September 2020 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$1,217,040
-0.8%
Pending Properties237
+0.4%
Sale/List Price Ratio101.1%
+0.8%
Days of Inventory27
-37.3%
Trends at a Glance
| Trends At a Glance |
Sep 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,055,500 (+0.5%) |
$1,050,000 |
$795,000 (+32.8%) |
| Average Price |
$1,217,040 (-0.8%) |
$1,226,880 |
$943,212 (+29.0%) |
| No. of Sales |
194 (+26.8%) |
153 |
153 (+26.8%) |
| Pending |
237 (+0.4%) |
236 |
155 (+52.9%) |
| Active |
180 (-17.8%) |
219 |
506 (-64.4%) |
| Sale vs. List Price |
101.1% (+0.8%) |
100.3% |
98.2% (+3.0%) |
| Days on Market |
45 (+18.2%) |
38 |
49 (-8.5%) |
| Days of Inventory |
27 (-37.3%) |
43 |
96 (-71.9%) |
Market Commentary
The median sales price for single-family, re-sale homes rose 32.8%, year-over-year, to set a new high for the third month in a row at $1,055,500. It was up 0.5% compared to August. A rising median sales price indicates that homes at the upper end are selling more.
The average sales price rose 29%, year-over-year.
Home sales jumped 26.8% year-over-year. Sales were up 33.8% compared to August. There were 194 homes sold in Santa Cruz County last month. The average since 2000 is 157.
Year-to-date, home sales are up 0.8%.
Inventory was down for the twelfth month in a row. Active listings dropped 64.9% compared to last year.
As of October 5th, there were only 176 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 second month in a row. It rose from 100.3% to 101%.
Two hundred and thirty-nine homes went into escrow last month, a gain of 51.3% compared to last year.
Days of Inventory fell from forty to twenty-six. The average since 2003 is one hundred and thirty-nine.
Days on market rose from thirty-nine to forty-five. That is the time from when a home is listed to when it goes into contract.
The median sales price for condos also set a new high last month, rising 18.5% year-over-year. The average sales price gained 21% and also set a new high.
Condo sales surged 44.7% year-over-year. Fifty-five condos were sold last month.
Inventory was down 27.3%.
As of October 5th, there were 64 condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory fell to thirty-four from forty-seven.
It took fifty-six 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.