Another month, another all-time high: Home prices in Santa Cruz County hit $1.3 million in May
The median sale price for a single-family home rose to a record $1.3 million countywide in May, and the sale price of a single-family home in the city of Santa Cruz leaped to a record $1.5 million.
Home prices in Santa Cruz County continued an exuberant trend in May, with more broken sales records and more sellers putting homes on the market.
The median sale price for a single-family home rose to a record $1.3 million countywide in May, and the sale price of a single-family home in the city of Santa Cruz leaped to a record $1.5 million, according to real estate data analyst Aculist.
The countywide price for single-family homes was 3.6% higher than the previous month, and more than 50% higher than in May 2020. House prices in the city of Santa Cruz rose 12% month over month, from a previous record high of $1.34 million in April.
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Condominiums and townhomes also leaped in price to a countywide median sale price of $802,500 in May, compared to $709,000 in April.
Sellers increasingly jumped into the hot spring sales season by listing 289 new properties countywide — a four-year high, according to Aculist.
But the trends remain grim for buyers, who continue to face bidding wars and selling prices much higher than already breathtaking listing prices.
Single-family home sales prices averaged 107% of list price countywide last month, with a peak 112% list/price ratio in the city of Santa Cruz.