October 2019 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$948,143
-3.8%
Pending Properties218
-8.4%
Sale/List Price Ratio98.3%
-0.5%
Trends at a Glance
| Trends At a Glance |
Sep 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$795,000 (-9.1%) |
$875,000 |
$900,500 (-11.7%) |
| Average Price |
$948,143 (-3.8%) |
$985,534 |
$1,083,100 (-12.5%) |
| No. of Sales |
150 (-6.8%) |
161 |
128 (+17.2%) |
| Pending |
218 (-8.4%) |
238 |
219 (-0.5%) |
| Active |
417 (+3.7%) |
402 |
366 (+13.9%) |
| Sale vs. List Price |
98.3% (-0.5%) |
98.8% |
99.1% (-0.8%) |
| Days on Market |
49 (+55.8%) |
31 |
45 (+7.3%) |
| Days of Inventory |
81 (+7.6%) |
75 |
83 (-2.8%) |
Market Commentary
The median sales price for single-family, re-sale homes was down for the fourth month in a row, year-over-year. It fell 11.7%. It was down 9.1% in September from August. The average sales price fell 3.8% from August, and, it was down 12.5% year-over-year.
The sales price to list price ratio dropped to 98.3% last month.
Home sales were up 17.2%, year-over-year. There were 150 homes sold in Santa Cruz County last month. The average since 2003 is 158.
Two hundred and eighteen homes went into escrow last month, a drop of 0.5% compared to last year.
Inventory continues to expand. It has been higher than the year before fifteen months in a row. Last month, it was up 13.9% over last year.
As of October 5th, there were 417 homes for sale in Santa Cruz County. The average since January 2003 is 681.
Days of Inventory was eighty-one. The average since 2003 is one hundred and thirty-nine.
Days on market jumped from thirty-one days to forty-nine. That is the time from when a home is listed to when it goes into contract.
Prices for re-sale condos were down last month from the month before. The median sales price fell year-over-year by 3.6%. The average sales price dropped 1.1%.
Condo sales were up 44.8% year-over-year.
Inventory was lower for the second month in a row. It fell last month by 33.9% compared to last September.
As of October 5th, there were 72 condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory fell to fifty-four.
It took forty-four 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.