Aptos Real Estate Report October 2014

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There is no month in Aptos more sublime than October. Warm, sunny, fog-free days fade into crisp evenings. So how’s the real estate market holding up? Let’s find out in the Aptos Real Estate Report October 2014.

The median home price in Aptos in September 2014 was $665,000. Last year, the median price in September was $799,000 – so that’s a 16.8% tumble from a year ago.

The sales volume remained steady, with 21 homes sold in October – exactly the same as it was a year ago. The sales to list price ratio was strong, with sellers receiving 99.7% of asking price. This is an improvement of a year ago, when sellers received only 98.5% of asking price. The homes which sold did so in an average of 65 days – considerably longer than a year ago, when homes sold in 48 days on average.

Inventory in Aptos has jumped this month. There are now 114 homes on the market, and of those, 34 are under contract. That works out to about a 5 month supply of inventory – and this is a huge jump from last month, when there was just a 3 month supply of homes. Selling a home in Aptos just got a lot harder!

When it comes to condos and townhouses, 10 closed escrow in September, with a median price of $507,500. That’s a 20.8% increase over a year ago, when the median price was $420,000. Condos sold relatively quickly, in an average of just 46 days, down 19.3% from a year ago, when condos sold in an average of 57 days. Condo sellers did pretty well too in that they received 97.6% of asking price for their homes, compared to just 94.9% a year ago.

There are presently 35 condos and townhouses on the market, and of those, 8 are under contract with 25 available. That works out to about a 6.5 month supply of condos and townhouses. This means that once again, it’s a buyer’s market for condos in Aptos – but just barely.

What Your Money Buys You – Houses

While the median price for homes in Aptos in September 2014 was $721,500, the least expensive home went for $460K and the most expensive went for $2.2 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 September 2014 was $507,500, the least expensive unit sold for $407K and the most expensive went for $800K. Here’s what that kind of money buys you for an Aptos condo/townhouse today: