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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