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.
Subscribe to my blog or click here to automatically receive monthly market updates and other great information!
If you are planning on selling your property, call me for a free comparative market analysis.
617 total views, 1 views today