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 March 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

$1,305,000

$845/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$24,833(-1.9%)

Key Takeaway

Homes in Santa Cruz have sold for 1.9% less than they did a year ago.

Summary: The median home sold price in Santa Cruz was $1,305,000 in March 2024, down 1.9% from last year, and the median price per square foot was $845.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $487.5K$575K
+17.9%
2 $1.0M$1.0M
-1.5%
3 $1.4M$1.4M
+0.7%
4 $1.7M$1.7M
+1.8%
5+ $1.8M$2.0M
+11.6%

Summary: Santa Cruz housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 11.6%.

Median Sold Price Compared To Nearby Cities

Santa Cruz
-1.9%
Felton
-4.4%

Housing Supply in Santa Cruz, CA

How many homes are available in Santa Cruz, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
98122+24.5%

Summary: The Santa Cruz real estate market had 122 homes for sale in March 2024, a 24.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 119
-18.2%
2 3338
+15.2%
3 3042
+40.0%
4 1825
+38.9%
5+ 68
+33.3%

Summary: The Santa Cruz housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 38.9%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2825-10.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Santa Cruz, you may be able to get a good deal. 36% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in Santa Cruz in March 2024, down by 10.7% month-over-month. Of the 25 sold homes, 36% were sold under asking, 32% were sold at asking, and 32% 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

Mar 2023Mar 2024CHANGE
28 Days23 Days-18.0%

Summary: Homes in Santa Cruz had an average of 23 days on market in Mar 2024, down by 18% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were 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 March 2024, 25 homes were sold in Santa Cruz; 84% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 12% 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 22 Days Ago

Newest Listings in Santa Cruz, CA

Nearby Markets to Santa Cruz, CA

What housing markets are near Santa Cruz, CA?