August 2020 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$1,218,430
+7.4%
Pending Properties252
+2.9%
Sale/List Price Ratio100.3%
+0.4%
Days of Inventory40
+32.6%
Trends at a Glance
| Trends At a Glance |
Aug 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,050,000 (+4.9%) |
$1,000,500 |
$875,000 (+20.0%) |
| Average Price |
$1,218,430 (+7.4%) |
$1,134,030 |
$987,177 (+23.4%) |
| No. of Sales |
145 (-33.5%) |
218 |
164 (-11.6%) |
| Pending |
252 (+2.9%) |
245 |
178 (+41.6%) |
| Active |
194 (-11.8%) |
220 |
492 (-60.6%) |
| Sale vs. List Price |
100.3% (+0.4%) |
99.9% |
98.8% (+1.5%) |
| Days on Market |
39 (+19.3%) |
32 |
31 (+23.8%) |
| Days of Inventory |
40 (+32.6%) |
30 |
90 (-55.4%) |
Market Commentary
The median sales price for single-family, re-sale homes rose 20%, year-over-year to set a new high for the second month in a row of $1,050,000. It was up 4.9% compared to July. The average sales price rose 23.4%, year-over-year. It also was a new high.
Home sales were down 11.6% year-over-year. Sales were down 33.5% compared to July. There were 145 homes sold in Santa Cruz County last month. The average since 2000 is 157.
Year-to-date, home sales are down 3%
Inventory was down for the eleventh month in a row. Active listings dropped 60.6% compared to last year.
As of September 5th, there were only 194 homes for sale in Santa Cruz County. The average since January 2003 is 681.
The sales price to list price ratio went back over 100%. It rose from 99.9% to 100.3%.
Two hundred and fifty-two homes went into escrow last month, a gain of 41.6% compared to last year.
Days of Inventory rose from thirty to forty. The average since 2003 is one hundred and thirty-nine.
Days on market rose from thirty-two to thirty-nine. That is the time from when a home is listed to when it goes into contract.
The median sales price for condos rose 8.8% year-over-year to reach a new high. The average sales price gained 10.3% and also set a new high.
Condo sales were up 2.4% year-over-year. Forty-three condos sold last month.
Inventory was down 27.2%.
As of September 5th, there were 67 condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory rose to forty-seven from forty-one.
It took sixty-one 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.