May 2022 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$1,440,350
-8.4%
Pending Properties192
-5.0%
Sale/List Price Ratio108.6%
-1.6%
Days of Inventory43
+60.3%
Trends at a Glance
| Trends At a Glance |
May 2022 |
Previous Month |
Year-over-Year |
| Median Price |
$1,295,000 (-8.2%) |
$1,410,000 |
$1,297,500 (-0.2%) |
| Average Price |
$1,440,350 (-8.4%) |
$1,572,630 |
$1,347,760 (+6.9%) |
| No. of Sales |
150 (-10.2%) |
167 |
192 (-21.9%) |
| Pending |
192 (-5.0%) |
202 |
231 (-16.9%) |
| Active |
213 (+39.2%) |
153 |
212 (+0.5%) |
| Sale vs. List Price |
108.6% (-1.6%) |
110.4% |
107.6% (+1.0%) |
| Days on Market |
14 (-4.5%) |
15 |
23 (-37.2%) |
| Days of Inventory |
43 (+60.3%) |
27 |
33 (+28.6%) |
Market Commentary
The median sales price for single-family, re-sale homes was down 0.4% year-over-year last month. That breaks a string of twenty-three months in a row the median sales price has been higher than the year before.
The average sales price rose 6.8%, year-over-year.
Sales of single-family, re-sale homes were down for the ninth month in a row, year-over-year. They fell 21.5% compared to last May. There were 150 homes sold in Santa Cruz County last month. The average since 2000 is 157.
After being down twenty-eight months in a row, inventory was up for the third month in a row. It gained 21.7% compared to last May.
As of June 5th, there were 213 homes for sale in Santa Cruz County. The average since January 2003 is 681.
The sales price to list price ratio stayed over 100% for the twenty-second month in a row. It went from 110.4% to 108.6%.
One hundred and ninety-two homes went into escrow last month, a drop of 24.1% compared to last year.
Days of Inventory rose from twenty-seven to forty-three. The average since 2003 is one hundred and thirty-nine.
Days on market fell from fifteen to fourteen. That is the time from when a home is listed to when it goes into contract.
The median sales price for condos rose 4.2% year-over-year. The average sales price rose 2.4%.
Condo sales were down 35.7% year-over-year. Twenty-seven condos were sold last month.
Inventory was up 41.7%.
As of June 5th, there were thirty-four condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory rose from seventeen to thirty-eight.
It took seven days, on average, to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.