The median sales price for single-family, re-sale homes rose 52.9% year-over-year last month to set a new high for the second month in a row. That is the twelfth month in a row the median sales price has been higher than the year before.
The average sales price also set a new high for the second month in a row. It rose 44.7%, year-over-year.
Home sales were up 114.6% year-over-year. There were 191 homes sold in Santa Cruz County last month. The average since 2000 is 157.
Inventory was down for the twentieth month in a row. Active listings dropped 34% compared to last year.
As of June 5th, there were only 175 homes for sale in Santa Cruz County. The average since January 2003 is 681.
The sales price to list price ratio stayed over 100% for the tenth month in a row. It went from 107.7% to 107.5%.
Two hundred and fifty-three homes went into escrow last month, a gain of 11% compared to last year.
Days of Inventory rose from twenty to twenty-seven. The average since 2003 is one hundred and thirty-nine.
Days on market rose from eighteen to twenty-three. That is the time from when a home is listed to when it goes into contract.
The median sales price for condos set a new high. It rose 32.6% year-over-year. The average sales price also set a new high. It rose 45.5%.
Condo sales were up 68% year-over-year. Forty-two condos were sold last month.
Inventory was down 72.4%.
As of June 5th, there were twenty-four condos for sale in Santa Cruz County. The average since January 2003 is 141.
Days of inventory fell to seventeen from eighteen.
It took fifteen 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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