Real Estate Report presented by Mary Pope-Handy

April 2020 Report

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


Median Price
$972,500
+5.1%
Average Price
$1,127,500
+21.1%
No. Sold
8
-27.3%
Pending Properties
8
-20.0%
Active
13
-7.1%
Sale/List Price Ratio
100.4%
+0.9%
Days on Market
14
-84.2%
Days of Inventory
47
+23.4%

Market Barometer

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Market Commentary

Sales & Inventory Plunge in April

Sales of single-family, re-sale homes tanked in April compared to last year. I think we all expected this amidst the Covid-19 pandemic. Home sales were down 34.7%. There were 94 homes sold in Santa Cruz County last month. The average since 2000 is 157.

We expect home sales to continue dropping for the next two months.

Inventory was down for the seventh month in a row. Active listings dropped 37.8% compared to last year. 

As of May 5th, there were only 242 homes for sale in Santa Cruz County. The average since January 2003 is 681.

The median sales price for single-family, re-sale homes fell 1.9%, year-over-year. It was up 2.6% compared to March. The average sales price fell 3.7%, year-over-year. It was up 10.3% from March.

The sales price to list price ratio went back under 100%. It dropped from 100.8% to 99.2%.

One hundred and thirty-eight homes went into escrow last month, a drop of 5.5% compared to last year.

Days of Inventory rose from sixty-three to seventy-five. The average since 2003 is one hundred and thirty-nine.

Days on market fell from fifty-one to twenty-nine. That is the time from when a home is listed to when it goes into contract.

The median sales price for condos rose 0.6% year-over-year. The average sales price gained 6.6%.

Condo sales were down 47.8% year-over-year. Twenty-four condos sold last month.

Inventory was down 23.2%.

As of May 5th, there were 76 condos for sale in Santa Cruz County. The average since January 2003 is 141.

Days of inventory rose to ninety-two from eighty-six.

It took twenty-six 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.

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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