October 2020 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$1,212,020
-0.4%
Pending Properties218
-8.0%
Sale/List Price Ratio101.9%
+0.8%
Days of Inventory33
+21.5%
Trends at a Glance
| Trends At a Glance |
Oct 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,060,000 (+0.4%) |
$1,055,500 |
$872,950 (+21.4%) |
| Average Price |
$1,212,020 (-0.4%) |
$1,217,040 |
$986,686 (+22.8%) |
| No. of Sales |
179 (-7.7%) |
194 |
140 (+27.9%) |
| Pending |
218 (-8.0%) |
237 |
170 (+28.2%) |
| Active |
195 (+8.3%) |
180 |
447 (-56.4%) |
| Sale vs. List Price |
101.9% (+0.8%) |
101.1% |
98.0% (+4.0%) |
| Days on Market |
34 (-25.2%) |
45 |
56 (-39.1%) |
| Days of Inventory |
33 (+21.5%) |
27 |
96 (-65.9%) |
Market Commentary
The median sales price for single-family, re-sale homes rose 21.4%, year-over-year, to set a new high for the fourth month in a row at $1,060,000. It was up 0.4% compared to September. A rising median sales price indicates that more homes at the upper end are selling .
The average sales price rose 22.8%, year-over-year.
Home sales jumped 27.9% year-over-year. Sales were down 7.7% compared to September. There were 179 homes sold in Santa Cruz County last month. The average since 2000 is 157.
Year-to-date, home sales are up 3.6%.
Inventory was down for the thirteenth month in a row. Active listings dropped 55.9% compared to last year.
As of November 5th, there were only 195 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 third month in a row. It rose from 101% to 101.9%.
Two hundred and eighteen homes went into escrow last month, a gain of 25.3% compared to last year.
Days of Inventory rose from twenty-six to thirty-three. The average since 2003 is one hundred and thirty-nine.
Days on market fell from forty-five to thirty-four. That is the time from when a home is listed to when it goes into contract.
The median sales price for condos, after setting a new high in September, slumped 10.2% year-over-year. The average sales price fell 10.4%.
Condo sales rose 13.6% year-over-year. Fifty condos were sold last month.
Inventory was down 29.5%.
As of November 5th, there were 67 condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory rose to forty from thirty-four.
It took thirty-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.