The median price for single-family, re-sale homes gained 6.2% in November from October. For the third month in a row, the median price was up year-over-year: 25.9%.
Sales of single-family, re-sale homes were down 18% from October, but were up 43.9% year-over-year. Year-to-date, home sales are up 17.6%.
Inventory of single-family, re-sale homes fell for the sixteenth month in a row in November: down 49.1% year-over-year.
Pending sales dipped from October, down 15.1%, but were up 66.3% year-over-year.
Days of Inventory rose twelve days to 114 days. In a balanced market, the supply of homes is usually around five to six months. For condos, the indicator dropped 32 days to 171 days.
The sales price to list price ratio dropped 1.4 points to 97.4%.
Condo sales rose 8.3% month-over-month, and were even compared to last November. Year-to-date, condo sales are up 2.7%.
The median price for condos rose 4.3% from the month before, and was up 20.6% compared to last November. Don’t read too much into this as the small number of condo sales each month exaggerates the swings.
Condo inventory was down 34.5% year-over-year.
Pending sales for condos was down 1.3% from October, but up 68.9% 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.
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 DRE #01105052
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