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Santa Cruz Real Estate Market Update August 2019

Closed & Pending Sales Continue to Fall

Home sales were down, year-over-year in Santa Cruz County, for the twelfth month in a row. There were 141 homes sold in Santa Cruz County last month, a drop of 22.1% compared to last July. The average since 2003 is 158.

Pending sales were also down, year-over-year, for the twelfth month in a row. One hundred and ninety-nine homes went into escrow last month, a drop of 2.6% compared to last July.

The median sales price for single-family, re-sale homes rose 2.8% in July from June. It was down 0.8% from last year. The average sales price rose 2.9% from June, and it was up 13.3% year-over-year.

The sales price to list price ratio was flat at 99.0% last month.

Inventory continues to expand. It has been higher than the year before thirteen months in a row. Last month, it was up 23.1% over last year.

As of August 5th, there were 431 homes for sale in Santa Cruz County. The average since January 2003 is 681.

Days of Inventory was ninety-two. The average since 2003 is one hundred and thirty-nine.

It took only forty-three 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 down last month from the month before. The median sales price dropped year-over-year by 0.9%. The average sales price fell 6.6%.

Condo sales were flat year-over-year.

Inventory continues to expand. It has been higher than the year before thirteen months in a row. It was up 6.1% over last July.

As of August 5th, there were 87 condos for sale in Santa Cruz County. The average since January 2003 is 141.

Days of inventory rose to sixty-nine.

It took twenty-seven 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.

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For the complete annual report, which includes charts and graphs for each city in the county, click on the following link:
http://rereport.com/scc/print/AmberGrewerSZCannual.pdf    

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July Santa Cruz Real Estate Market Update

Closed & Pending Sales Continue to Fall

Home sales were down, year-over-year, for the eleventh month in a row. There were 156 homes sold in Santa Cruz County last month, a drop of 0.6% compared to last June. The average since 2003 is 158.

Pending sales were also down, year-over-year, for the eleventh month in a row. One hundred and ninety-nine homes went into escrow last month, a drop of 15% compared to last June.

The median sales price for single-family, re-sale homes dropped 5.7% in June from May. It was down 6.5% from last year. The average sales price rose 5.1% from May, and it was up 3.6% year-over-year.

The sales price to list price ratio dropped 0.3 of a point to 99.0% last month.

Inventory continues to expand. It has been higher than the year before twelve months in a row. Last month, it was up 32.6% over last year. 

As of July 5th, there were 407 homes for sale in Santa Cruz County. The average since January 2003 is 681.

Days of Inventory was seventy-six. 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 down last month from the month before. The median sales price rose year-over-year by 1.7%. The average sales price fell 6%.

Condo sales were down 28.3% year-over-year. 

Inventory continues to expand. It has been higher than the year before twelve months in a row. It was up 15.1% over last June.

As of July 5th, there were 84 condos for sale in Santa Cruz County. The average since January 2003 is 141.

Days of inventory rose to seventy-four.

It took thirty days, on average, to sell a condo last month.

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If you are planning on selling your property, call me for a free comparative market analysis.

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