May 2020 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$932,249
-13.9%
Pending Properties228
+65.2%
Sale/List Price Ratio98.7%
-0.5%
Days of Inventory89
+19.6%
Trends at a Glance
| Trends At a Glance |
May 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$850,000 (-10.5%) |
$949,500 |
$935,000 (-9.1%) |
| Average Price |
$932,249 (-13.9%) |
$1,082,980 |
$1,015,160 (-8.2%) |
| No. of Sales |
89 (-5.3%) |
94 |
146 (-39.0%) |
| Pending |
228 (+65.2%) |
138 |
177 (+28.8%) |
| Active |
265 (+9.5%) |
242 |
418 (-36.6%) |
| Sale vs. List Price |
98.7% (-0.5%) |
99.2% |
99.1% (-0.4%) |
| Days on Market |
37 (+26.7%) |
29 |
35 (+5.6%) |
| Days of Inventory |
89 (+19.6%) |
75 |
86 (+4.0%) |
Market Commentary
As we expected, sales of single-family, re-sale homes tanked in May compared to last year. Home sales were down 39%. There were 89 homes sold in Santa Cruz County last month. The average since 2000 is 157.
Inventory was down for the eighth month in a row. Active listings dropped 36.6% compared to last year.
As of June 5th, there were only 265 homes for sale in Santa Cruz County. The average since January 2003 is 681.
The median sales price for single-family, re-sale homes fell 9.1%, year-over-year. It was down 10.5% compared to April. The average sales price fell 8.2%, year-over-year. It was down 13.9% from April.
The sales price to list price ratio stayed under 100%. It dropped from 99.2% to 98.7%.
Two hundred and twenty-eight homes went into escrow last month, a gain of 28.8% compared to last year.
Days of Inventory rose from seventy-five to eighty-nine. The average since 2003 is one hundred and thirty-nine.
Days on market rose from twenty-nine to thirty-seven. That is the time from when a home is listed to when it goes into contract.
The median sales price for condos fell 3.4% year-over-year. The average sales price fell 4.8%.
Condo sales were down 34.2% year-over-year. Twenty-five condos sold last month.
Inventory was down 5.4%.
As of June 5th, there were 87 condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory rose to one hundred and four from ninety-two.
It took forty-two 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.