We remain in a seller’s market in Santa Cruz County, with 2.7* months of inventory as of July 5th for single-family homes. The median sale price dropped in June to $897k, which is 3.2% lower than the median sale price in June 2018. The number of new listings dropped, with 229 single-family homes listed for sale in June. The number of closings increased, with 163 single-family homes closed. The average sale-to-list price ratio dropped to 98.9%. Average days on market rose to 31.
*Months of inventory tells us how many months it would take for all of the homes currently on the market to sell, given the current rate of sale. Less than 5 months of inventory generally indicates a seller’s market.