November 2018 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$966,749
-10.7%
Pending Properties206
-5.9%
Sale/List Price Ratio98.9%
-0.3%
Days of Inventory71
-14.6%
Trends at a Glance
| Trends At a Glance |
Oct 2018 |
Previous Month |
Year-over-Year |
| Median Price |
$885,000 (-1.7%) |
$900,500 |
$865,000 (+2.3%) |
| Average Price |
$966,749 (-10.7%) |
$1,083,100 |
$955,568 (+1.2%) |
| No. of Sales |
153 (+19.5%) |
128 |
169 (-9.5%) |
| Pending |
206 (-5.9%) |
219 |
255 (-19.2%) |
| Active |
361 (-1.4%) |
366 |
298 (+21.1%) |
| Sale vs. List Price |
98.9% (-0.3%) |
99.1% |
99.8% (-0.9%) |
| Days on Market |
44 (-2.7%) |
45 |
35 (+24.7%) |
| Days of Inventory |
71 (-14.6%) |
83 |
53 (+33.8%) |
Market Commentary
The average sales price for single-family, re-sale homes fell 10.7% from the new high in September. It was up 1.2% year-over-year.
The median sales price fell 1.7% from September, but it was up 2.3% year-over-year.
Sales of single-family, re-sale homes in October rose 19.5% from September, but they were down 9.5%, year-over-year.
There were 153 homes sold. The average number of homes sold monthly since January 2003 is 160.
Inventory was up 21.1% compared to last October. The number of homes for sale as of the fifth of November was 361. The average is 691.
Inventory continues to be problematic. Although inventory has been higher than the year before for the past three months, it is still far below the norm. Since January 2003, Santa Cruz County has averaged 720 days of inventory. Last month it was 361.
The sales price to list price ratio, or what buyers are paying over what sellers are asking, stayed below 100% for the second month in a row: 98.9%.
The time it takes to sell a home, meaning from when homes are listed for sale until they go into contract, dipped one day to 44 days. The average since January 2003 is 64 days.
After hitting a new all-time high in September, the median price for condos slumped 13.5%. It was up 5.9% year-over-year. The average price was up 3.1%.
Condo sales were down 12.5%. There were 35 condos sold last month.
Condos have averaged 224 days of inventory since 2003. Last month it was 92. The number of condos for sale as of the fifth of September was 107. The average is 147.
Condos are averaging sixty-one days on market. The average is sixty-five days.