It’s been a while since our last update on the local housing market. What’s happened to housing in Santa Cruz County since the summer?
For starters, prices are up and inventory is down.
The median price for single family homes in October was $715,000, up 11% from last October, and up a healthy 6% from September. Condos had a median price of $465,000 in October. This is an increase of 24% from a year ago, and a 9% gain from September.
Evaluating the numbers gives us a good start at understanding the housing market, but while the numbers never lie, they don’t always paint the whole picture. That’s why this month we want to open the topic of the Santa Cruz real estate market up to local agents.
If you’re an agent in Santa Cruz County then head over to our Facebook page to let us know what’s really happening in the market. What’s hot? what’s not? Where’s the market heading? Add your voice, or just read along to find out what the experts have to say, at the following link:
Join the conversation on Facebook
October Housing Statistics in Santa Cruz County:
Single Family Homes
| 2013 | 2014 | % Change | |
|---|---|---|---|
| Inventory | 641 | 535 | -17% |
| New Inventory | 198 | 158 | -20% |
| Sales | 162 | 163 | 1% |
| Avg. Sales Price | $687,750 | $794,806 | 16% |
| Median Price | $647,000 | $715,000 | 11% |
Condo’s & Townhomes
| 2013 | 2014 | % Change | |
|---|---|---|---|
| Inventory | 144 | 118 | -18% |
| New Inventory | 38 | 35 | -8% |
| Sales | 45 | 37 | -18% |
| Avg. Sales Price | $431,955 | $479,416 | 11% |
| Median Price | $376,000 | $465,000 | 24% |
Data courtesy of Santa Cruz County Association of Realtors.
