Below are the Santa Cruz County Market Statistics for the month of December ’21. Here are the highlights:
– Active Inventory hit an all-time low.
– The median SFH sales price decreased to $1.21M from $1.26M the month prior. Still, though, Dec 2021 is up $135k (12.6%) from Dec 2020.
– Number of sales decreased from 164 in November ’21 to 130 in December ’21. Sales are down 23.9% compared to December ’20.
– Days on market increased from 19 in November ’21 to 32 in December ’21. DOM in December ’20 was 28.
It is no surprise that December ‘21 saw a downturn in the number of sales and an increase in days on market from the month prior. Santa Cruz is a seasonal market and December is historically the slowest month of the year. Slightly more surprising is the decrease in median home price. Over the last 10 years, a decrease in median home price from November to December only occurred three times. However, 2021 was a year of record highs, a minor decrease in December shouldn’t raise an alarm of a changing market. If by the end of March, the median home price hasn’t rebounded above the December levels, then we can say we have a downward trend.
If you have any questions or would like to discuss further, please give us a call.