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 October was $885,000, the lowest price since May and down about 3.8% from September. The Condo/Townhome median sale price was $565,000, also down from September and the lowest price for the year. Homes on average were selling for 99.1% of the listed price (compared to 95.4% of the “original listed price”) on par for January’s
numbers. The median days to receive an accepted offer for the county was about
21 days in October, the first time to break 3 weeks since January. The real estate
inventory was 2.4 months for the county, a month less than September’s numbers. 21 listings “expired” in October, the highest amount since January.
Things seem to be slowing down a bit, but the numbers don’t seem to be
too different from January’s numbers at this point. Mortgage rates are
now about 1% higher than they were at the same point last year, so buyer’s
purchasing power has been affected. It will be important to watch how the market
progresses.
Highlights
Watsonville saw the highest inventory in October and Brookdale had the lowest number of sales. Highest number of sales were found in West Side Santa Cruz and Ben Lomond had the lowest inventory. Highest median sale price was found in Scotts Valley, while Brookdale had the lowest. That’s it for this month’s update!
