Real Estate Report presented by David Anderson & Marvin Christie

October 2017 Report

Single Family Homes in Santa Cruz County, All Cities, All Neighborhoods Change >


Median Price
$850,000
+3.0%
Average Price
$937,902
-0.3%
No. Sold
171
+1.2%
Pending Properties
231
+4.5%
Active
336
-2.0%
Sale/List Price Ratio
99.5%
+0.2%
Days on Market
42
+8.2%
Days of Inventory
57
-6.4%

Market Barometer

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Market Commentary

Home Prices Pop Again

Prices for single-family, re-sale homes rose by double-digits in September.

That’s the first time since January the median price has been higher than the year before by double-digits.

The median price for homes gained 11.8% over last September. At 850,000, the median price is within shouting distance of the all-time high of $867,525 set in May.

The average price for homes rose 9.6% to $937,902.

The median price for condos gained 5.3%. The average price for condos was up 3.1% over last September.

Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking continues to hover around 100%: 99.5% for homes and 100.3% for condos.

Homes and condos are selling quickly. It is taking only forty-two days from when a home is listed to when it goes into contract. The average since January 2003 is sixty-four days.

Condos are taking thirty-seven days. The average is sixty-five days.

All of this is due to an incredible lack of inventory. Since January 2003, Santa Cruz County has averaged 147 days of inventory. Last month it was fifty-seven. The number of homes for sale as of the fifth of September were 336. The average is 720.

Condos have averaged 224 days since 2003. Last month it was forty-one. The number of condos for sale as of the fifth of September was 59. The average is 147.

To read "Preparing to Sell Your Home? The 5 Best Projects to do Now", click on the Newsletter link to the left.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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