Aptos Real Estate Update October 2016

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It has been four months since my last Aptos real estate market update, back in June. Back then, I had some actual news to share. The real estate report was no longer the same story of rising prices with crushingly low inventory. Prices were still rising back in June, but the number of sales had dropped and the supply of homes reached nearly six months – the biggest supply we’d seen in quite some time, and as everyone knows, greater supply often leads to lower prices.

The spring and summer selling seasons are long behind us, and we’re well into autumn. Far from being a dead time of year, some of the highest prices for Santa Cruz Real Estate are recorded in the autumn months. So how is the Aptos real estate market holding up these four months later, in October 2016?

What’s YOUR Aptos House Value?

Aptos Home Prices

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The answer is, it’s been strongerZillow gives Aptos a “market health” of 7.5/10 – which is rated as “good” but not “excellent” as we’ve seen in the past. Homesnap rates Aptos at 81/100 – “healthy” – but not “very healthy” as we’ve seen it not so long ago.

But here’s what you really want to know – the median home price for single-family homes in Aptos in September 2016 was $805,000 – which is down 9.3% compared to a year ago. Speaking of good and healthy: that perfectly describes this year-over-year price drop, if you ask me. The number of homes sold was also down; only 29 homes were sold in September 2016, vs. 40 in September 2015, a drop of 27.5%.

Looking for a Home in Aptos?

aptos-homesEvery home in Aptos is unique, and finding just the right home can be like finding that needle in a haystack. Fortunately, now there’s AptosHomes.net, the only web site created especially for the Aptos home buyer – check it out!

But the news wasn’t all bad: homes sold for 99% of asking price, and a year ago homes received just 96.9% of full list price. Also, the 29 homes that sold did so in an average of just 34 days on market – compared to 46 days on market a year ago. It seems that while folks are paying less for housing this year than last year, the homes are selling more quickly – a mixed blessing for sellers.

And here’s some more good news, at least if you’re thinking about putting your home on the market this year: we are back down to a 3 month supply, vs. a 6 months supply four months ago. There are 103 single family homes for sale in Aptos at the moment, with 33 under contract and just 70 available for purchase. That works out to just 95 days worth of inventory – or, not much competition for home seller, and a still-challenging market for home buyers.

What does the future hold?

Want to know what the future holds? Wouldn’t we all!  There’s no way to know for sure what’s going to happen with the housing market next year, but you can listen to an expert’s best guess here: California 2017 Real Estate Market Forecast

The market for townhouses and condos in Aptos is also also down compared to a year ago. Just four townhouses/condos sold in Aptos in September 2016 – compared to 11 in September 2015, a decrease of 63.6% year over year. The median price for condos in September 12016 was lower too – just $607,750 vs $672,500 a year ago (a drop of 9.,6% year over year).

One interesting note about the condo market is that these 4 homes sold in an average of just 11 days on market – compared to 66 days on market a year ago. This is a good indication that well-priced homes will sell – and sell quickly – in Aptos. If you are planning to sell your condo or townhouse, please note that there is presently 150 days worth of inventory in Aptos, so don’t be too aggressive with your pricing.

Low, Median, and Highest Sales – Single-Family Homes

7101 Fern Flat Road - 0 bed, 0 bath, 300sf  - sold for $420K after 42 DOM (7 acres of land)

7101 Fern Flat Road – 0 bed, 0 bath, 300sf – sold for $420K after 42 DOM (7 acres of land)

200 Heather Terrace - 3/2.5, 1957sf - sold for $805K in 42 DOM

200 Heather Terrace – 3/2.5, 1957sf – sold for $805K in 42 DOM

544 Beach Drive - 3/3 2100sf - sold for $1,825,000 after 64 DOM

544 Beach Drive – 3/3 2100sf – sold for $1,825,000 after 64 DOM

Low, Median, and Highest Sales – Condos/Townhouses

1614 Dolphin Drive - 2/2 945sf - sold for $450K in 14 DOM

1614 Dolphin Drive – 2/2 945sf – sold for $450K in 14 DOM

6115 Sheraton Place - 3/2.5 1479sf - sold for $625K in 11 DOM

6115 Sheraton Place – 3/2.5 1479sf – sold for $625K in 11 DOM

210 Carrera Circle - 3/2.5 1450sf - sold for $704K in 9 DOM

210 Carrera Circle – 3/2.5 1450sf – sold for $704K in 9 DOM

Seb Frey
Check me out

Seb Frey

Broker/Owner at Realty World Virtuoso
AptosCommunityNews.org is brought to you by Sebastian "Seb" Frey.Seb is a longtime Aptos resident and home owner.   He's married with two boys, and like all of us, loves Aptos with a passion.  Seb is a real estate broker (BRE #01369847) by trade and works to strengthen the community he serves, lives in, and loves.  If you need any help with Real Estate in Aptos or anywhere in Santa Cruz county, you can reach Seb at (831) 704-6873.
Seb Frey
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