Is Santa Cruz, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Santa Cruz is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Santa Cruz has remained a Seller's Market.

Key Takeaway

Santa Cruz is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Santa Cruz, CA

How much do homes in Santa Cruz, CA cost?

Median Sold Price

$1,315,533

$868/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

-$9,466(-0.7%)

Key Takeaway

Homes in Santa Cruz have sold for 0.7% less than they did a year ago.

Summary: The median home sold price in Santa Cruz was $1,315,533 in June 2024, down 0.7% from last year, and the median price per square foot was $868.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $464.8K$575K
+23.7%
2 $994.2K$1.0M
+5.6%
3 $1.3M$1.4M
+4.3%
4 $1.8M$1.6M
-5.7%
5+ $1.7M$2.2M
+33.8%

Summary: Santa Cruz housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.7%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 33.8%.

Median Sold Price Compared To Nearby Cities

Santa Cruz
-0.7%
Felton
-9.0%

Housing Supply in Santa Cruz, CA

How many homes are available in Santa Cruz, CA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
155172+11.0%

Summary: The Santa Cruz real estate market had 172 homes for sale in June 2024, a 11.0% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 912
+33.3%
2 5053
+6.0%
3 5261
+17.3%
4 3031
+3.3%
5+ 1415
+7.1%

Summary: The Santa Cruz housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 7.1%.

Number of Homes Sold

May 2024Jun 2024CHANGE
4143+4.9%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Santa Cruz, you could pay more than the asking price. 59.5% of homes here sold above asking price last month.

Summary: A total of 43 homes were sold or pending in Santa Cruz in June 2024, up by 4.9% month-over-month. Of the 42 sold homes, 29% were sold under asking, 12% were sold at asking, and 60% 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

Jun 2023Jun 2024CHANGE
19 Days20 Days+5.7%

Summary: Homes in Santa Cruz had an average of 20 days on market in Jun 2024, up by 5.7% compared to last year.

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Santa Cruz are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 43 homes were sold in Santa Cruz; 81% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

Newest Listings in Santa Cruz, CA

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