Aptos Real Estate Update May 2015

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I don’t know how it happened, but Memorial Day weekend is practically staring me right in the face, and only just now am I getting to the Aptos Real Estate Market Update for May 2015!

The median price for single family homes in Aptos in April 2015 was $815,000 – which is down about 6.3% from last month (when the median was $870K). It is, however, up 22% from a year ago when the median price was $640,000. That’s a pretty sizable increase over last year, and also well above the Santa Cruz county median price of $779,000 for this same time period.

There were 32 sales of single family homes, which is 8.5% fewer than a year ago, because 35 homes sold in April 2014. The homes which sold did so in an average of 104 days – and that is 65% longer than homes took to sell last year at this time, when homes sold in an average of 63 days. For Santa Cruz county as a hole, homes sold in an average of 44 days in April 2015 – so the Aptos real estate market has slowed up some.

Sellers received an average 98.2% of full asking price in April – which sounds great, but a year ago at this time, sellers were receiving 99.9% of full ask.

At the beginning of this month, there were 102 single family homes for sale in Aptos, and of those, 40 were under contract to be sold. That works out to be a 2.3 month supply of inventory. That’s still a very, very low relative of inventory – but it is up significantly (35%) compared to the month before, when we only had a 1.7 month supply of single family homes available.

Let’s turn out attention to the market for condos and townhomes. The median price for condos and townhomes was $557,500 in April 2015 – and that actually represents a 10.1% increase compared to a year ago, when the median condo price in April 2014 was $620,000. A total of 10 condos sold in Aptos in April 2015, which is a 33.3% increase in sales compared to a year ago, when just 15 condos sold.

The condos which sold did so in an average of 33 days on market – which is about 15% faster than a year ago at this time, when condos took an average of 39 days to sell. On average, condo sellers received 97.6% of full asking price for their homes, which isn’t as well as this time last year, when sellers received 98.6% of list price.

At the beginning of this month, there were 36 condos and townhouses for sale in Aptos, exactly the same as last month. Of those 36, 18 are under contract – which works out to a 45 day – just 1.5 month! – supply of condos and townhouses. This is a much tighter supply than last month at this time, when only 12 of the 36 condos available condos were under contract.

What Your Money Buys You – Houses

While the median price for homes in Aptos in April 2015 was $815,000, the least expensive home went for $530,000 and the most expensive went for $2,495,000. 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 April 2015 was $557,500, the least expensive unit sold for $445,000 and the most expensive went for $1,350,000. Here’s what that kind of money buys you for an Aptos condo/townhouse today: