It seems like just last week that dawn broke on the new year of 2014, but now we’re already staring at Thanksgiving, right around the corner. And you know what that means: it’s time for the Aptos Real Estate Market Update for November 2014.
Last month we reported that the median home price in Aptos had taken quite a tumble, down 16.8% from a year ago. What a difference 30 days makes! The median price for Aptos single-family homes in October 2014 was $774,000 – an increase of 5.7% compared to a year ago, and up 16.3% compared to the month before. Phew!
Not only did the home price bump up, sales volume came in higher than normal, with 25 single-family homes having sold in Aptos in October. That’s a 19% increase compared to a year ago, and also a month ago, when 21 homes were sold in both of those periods. The sales-to-list-price ratio remains unchanged: sellers got 98.4% of asking price last month, same as a year ago.
Homes sold quickly in Aptos last month, in an average of just 39 days – that’s 51% faster than a year ago, and 20% faster than the county average of 49 days for sold homes in October 2014.
You may recall that last month I reported a jump in inventory in Aptos – however, inventory has dropped since then. At this time, there are 103 homes listed for sale in all of Aptos, and of those, 28 are under contract. That works out to just about a four month supply of homes – still, a very good seller’s market.
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Just five condos/townhouses closed escrow in October, with a median price of $589,000. That’s a 80% increase over a year ago, when the median price was $327,500. Of course, given how few condos sold last month, it’s not a useful measurement of the comparative strength of condo prices last month compared to a year ago, but it’s good link-bait.
Condos sold in an average of 79 days, a bit quicker than a year ago when they sold in 81 days. Condo sellers did pretty well too in that they received 97% of asking price for their homes, compared to just 92.1% a year ago.
There are presently 30 condos and townhouses on the market, and of those, 7 are under contract with 23 available. That works out to about a 5 month supply of condos and townhouses. Remember, many of those units (11, actually) are in the Seascape Resort, which is kind of a market unto itself.
What’s YOUR Aptos House Value?
Interested to know what your Aptos house is worth in today’s real estate market? Then head over to AptosHomeValues.com for an instant, on-line evaluation of your Aptos home’s value.
What Your Money Buys You – Houses
While the median price for homes in Aptos in October 2014 was $774,000, the least expensive home went for $375,454 and the most expensive went for $1.67 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 October 2014 was $589,000, the least expensive unit sold for $465K and the most expensive went for $900K. Here’s what that kind of money buys you for an Aptos condo/townhouse today:
What about the rest of Santa Cruz county?
Want to know what’s going on in all of Santa Cruz county? For a complete report on Santa Cruz county as a whole, check out the Santa Cruz County Real Estate Report for November 2014