Aptos Real Estate Update December 2015

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The cold and damp have at long last returned to Aptos! After a lovely warm and relatively fog-free summer and fall, Aptos is seeing its first “real” winter in many moons. But what effect is the chilly and wet weather having on the Aptos real estate market? Find out in the Aptos Real Estate Update December 2015!

December 2015 Aptos Real Estate Update

The median price for single family homes in Aptos in November 2015 was $887,450 – which is up about 12.2% from a year ago (when the median price was $791,000). This is also up 7.4% from the month prior, when the median price in May was $772,500.

There were 24 sales of single family homes in November 2015, and that’s a healthy increase of 41.1% compared to a year ago. These 24 homes sold in an average of just 63 days on market – considerably longer than it took for homes to sell earlier in the year, when homes were typically on the market for about 30 days on average. A year ago at this time, it took 31 days on average to sell a single family home in Aptos.

Not only that – sellers received on average 97.3% of full asking price for their homes – considerably less than we’d seen earlier in the year, when the average sale-to-list-price ratio often exceeded 100%. A year ago at this time, however, sellers were receiving only 95.3% of full asking price.

At the time of this report, there were 74 single family homes for sale in Aptos, and of those, 36 were under contract to be sold. That works out to be a 1.5 month supply of inventory; that is an extremely low level of inventory for Aptos! With just 38 single family homes available for purchase in all of Aptos, it’s very, very much a seller’s market as we head deeper into winter.

Let’s turn out attention to the market for condos and townhomes. The median price for condos and townhomes was $750,000 in November 2015. That is a meteoric rise of 54.6% compared to a year ago, when the median condo price was just $485,000. However, this past November there several sales of full-ocean-view condos that skewed the numbers higher than last year. However, the median condo price was up 14.7% compared to this past October, when the median condo price was $654,000.

There were a total of 7 condo and townhouse sales in November, which is an increase in volume of 133% compared to a year ago, when just 3 condos and townhouses sold at this time.

The condos which sold did so in an average of 21 days on market – a big improvement compared to a year ago, when condos took 91 days to sell on average for closings in November 2014.

At the time of this report, there were 22 condos and townhouses for sale in Aptos, but 8 of those are presently under contract to be sold, leaving just 14 units available for purchase. This works out to be a paltry 78 days – less than three months! – of condo inventory in Aptos. It’s very much a seller’s market for condos as well as single family homes in Aptos.

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 SellForSure.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 November 2015 was $887,450, the least expensive home went for $420,000 and the most expensive went for an even $3,588,000. 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 November 2015 was $750,000, the least expensive unit sold for $550,000 and the most expensive went for $918,000. Here’s what that kind of money buys you for an Aptos condo/townhouse today: