February 2019 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$884,721
-19.5%
Pending Properties110
-8.3%
Sale/List Price Ratio98.4%
+1.4%
Days of Inventory98
+47.5%
Trends at a Glance
| Trends At a Glance |
Jan 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$820,645 (-9.7%) |
$908,750 |
$780,000 (+5.2%) |
| Average Price |
$884,721 (-19.5%) |
$1,099,200 |
$858,736 (+3.0%) |
| No. of Sales |
65 (-39.8%) |
108 |
109 (-40.4%) |
| Pending |
110 (-8.3%) |
120 |
134 (-17.9%) |
| Active |
213 (-11.3%) |
240 |
160 (+33.1%) |
| Sale vs. List Price |
98.4% (+1.4%) |
97.0% |
99.1% (-0.8%) |
| Days on Market |
50 (-2.2%) |
51 |
57 (-12.5%) |
| Days of Inventory |
98 (+47.5%) |
67 |
44 (+123.2%) |
Market Commentary
Sales of single-family, re-sale homes plunged 40.4% compared to last January. They were down 39.8% from December.
There were 65 homes sold. The average number of homes sold monthly since January 2003 is 160.
After setting a new record high in December, the average sales price for single-family, re-sale homes dropped 19.5% in January from the month before. Year-over-year, it was up 3%.
The median sales price dropped 9.7% from December. It was up 5.2% year-over-year.
Inventory was up 33.1% compared to last January. The number of homes for sale as of the fifth of February was 213. The average is 691.
Inventory continues to be problematic. Although inventory has been higher than the year before for the past seven months, it is still far below the norm. Since January 2003, Santa Cruz County has averaged 140 days of inventory. Last month it was 98.
The time it takes to sell a home, meaning from when homes are listed for sale until they go into contract, dropped one day to 50 days. The average since January 2003 is 64 days.
The median price for condos was down 5.6% year-over-year. The average price was up 10.1%.
Condo sales were down 26.7%. There were 22 condos sold last month.
Condos have averaged 224 days of inventory since 2003. Last month it was 91. The number of condos for sale as of the fifth of February was 67. The average is 147.
Condos took forty-three days to sell in January. The average is sixty-five days.