Santa Cruz County Median Home Price Up Again
The median price for single-family, re-sale homes gained 3.5% in July and is now at its highest since last August. Year-over-year, the median price was off 11.7%
Sales of single-family, re-sale homes were up, year-over-year, by 14.8% in July. Year-to-date, home sales are up 19.3%.
Inventory was down 42.3% from last July. This is the fifteenth month in a row inventory has declined year-over-year.
Days of Inventory rose five days to 122 days. In a balanced market, the supply of homes is usually around five to six months. For condos, the indicator surged 46 days to 186 days.
The sales price to list price ratio fell 0.5 of a point to 97.3%.
Pending sales, a leading indicator, were up 43.3% year-over-year.
Condo sales fell 20% month-over-month, and were off 17.6% compared to last July. Year-to-date, condo sales are up 13.1%.
The median price for condos rose 41% from the month before, and was up 5.4% compared to last July. Don’t read too much into this as the small number of condo sales each month exaggerates the swings.
Condo inventory was down 38.9% compared to July 2008.
Pending sales for condos was up 5.8% year-over-year.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, call me, at 831.246.4663 (or email me at walter@831.com).
For More Information
Please contact me if you'd like more information about our community or real estate market:
Walter Stauss, Lifestyles Real Estate
500 Seabright Avenue, Santa Cruz, California 95062
Cell: 831.246.4663, Email: walter@831.com, Web: http://www.831.com
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