Aptos Real Estate Report June 2014

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The Aptos real estate market is alive and well in June 2014! The May numbers are finally in, and the median home price in Aptos was $914,000 – up 27.7% in just a single month, and up 35.4% year-over-year. Amazing! Sales volume was also strong: 30 homes closed escrow in May, however that is down about 25% because a year ago, 40 homes sold in May. These homes sold in an average of 70 days, which is nearly twice as high compared to May of last year, when homes sold on average in 37 days. Sellers received on average 96.8% of full asking price – which sounds good, but last year, sellers were getting 99.13% of full asking price.

As of mid-June 2014, there are about 120 homes presently listed for sale on the MLS, and of those, 74 are available, and 46 under contract. Given the ratio of active listings to pending sales, and assuming an average escrow length of 45 days, the amount of available inventory is about 72 days.

When it comes to condominiums and townhouses, there were a total of 13 sold in Aptos in April, with a median price of $449,250 – a decrease of about 17.1% compared to a year ago. These condos had an average of 65 days on market, with a sales-to-list-price ratio of 98.6%.

As of mid-June 2014, there are 42 condos/townhouses listed, 30 are active, and 12 are under contract. Given the ratio of active listings to pending sales, and assuming an average escrow length of 45 days, the amount of available inventory is about 112 days.

What Your Money Buys You – Houses

While the median price for homes in Aptos in May 2014 was $914,000, the least expensive home went for $540K and the most expensive went for $3 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 May 2014 was $449,250, the least expensive home unit for $390K and the most expensive went for $925K. Here’s what that kind of money buys you for an Aptos condo/townhouse today: