Last month’s numbers are in and the median home sale price (single family residential detached) for all of Santa Cruz County per the SC Association of Realtors for July was $896,500, down about 3.2% from June. The Condo/Townhome median sale price was $580,000, also down from June. Homes on average were selling for 100.5% of the listed price (compared to 98.1% of the “original listed price”) and the median days to receive an accepted offer for the county was about 14 days in July, pretty consistent since March. The real estate inventory was 2.3 months for the county, a small increase from the month previous.
Things seemed to slow down just a bit during July, at least on the ‘front lines’. Less people out and about in open houses, a slight tick down in pricing however nothing too notable. Notice in the breakdown below Capitola and Soquel both broke the 5.0 months of inventory mark – typically the tipping point to a “neutral” market. When reviewing months of inventory for the entire county though, 2017 and 2016 both had higher inventory during this time of the year, so buyers are still in theory competing for a smaller pool.
Highlights
Capitola, Soquel, Aptos, and Lompico/Zayante saw a spike in inventory and also had a relatively low amount of sales. Highest number of sales were found in Scotts Valley, West Side Santa Cruz, Live Oak and Boulder Creek, and for the most part had relatively low inventory. Highest median sale prices were found in Scotts Valley and West Side Santa Cruz, while Zayante/Lompico had the lowest. That’s it for this month’s update!
