Is Santa Cruz, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Santa Cruz has remained a Seller's Market.
Housing Prices in Santa Cruz, CA
How much do homes in Santa Cruz, CA cost?
Median Sold Price
$1,312,500
$855/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Santa Cruz was $1,312,500 in May 2024, down 1.4% from last year, and the median price per square foot was $855.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $464.8K | $572.5K | +23.2% |
2 Bedrooms | $1.0M | $1.0M | +4.0% |
3 Bedrooms | $1.4M | $1.4M | +1.8% |
4 Bedrooms | $1.7M | $1.7M | -1.4% |
5+ Bedrooms | $1.7M | $2.2M | +35.3% |
Summary: Santa Cruz housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.2%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 35.3%.
Median Sold Price Compared To Nearby Cities
West Santa Cruz | $1.0M | $1.1M | +12.2% |
Santa Cruz | $1.3M | $1.3M | -1.4% |
Felton | $835K | $776K | -7.1% |
Housing Supply in Santa Cruz, CA
How many homes are available in Santa Cruz, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
153 | 165 | +7.8% |
Summary: The Santa Cruz real estate market had 165 homes for sale in May 2024, a 7.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 10 | -16.7% |
2 Bedrooms | 45 | 53 | +17.8% |
3 Bedrooms | 49 | 53 | +8.2% |
4 Bedrooms | 33 | 34 | +3.0% |
5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Santa Cruz housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
51 | 38 | -25.5% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Santa Cruz in May 2024, down by 25.5% month-over-month. Of the 38 sold homes, 37% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Santa Cruz, CA
How long does it take to sell a home in Santa Cruz, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 37 Days | +66.0% |
Summary: Homes in Santa Cruz had an average of 37 days on market in May 2024, up by 66% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 38 homes were sold in Santa Cruz; 71% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.