Aptos Real Estate Market Update for January 2015

(No Ratings Yet)

Loading...

Happy New Year Aptos! Another year has come and gone, and it’s time to start fresh with the Aptos Real Estate Market Update for January 2015. We start the year off not with a bang but a whimper – the market is in some ways still piping hot, with very little inventory available for sale and homes selling quickly. Demand remains strong, especially as compared to inventory…but single-family home prices in December remained flat compared to a year ago.

The median price for single family homes in Aptos in December 2014 was $757,000 – down 1.1% from a year ago when the median price was $765,000. The Aptos median price was 7.7% above the median for Santa Cruz County ($702K) in December (which is a gain of 13.9% for the county as a whole, year over year).

There were 18 sales of single family homes, which is actually a 22% decrease from a year ago, as 23 homes sold in December 2013. The homes which sold did so in an average of 58 days (vs. 55 days this time a year ago). Sellers received an average 98.5% of full asking price – up a tad from a year ago when sellers received 98.33% on average.

There are presently 73 single family homes for sale in Aptos, and of those, 25 are under contract to be sold. That works out to be a 2.9 month supply of inventory – which makes Aptos once again a very solid seller’s market – and then some.

2014 Wrap-Up – Single Family Homes

Looking at 2014 as a whole, we see that there was a total of 295 sales reported on the MLS (down 4.2% compared to 2013). The least expensive home sold for $130K, the highest sale was $4.5 million, and the median price for all homes sold in 2014 was $750,000. That is up 7.7% for the year as a whole, as the median price for all of 2013 was $695,750. In 2014, single-family homes sold in an average of 62 days on market, and sellers received 97.3% of asking price.

The market for townhouses and condos is another matter…there were three times more condo and townhouse sales in December as compared to November. The median price for condos and townhouses was $596,500 – a sharp jump of 17.4% compared to a year ago. Condos sold in an average of 55 days on market, and sellers received 98.12% of full asking price.

At this time, there are only 18 condos and townhouses for sale in all of Aptos! Of those 18, six are under contract – which works out to just a 3 month supply of condos and townhouses…also a very, very strong seller’s market. Six of those units are located in the Seascape Resort – so excluding Seascape, there’s just 12 condos and townhouses on the market, and of those, 5 are actually under contract…leaving just 7 condos and townhouses available in Aptos proper (outside of the Seascape Resort).

2014 Wrap-Up – Condos/Townhouses

Looking at 2014 as a whole, we see that there was a total of 97 sales reported on the MLS (down 16.4% compared to 2013). The least expensive condo sold for $310K, the highest sale was $925K, and the median price for all condos/townhouses sold in 2014 was $498,000. That is up 22.7% for the year as a whole, as the median price for all of 2013 was $432,500. In 2014, condos and townhosues sold in an average of 67 days on market, and sellers received 98.12% of asking price.

What Your Money Buys You – Houses

While the median price for homes in Aptos in December 2014 was $757,000, the least expensive home went for $555,000 and the most expensive went for $1.29 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 December 2014 was $596,500, the least expensive unit sold for $353,281 and the most expensive went for $760K. Here’s what that kind of money buys you for an Aptos condo/townhouse today: