Is Santa Cruz, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $487.5K | $575K | +17.9% |
| 2 Bedrooms | $1.0M | $1.0M | -1.5% |
| 3 Bedrooms | $1.4M | $1.4M | +0.7% |
| 4 Bedrooms | $1.7M | $1.7M | +1.8% |
| 5+ Bedrooms | $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 | $1.3M | $1.3M | -1.9% |
| Felton | $850K | $813K | -4.4% |
Housing Supply in Santa Cruz, CA
How many homes are available in Santa Cruz, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 98 | 122 | +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
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 9 | -18.2% |
| 2 Bedrooms | 33 | 38 | +15.2% |
| 3 Bedrooms | 30 | 42 | +40.0% |
| 4 Bedrooms | 18 | 25 | +38.9% |
| 5+ Bedrooms | 6 | 8 | +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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 25 | -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
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 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 23 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
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.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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