May 2025 Santa Cruz Market Report

What's in the Sa

Pricing Trends & Buyer Demand

Single-Family Homes: The median sales price decreased to $1 27M in April 2025, up from $1 33M in April 2024, showing steady demand

Condos & Townhomes: The median sales price rose significantly to $858K, up from $857 5K last year, indicating strong buyer interest in this segment

Market Speed & Competition

Single-Family Homes: Homes are taking slightly longer to sell, with an average of 29 days on market, down from 33 days last year

Condos & Townhomes: The average days on market slightly decreased to 30 days, compared to 31 days last year, suggesting steady buyer activity.

Overbidding Trends: Single-family homes: Selling at 100.7% of list price, down from 101% last year, meaning sellers may need to be more flexible on price.

Condos & townhomes: Selling at 100.7% of list price, up from 100.1%, showing strong competition for these properties.

Inventory & Market Conditions

Single-Family Homes: 33 months of inventory, indicating a more balanced market

Condos & Townhomes: 55 months of inventory, suggesting a tighter market for buyers

266 New Listings

132 Sold Listings

3.3 Months of Inventory

$1.27M

Median Sale Price

100.7%

Median Sale vs List Price

29

Avg Days on Market

Apr2024May2024Jun2024 Jul2024Aug2024Sept2024Oct2024Nov2024Dec2024Jan2025Feb2025Mar2025Apr2025

Single Family Homes

The median sales price has decreased from $1 33 million in April 2024 to $1 27 million in April 2025

Condos & Townhomes

The median sales price has increased from $857 5K in April 2024 to $858K in April 2025

Single Family Homes

The average days on market was 33 days last April 2024 and is now 29 days in April 2025

Condos & Townhomes

The average days on market last April 2024 was 31 days and is now at 30 days in April 2025

Single Family Homes

The overbid percentage is up from 100 1% last April 2024 to now 100 7%% in April 2025

Condos & Townhomes

The overbid percentage last April 2024 was 99.8% and decreased to 99.6% in April 2025.

What's in the Sa

Pricing Trends & Buyer Demand

Single-Family Homes: The median sales price increased to $2 1M in April 2025, up from $1 99M in April 2024

Condos & Townhomes: The median sales price fell to $1 03M, marking a significant yearover-year decrease from $1 08M

Market Speed & Competition

Single-Family Homes: Properties are selling faster, with an average of 14 days on the market, up from 13 days last year

Condos & Townhomes: The average days on market decreased slightly to 20 days, compared to 16 days last year

Overbidding Slightly Down: Single-family homes are selling at 107 1% of the list price, compared to 110 4% last year

Condos & townhomes: Selling at 102 8% of the list price (down from 106% last year)

Inventory & Market Conditions

Single-Family Homes: 17 months of inventory, maintaining strong competition among buyers

Condos & Townhomes: 28 months of inventory, providing more options and slightly more negotiating power for buyers

What This Means for Buyers & Sellers

For Sellers:

Single-family homes are in high demand: If you’re thinking about selling, now is a great time homes are selling in an average of 14 days, with multiple offers pushing sale prices above asking

Pricing strategy is crucial: With overbidding still strong, setting the right price can attract multiple offers and drive competition. Even condos and townhomes are selling at 107.1% of the list price, showing steady buyer demand.

Inventory remains relatively low: While new listings are hitting the market, supply is still below balanced levels, making it an opportune moment to sell before competition increases

Marketing matters: Buyers are still being selective, so staging, high-quality photos, and strategic pricing can help maximize your home's value and attract the right buyers.

For Buyers:

Single-family homes are competitive: Prices have increased, and homes are selling fast with a 107.1% sale-to-list price ratio. This means buyers should be prepared to act quickly and bid aggressively to secure a home

Condos & townhomes offer more opportunity: With a 2 8 month supply of inventory, buyers may have a bit more negotiating power compared to single-family homes However, prices have also risen, so waiting too long could mean paying more later. Be prepared for overbidding: Even condos and townhomes are selling at 102.8% of list price, titive.

a favorable interest rate and dability

1,365 New Listings

836 Sold Listings

1.7 Months of Inventory $2.1M Median Sale Price

Clara at a

671 New Listings

329 Sold Listings

2.8 Months of Inventory

$1.03M

Median Sale Price

102.8%

Median Sale vs List Price

20 Avg Days on Market

What's in the M

Pricing Trends & Buyer Demand

Single-Family Homes: Median sale price dropped to $909K, down from $970K in April 2024. Condos & Townhomes: Values are up! Median sale price rose to $700K, up from $617K last year.

Market Speed & Competition

Single-Family Homes: Homes are sitting longer 40 days on market, up from 34 days in April 2024

Condos & Townhomes: DOM climbed to 53 days, compared to 41 days last year

Sale-to-List Ratios: Sellers received 99% of list price for single-family homes and 98 2% for condos/townhomes both slightly softer than last year’s overbidding trends

Inventory & Market Conditions

Single-Family Homes: With 257 new listings, 177 homes sold, and 2.7 months of inventory, the market remains moderately competitive

Condos & Townhomes: 36 new listings, 27 sold, and 29 months of inventory suggests slightly more breathing room for buyers

36 New Listings

27 Sold Listings

2.9 Months of Inventory

$700K

Median Sale Price

98.2%

Median Sale vs List Price

53 Avg Days on Market