Aptos Real Estate Market Update for February 2015

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Welcome to February, Aptos! It’s the middle of the month, so that means it’s time again for the Aptos Real Estate Market Update for February 2015. While the overall health of the Santa Cruz county real estate market appears to be quite robust, things are looking a little less sunny in Aptos these days, at least when it comes to real estate prices.

The median price for single family homes in Aptos in January 2015 was $740,000 – down 9.5% from a year ago when the median price was a lofty $817,250. Although the median price did drop year over year, it does remain comfortably higher than the county average of $677,500 for the same time period.

There were 18 sales of single family homes, a drop of 18.2% from a year ago, as 22 homes sold in January 2014. The homes which sold did so in an average of 72 days (vs. 81 days this time a year ago). Sellers received an average 99.4% of full asking price – considerably better than a year ago at this time, when sellers received only 94.4% of list price.

There are presently 93 single family homes for sale in Aptos, and of those, 42 are under contract to be sold. That works out to be a 1.8 month supply of inventory – which is a very low level of inventory. Given the short supply and brisk demand, it is unlikely that home prices in Aptos will continue to fall (much) over the spring and summer selling season.

The condo and townhouse market also experienced a price drop in January. A total of 5 condos and townhouses sold in January, with a median price of $399,000 – a drop of 13.3%. The condos which sold did so in an average of 72 Days on Market (versus 77 days a year ago), and sellers received 98.4% of full asking price for their units (versus 99.3% one year ago)

Today, there are presently 21 condos or townhouses for sale in Aptos, but of those, 12 are presently under contract. That works out to just a 34 day supply of condos and townhouses in Aptos. Owners, if you’re thinking it’s a good time to get your Aptos condo or townhouse on the market – you’re right about that!

What Your Money Buys You – Houses

While the median price for homes in Aptos in January 2015 was $740,000, the least expensive home went for $497,000 and the most expensive went for $1.4 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 January 2015 was $399K, the least expensive unit sold for $303K and the most expensive went for $521,500. Here’s what that kind of money buys you for an Aptos condo/townhouse today: