Aptos Real Estate Market Update for December 2014

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Hello Aptos and welcome to December! It’s hard to believe – really hard to believe! – that in a scant three weeks we’ll be closing the books on 2014 and moving on to 2015, but I’m told that it’s true and there’s no way to stop it. But before we move on to the future, I have one more Aptos real estate market update for December 2014.

The median price for single family homes in Aptos in November 2014 was $791,000 – and that is a 5.6% increase from a year ago. The Aptos market outperformed Santa Cruz county as a whole by a considerable margin, as home prices were up a scant 1.5% county-wide in November 2014.

There were 17 sales of single family homes, which is actually a 54.5% increase from a year ago, as only 11 homes sold in November 2013. The homes which sold did so in an average of 31 days (40% faster than a year ago). Sellers received an average 95.36% of full asking price – which is actually pretty low, as year ago, sellers received 98.1% of asking price on their homes.

There are presently 92 single family homes for sale in Aptos, and of those, 29 are under contract to be sold. That works out to be a 4.7 month supply of inventory – which makes this still a seller’s market.

A few months ago I wrote up a post about 7429 Mesa Drive in Aptos, a custom Mediterranean style home with a pool, guest house, and ocean views. This was a bank-owned REO foreclosure on the market for $1.35 million – it sold, and closed in November, for $1.254 million. A fabulous house which someone will I am sure be very happy to call home (or vacation home, anyway) – but it did need some work.

The market for townhouses and condos was pretty quiet in November, with just 3 having sold, and the median price was $485,000. These three condos sold in an average of 91 days, and sellers received 99.9% of full asking price. We can’t really compare this to sales a year ago, because there weren’t sales a year ago – there was just one single sale a year ago, which sold for $495K after 17 days on market, for 100% of asking price.

There are presently 30 condos and townhouses for sale on the Aptos market, and of those, 11 are under contract, pending sale. That works out to be a be a four month supply of condos and townhouses – also still very much a seller’s market. It should be noted that of those 30 listings, 8 of them are in the Seascape Resort.

What Your Money Buys You – Houses

While the median price for homes in Aptos in November 2014 was $791,000, the least expensive home went for $390,000 and the most expensive went for $1.75 million. Here’s what that kind of money buys you in Aptos today:

What Your Money Buys You – Condos

While the median price for condos in Aptos in November 2014 was $485,000, the least expensive unit sold for $419K and the most expensive went for $588K. Here’s what that kind of money buys you for an Aptos condo/townhouse today: