Monthly Market Report June 2023- Santa Cruz Real Estate

Welcome to another fresh blog. As promised this is a part of the series on monthly market reports from different parts of California. And you know where the present report is coming from? It’s Santa Cruz!

Not only does this report highlight the SFR sales in Santa Cruz, California but it also represents the active sales in comparison to houses sold in the past year. In addition to this, median days of present sales are also researched and discussed in detail in this report.

The California Association of Realtors is responsible for the present statistics analysis. The report presents the figures from June 2023 which are extremely handy for all those interested in house-buying for any reason in Santa Cruz.

📊 SFR Sales and Costs
📊 Monthly Statistics
📊 Market Competition

SFR Sales and Costs

Market Report Santa Cruz: SFR Sale and Cost

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As mentioned earlier, the major part of the report is based on SFR sales. What is SFR? SFR is basically the pronunciation of Single Family Residences; the only special thing about them is that they can be rented out. As Single Family Homes have ample space compared to apartment places, they can be divided into independent units and then rented out for extra money.

Why are SFR homes better? Well, there are multiple reasons but the basic one is that they provide privacy in addition to a place that can be rented out. The space and independent units provide you with your private space as well as the renter. They are affordable as well as perfect for bigger families. This is what makes them better and high in demand.

Monthly Statistics

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The SFR homes discussed in the monthly report are basically pre-built and owned in the single-family house category. This category excludes newly constructed houses.

The sales reported by the California Association of Realtors represent stats that include the differences created in one year of sales. This discovery will not be limited to SFR home listings but will go forward to include prices and sales as well.

Compare the Monthly Statistics of Bakersfield by reading this article.

Active Listings

According to the monthly market report, Santa Cruz, California has total active listings of 69 SFR homes for the month of June 2023.

In relation to the previous year, the report sheds light on the decrease of almost 9.2% of listings. The number of listings presently is already less compared to other areas of the state but it is explicit that this number has lowered even more in the last year.

Existing SFR Home Sales

Another noteworthy statistic in the report is the amount of existing SFR home sales. For June this year, the report gives a stat of just 34 SFR homes sold. However, a decrease of 5.6% is given for the last year. This means the houses sold are lesser than in the past year by a percentage of 5.6.

Existing SFR Median Price

What is the median value? It is the middle value between all the values when put in ascending order. Basically the average price per house sold.

The values at the left side are lower and on the opposite end are the higher values. The same definition is used to calculate the median price for SFR houses in the current report. Simply put all prices in ascending order and then pick the middle price.

The current SFR median price for June 2023 is calculated similarly and turns out to be 1.58 million dollars. The existing price is lowered by 3.9% and shows the decrease that occurred in one year.

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Market Competition

To accurately find out the market competition in a monthly report, one has to consider three main things which are median days, sale-to-list price percentage, and last but not the least the active listings’ percentage.

Starting with median days, they tell you about the average number of days a property was listed. Only those days are counted when the property actually remained on the market before being sold. In the current report for June, the number of median days in Santa Cruz remains 9.

Next up is the Sale-to-list price percentage. It is crucial for market competition calculation. It is simple to compute all you need to do is find out the difference between the sale price and the real listed price of the SFR house. In June 2023 the sale-to-list price percentage is at 102.4%. This means the houses were sold for more than they were listed for.

Lastly, the percentage of active listings plays an important role in market competition. This percentage is responsible for showing the decrease in the prices of the properties’ active listings.

This is in relation to reduced pricing. In June 2023 % of Active Listings with Reduced Prices remained at 34.8 percent. This means there were 34.8%$ properties with lower prices in the active listings.

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Also, check out the monthly report for Kern County.

Wrapping up

In conclusion, it is clear that the monthly market report of June 2023 was detailed and adequately quantitative showing exact facts and figures for Santa Cruz SFR houses.

The California Association of Realtors has outdone itself in providing accurate information for its members to facilitate the smooth running of their real estate business.

Furthermore, in this market report for Santa Cruz, it’s obvious that their involvement in maintaining the real estate property rights of a person is commendable.

The report of Santa Cruz June 2023 is not an individual one but rather one of the series of excellent reports generated by the association from various parts of the Californian state.

It shows different dimensions for listings that are required including sales, active listings median pricing, and market competition. Not only this but an active comparison has also been drawn with the past year’s figures.

Analyzing the monthly report as is discussed in this blog, it is clear that in Santa Cruz, California the SFR homes have lost in terms of sales and pricing compared to the previous year.

The percentages are all negative as shown for the month of June 2023. Moreover, the active listings and market competition statistics are encouraging in terms of figures and the information proves handy for calculating median days as well as the reducing prices percentage.

Lastly, all the figures given paint a handy picture for running a business according to the information given and can really help out real estate businessmen.

Monthly Market Report June 2023- Santa Cruz Real Estate

Table of Contents

SFR Sales and Costs