiums, it took thirty-five days from listing to contract. The average is sixty-five days.

Inventory, or the lack thereof, continues to be the biggest factor in the Santa Cruz market, as it is throughout the Bay Area.

There are only sixty-one days of home inventory. The average is one-hundred and forty-seven.

For condominiums, there are thirty-eight days compared to an average of two-hundred and twenty-five.

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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