Real Estate Report presented by Mary Pope-Handy

June 2015 Report

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


Median Price
$885,500
+36.7%
Average Price
$935,167
+28.2%
No. Sold
6
+100.0%
Pending Properties
7
+16.7%
Active
19
0.0%
Sale/List Price Ratio
98.5%
-4.2%
Days on Market
16
-59.0%
Days of Inventory
95
-48.3%

Market Barometer

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Market Commentary

Home Sales Up, Prices Flat

Sales of single-family, re-sale homes rose for the fourth month in a row in May, month-over-month, which is normal for this time of year. Home sales in the county still lag from the year before.

Active listings continue to be anemic, down by double-digits for the tenth month in a row. Pending sales were down double-digits for the ninth straight month.

The median price for homes stayed at $779,000.

The sales price to list price ratio stayed over 100% for the third month in a row.

Days on Market was at 50 last month. The average since January 2003 is 70.

All these statistics point to strong demand, fueled by a lack of inventory.

May Market Statistics

Year-Over-Year

  • Median home prices increased by 13.7% year-over-year to $779,000 from $685,000.
  • The average home sales price rose by 7.5% year-over-year to $867,421 from $806,967.
  • Home sales fell by 17.5% year-over-year to 141 from 171.
  • Total inventory* fell 43.9% year-over-year to 420 from 749.
  • Sales price vs. list price ratio rose by 1.1% year-over-year to 100.5% from 99.4%.
  • The average days on market rose by 4.4% year-over-year to 50 from 48.

Month-Over-Month

  • Median home prices slipped by 0.0% to $779,000 from $779,000.
  • The average home sales price fell by 2.8% to $867,421 from $892,007.
  • Home sales up by 6.0% to 141 from 133.
  • Total inventory* increased 4.0% to 420 from 404.
  • Sales price vs. list price ratio increased by 0.6% to 100.5% from 100.0%.
  • The average days on market increased by 14.4% to 50 from 44.

Condominiums

Year-Over-Year

  • Median condo prices increased by 21.7% year-over-year to $485,000 from $398,500.
  • The average condo sales price rose by 8.2% year-over-year to $498,036 from $460,364.
  • Condo sales rose by 16.3% year-over-year to 50 from 43.
  • Total inventory* rose 16.0% year-over-year to 174 from 150.
  • Sales price vs. list price ratio rose by 1.8% year-over-year to 101.0% from 99.2%.
  • The average days on market fell by 55.7% year-over-year to 23 from 51.

Month-Over-Month

  • Median condo prices improved by 13.1% to $485,000 from $429,000.
  • The average condo sales price fell by 3.6% to $498,036 from $516,677.
  • Condo sales up by 6.4% to 50 from 47.
  • Total inventory* increased 8.8% to 174 from 160.
  • Sales price vs. list price ratio increased by 1.0% to 101.0% from 100.0%.
  • The average days on market dropped by 47.2% to 23 from 43.

* Total inventory is active listings plus contingent or pending listings. Active listings do not include contingent listings.

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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