Market Trends

The Real Estate Report

Local market trends for Santa Cruz County

Home Sales Continue to Fall, Prices Rise

Sales of single-family, re-sale homes were down for the fourteenth month in a row, year-over-year. They fell 35.7% compared to last October.   There were 101 homes sold in Santa Cruz County last month. The average since 2000 is 157.

The median sales price for single-family, re-sale homes was up 18.9% year-over-year last month. It rose 10.8% in October from September.

The average sales price rose 14.4%, year-over-year.

After being down twenty-eight months in a row, inventory was up for the eighth month in a row. It gained 93.7% compared to last October.

As of November 5th, there were 244 homes for sale in Santa Cruz County. The average since January 2003 is 681.

The sales price to list price ratio dipped below 100% for the first time in twenty-seven months. It went from 100% to 99.6%.

One hundred and fifty-nine homes went into escrow last month, a drop of 32.9% compared to last year.

Days of Inventory rose from fifty-six to seventy-two. The average since 2003 is one hundred and thirty-nine.

Days on market rose from thirty-one to thirty-four. That is the time from when a home is listed to when it goes into contract.

The median sales price for condos rose 17.1% year-over-year. The average sales price rose 12.9%.

Condo sales were down 47.5% year-over-year. Twenty-one condos were sold last month.

Inventory was up 73.7%.

As of November 5th, there were thirty-three condos for sale in Santa Cruz County. The average since January 2003 is 141.

Days of inventory rose from twenty-three to forty-seven.

It took thirty-eight 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. 

September 2022 Sales and Price

Trends At A Glance

SALES YEAR TO DATE

SINGLE FAMILY HOMES

Oct 22 Sept 22 Oct 21
Median Price: $1,349,000 $1,217,500 $1,135,000
Average Price: $1,449,080 $1,451,820 $1,266,710
Units Sold 101 128 157
Pending Sales 159 163 237
Active Listings 244 249 126
Sale/List Price Ratio 99.6% 100% 104.1%
Days on Market 34 31 23
Days of Inventory: 72 56 24

Condominiums

Oct 22 Sept 22 Oct 21
Median Price: $810,000 $900,000 $692,000
Average Price: $899,786 $887,308 $797,188
Units Sold 21 39 40
Pending Sales 32 37 48
Active Listings 33 31 19
Sale/List Price Ratio 99.9% 100.7% 103.8%
Days on Market 38 21 30
Days of Inventory: 47 23 14