December 2018 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$1,017,310
+5.2%
Pending Properties172
-16.5%
Sale/List Price Ratio98.5%
-0.4%
Trends at a Glance
| Trends At a Glance |
Nov 2018 |
Previous Month |
Year-over-Year |
| Median Price |
$850,000 (-4.0%) |
$885,000 |
$850,000 (0.0%) |
| Average Price |
$1,017,310 (+5.2%) |
$966,749 |
$975,193 (+4.3%) |
| No. of Sales |
133 (-13.1%) |
153 |
181 (-26.5%) |
| Pending |
172 (-16.5%) |
206 |
206 (-16.5%) |
| Active |
320 (-11.4%) |
361 |
236 (+35.6%) |
| Sale vs. List Price |
98.5% (-0.4%) |
98.9% |
99.5% (-1.0%) |
| Days on Market |
51 (+15.0%) |
44 |
42 (+19.7%) |
| Days of Inventory |
70 (-1.4%) |
71 |
38 (+84.5%) |
Market Commentary
The real estate market in Santa Cruz County continues to soften. The sales price to list price ratio is at its lowest level since February 2017: 98.5%.
The average sales price for single-family, re-sale homes was up 4.3% year-over-year.
The median sales price was down 5.2% from October. It was flat year-over-year.
Sales of single-family, re-sale homes in November fell 13.1% from October, and, they were down 26.5%, year-over-year.
There were 133 homes sold. The average number of homes sold monthly since January 2003 is 160.
Inventory was up 36.6% compared to last November. The number of homes for sale as of the fifth of December was 320. The average is 691.
Inventory continues to be problematic. Although inventory has been higher than the year before for the past five months, it is still far below the norm. Since January 2003, Santa Cruz County has averaged 720 days of inventory. Last month it was 320.
The sales price to list price ratio, or what buyers are paying over what sellers are asking, stayed below 100% for the third month in a row.
The time it takes to sell a home, meaning from when homes are listed for sale until they go into contract, rose seven day to 51 days. The average since January 2003 is 64 days.
The median price for condos was up 8.1% year-over-year. The average price was up 2.9%.
Condo sales were down 2.9%. There were 34 condos sold last month.
Condos have averaged 224 days of inventory since 2003. Last month it was 85. The number of condos for sale as of the fifth of December was 100. The average is 147.
Condos are averaging forty-nine days on market. The average is sixty-five days.