September 2019 Report
Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >
Average Price$985,534
-9.0%
Pending Properties238
+11.2%
Sale/List Price Ratio98.8%
-0.2%
Days of Inventory75
-14.1%
Trends at a Glance
| Trends At a Glance |
Aug 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$875,000 (-0.9%) |
$883,250 |
$915,000 (-4.4%) |
| Average Price |
$985,534 (-9.0%) |
$1,082,970 |
$992,860 (-0.7%) |
| No. of Sales |
161 (+5.9%) |
152 |
147 (+9.5%) |
| Pending |
238 (+11.2%) |
214 |
189 (+25.9%) |
| Active |
402 (-9.0%) |
442 |
381 (+5.5%) |
| Sale vs. List Price |
98.8% (-0.2%) |
99.0% |
100.4% (-1.6%) |
| Days on Market |
31 (-28.1%) |
44 |
29 (+7.4%) |
| Days of Inventory |
75 (-14.1%) |
87 |
78 (-3.7%) |
Market Commentary
The median sales price for single-family, re-sale homes was down for the third month in a row, year-over-year. It fell 4.4%. It was down 0.9% in August from July. The average sales price fell 9% from July, and it was down 0.7% year-over-year.
The sales price to list price ratio dropped to 98.8% last month.
After being down twelve months in a row, home sales were up 9.5%, year-over-year. There were 161 homes sold in Santa Cruz County last month. The average since 2003 is 158.
Pending sales were also up, year-over-year, for the first time in thirteen months. Two hundred and thirty-eight homes went into escrow last month, a jump of 25.9% compared to last year.
Inventory continues to expand. It has been higher than the year before fourteen months in a row. Last month, it was up 5.5% over last year.
As of September 5th, there were 402 homes for sale in Santa Cruz County. The average since January 2003 is 681.
Days of Inventory was seventy-five. The average since 2003 is one hundred and thirty-nine.
It took only thirty-one days to sell a home last month. That is the time from when a home is listed to when it goes into contract.
Prices for re-sale condos were up last month from the month before. The median sales price rose year-over-year by 9.7%. The average sales price gained 0.2%.
Condo sales were up 44.8% year-over-year.
After thirteen months in a row of increasing inventory, it fell last month by 31.6% compared to last August.
As of September 5th, there were 78 condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory fell to fifty-six.
It took fifty-eight 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.