The real estate market in Santa Cruz County showed notable trends in June 2024. Here’s a detailed look at the key metrics including inventory, prices, and sales performance for single-family homes and condos/townhomes.
Inventory Trend for Santa Cruz County
In June 2024, the inventory for single-family homes saw a significant increase, reaching its highest level in recent years. This trend began in early 2023 and continued to rise steadily. For condos and townhomes, the inventory remained relatively stable, with a slight upward trend observed towards mid-2024.
Santa Cruz County Median and Average Pricing Trends
The median price for single-family homes in Santa Cruz County has shown a steady increase throughout 2024, peaking at around $1.4 million in June. This represents a recovery from the dips seen in early 2023. The median price for condos/townhomes also followed an upward trajectory, reaching approximately $900,000 in June 2024.
Similarly, the average price trend mirrored the median price trends, indicating consistent demand across both market segments. The average price for single-family homes was around $1.5 million, while condos and townhomes averaged close to $850,000.
Santa Cruz County Days on Market Trend
The median days on market (DOM) for single-family homes and condos/townhomes showed variability over the past few years. June 2024 data revealed a decline in DOM, indicating faster sales compared to the beginning of the year. Single-family homes had a median DOM of 20 days, while condos/townhomes had a median DOM of 25 days.
Santa Cruz County Months to Sell Trend
The months to sell metric for single-family homes in Santa Cruz County has fluctuated over the past three years. June 2024 saw this metric stabilize around 2.5 months. For condos/townhomes, the months to sell remained lower, indicating a slightly faster turnover in the market.
Closed Sales
Closed sales for single-family homes in June 2024 showed a decline from the peak observed in mid-2023, reflecting a tighter market. Conversely, closed sales for condos/townhomes remained steady, highlighting sustained demand in this segment.
Santa Cruz County Sale Price vs. List Price
The percentage of sale price to list price for single-family homes and condos/townhomes has fluctuated. In June 2024, this percentage stabilized around 100%, indicating that homes are generally selling at their listed prices.
Key Takeaways
- Increased Inventory: The rise in inventory levels provides more options for buyers in Santa Cruz County, especially for single-family homes.
- Rising Prices: Both median and average home prices have been increasing, indicating strong market demand.
- Faster Sales: The decline in days on the market suggests a quicker sales process, beneficial for sellers.
- Stable Sale Prices: Homes sell at or near their listed prices, reflecting a balanced market.
For anyone looking to buy or sell property in Santa Cruz County, it is crucial to work with experienced professionals. Jessica Wallace, a top agent at Coldwell Banker Santa Cruz, is recognized as one of the best realtors in the area, offering expert guidance in navigating the market. Whether you are searching for a house for sale in Capitola, Aptos, or any other part of Santa Cruz County, partnering with Santa Cruz CA best realtor can make all the difference.
Contact Jessica Wallace Realtor in Coldwell Banker Santa Cruz at 831.419.9345!
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