Hey everyone, welcome to the brand new year, 2016! There’s been a lot of talk about El Niño this season, but so far the truly massive storms that have been predicted have for the most part failed to appear. There’s been rain, and plenty of it by recent standards, but I wouldn’t call it a deluge…although it has been enough to put something of a damper on the Aptos real estate market! How’s that, you ask? Find out in the Aptos Real Estate Update January 2016!
January 2016 Aptos Real Estate Update
The median price for single family homes in Aptos in December 2015 was $779,000 – which is up just 2.9% from a year ago (when the median price was $757,000). This is however down 12.2% from the month prior, when in November 2015 the median home price was a nose-bleeding $887,450.
There were 23 sales of single family homes in December 2015, and that’s a solid 27.8% increase from December a year ago, when only 18 homes were sold. These 23 homes sold in an average of 90 days on market – again, much longer than we’d seen for most of the year prior, and much longer than a year ago, when homes took an average of just 55 days to sell in November 2014.
Looking back at the whole year, we sold 334 single family homes in Aptos with a median price of $827,500. This was a healthy increase over 2014, when we sold just 295 single family homes (11.7% fewer) at a median price of $750,000 (9.4% lower).
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Last month, sellers received on average 96.5% of full asking price for their homes – considerably less than we’d seen for most of this year, when some months had average sales prices over 100% of asking. A year ago at this time, sellers received an average of 98.5% of full asking price.
At the time of this report, there were 45 single family homes for sale in all of Aptos, and of those, 20 were under contract to be sold. That works out to be a 56 day supply of inventory – that’s less than two months! There are only 25 single family homes currently available for purchase in all of Aptos – at any price! It’s very, very much a seller’s market as we begin a new year.
We turn now to the market for condos and townhomes. The median price for condos and townhomes was $580,000 in December 2015. That is a dip of 2.8% compared to a year ago, when the median condo price was $596,500. There were a total of 7 condo and townhouse sales in December, which is a drop of 22% in sales volume compared to a year ago, when 9 condos and townhouses closed in November 2014.
The condos which sold did so in an average of 57 days on market – about as long as it was taking them a year ago, when they sold in an average of 55 days.
At the time of this report, there were 24 condos and townhouses for sale in Aptos, but 10 of those are presently under contract to be sold, leaving just 14 units available for purchase. This works out to be just a 63 day supply of condos in Aptos – again, very much a seller’s market.
What’s YOUR Aptos House Value?
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What Your Money Buys You – Houses
While the median price for homes in Aptos in December 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 December 2015 was $580,000, the least expensive unit sold for $465,000 and the most expensive went for $740,000. 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 January 2016