home prices

Spring has sprung in Aptos! And you know what that means: it’s time for the Aptos Real Estate Market Update for March 2015!

The median price for single family homes in Aptos in February 2015 was $706,500 – up 3.1% from a year ago when the median price was $685,000. Aptos is usually comfortably above the county median price, however this month, we barely edged out everyone else, as county-wide, the median price was an even $700,000.

There were 17 sales of single family homes, which is 15% lower than a year ago, because 20 homes sold in February 2014. The homes which sold did so in an average of 34 days (vs. 70 days this time a year ago). Sellers received an average 99.3% of full asking price – up significantly from last year this time, when sellers received only 96.9% of asking price.

There are presently 93 single family homes for sale in Aptos, and of those, 42 are under contract to be sold. That works out to be a 1.8 month supply of inventory – which is virtually unchanged from the inventory level last month.

Our median single family home price isn’t setting any records. What’s more, our prices are now just a blip over the county’s median…so does this mean the Aptos real estate market has cooled down? Not at all. The fact that those 17 homes sold in an average of 34 days, and that sellers received 99.3% of full asking price – and the fact that inventory remains so low adds up to a market where sellers are still very much in the driver’s seat.

Let’s turn out attention to the market for condos and townhomes. The median price for condos and townhomes was $435,000 in February 2015 – and that represents a 12.5% decline compared to a year ago, when the median condo price in February 2014 was $497,000. Condo prices tend to be pretty volatile though, as comparatively few units sell in any one month. In fact, just 7 condos sold in Aptos in February 2015, which is a 30% decline compared to last year, when 10 sold.

However, let’s look at the other key numbers: the condos which sold did so in an average of 26 days – compared to 103 days on average a year ago. Not only that, condo owners received 100.7% of full asking price – suh-weet! This compares very favorably to last year, when owners only got 97.8% of full asking price.

At this time, there are only 27 condos and townhouses for sale in all of Aptos! Of those 27, ten are under contract – which works out to a 2.9 month supply of condos and townhouses…so the condo market isn’t quite as tight as the single family market, but remember, a lot of the available inventory is in the Seascape Resort, which is kind of like a world unto itself.

What Your Money Buys You – Houses

While the median price for homes in Aptos in February 2015 was $706,500, the least expensive home went for $550,000 and the most expensive went for $1,199,000. 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 February 2015 was $435,000, the least expensive unit sold for $330,000 and the most expensive went for $579K. Here’s what that kind of money buys you for an Aptos condo/townhouse today:

Happy New Year Aptos! Another year has come and gone, and it’s time to start fresh with the Aptos Real Estate Market Update for January 2015. We start the year off not with a bang but a whimper – the market is in some ways still piping hot, with very little inventory available for sale and homes selling quickly. Demand remains strong, especially as compared to inventory…but single-family home prices in December remained flat compared to a year ago.

The median price for single family homes in Aptos in December 2014 was $757,000 – down 1.1% from a year ago when the median price was $765,000. The Aptos median price was 7.7% above the median for Santa Cruz County ($702K) in December (which is a gain of 13.9% for the county as a whole, year over year).

There were 18 sales of single family homes, which is actually a 22% decrease from a year ago, as 23 homes sold in December 2013. The homes which sold did so in an average of 58 days (vs. 55 days this time a year ago). Sellers received an average 98.5% of full asking price – up a tad from a year ago when sellers received 98.33% on average.

There are presently 73 single family homes for sale in Aptos, and of those, 25 are under contract to be sold. That works out to be a 2.9 month supply of inventory – which makes Aptos once again a very solid seller’s market – and then some.

2014 Wrap-Up – Single Family Homes

Looking at 2014 as a whole, we see that there was a total of 295 sales reported on the MLS (down 4.2% compared to 2013). The least expensive home sold for $130K, the highest sale was $4.5 million, and the median price for all homes sold in 2014 was $750,000. That is up 7.7% for the year as a whole, as the median price for all of 2013 was $695,750. In 2014, single-family homes sold in an average of 62 days on market, and sellers received 97.3% of asking price.

The market for townhouses and condos is another matter…there were three times more condo and townhouse sales in December as compared to November. The median price for condos and townhouses was $596,500 – a sharp jump of 17.4% compared to a year ago. Condos sold in an average of 55 days on market, and sellers received 98.12% of full asking price.

At this time, there are only 18 condos and townhouses for sale in all of Aptos! Of those 18, six are under contract – which works out to just a 3 month supply of condos and townhouses…also a very, very strong seller’s market. Six of those units are located in the Seascape Resort – so excluding Seascape, there’s just 12 condos and townhouses on the market, and of those, 5 are actually under contract…leaving just 7 condos and townhouses available in Aptos proper (outside of the Seascape Resort).

2014 Wrap-Up – Condos/Townhouses

Looking at 2014 as a whole, we see that there was a total of 97 sales reported on the MLS (down 16.4% compared to 2013). The least expensive condo sold for $310K, the highest sale was $925K, and the median price for all condos/townhouses sold in 2014 was $498,000. That is up 22.7% for the year as a whole, as the median price for all of 2013 was $432,500. In 2014, condos and townhosues sold in an average of 67 days on market, and sellers received 98.12% of asking price.

What Your Money Buys You – Houses

While the median price for homes in Aptos in December 2014 was $757,000, the least expensive home went for $555,000 and the most expensive went for $1.29 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 December 2014 was $596,500, the least expensive unit sold for $353,281 and the most expensive went for $760K. Here’s what that kind of money buys you for an Aptos condo/townhouse today: