Q2 2021 Market Report | Santa Cruz County - Brian Pybas

2021 Q2 MARKET REPORT

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

Aptos Capitola La Selva Beach Santa Cruz Scotts Valley Soquel

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

A P T O S M A R K E T U P D AT E

SALES BY SEGMENT

A

s we have seen over the past few quarters, there continues to be a major shift in the composition of sales under $1 million, which made up 36% of the sales last year, and now only makes up 20% of the market. While the average sale price dipped slightly after three major gaining quarters, the number of sales increased dramatically as demand remains high, leaving us with an 81.8% increase in volume quarter over quarter. This demand is supported by the 13 average days on market through the second quarter, down 70% from Q1.

1% 4%

$1,545,411

11% <$1M | 28 $1M-2M | 90 $2M-3M | 16 $3M-5M | 6 $5M+ | 2

AV E R AG E S E L L I N G P R I C E

2.1% vs Q1 2021 24.2% vs Q2 2020

$140.6M

91

13

SALES VOLUME

UNITS SOLD

D AY S O N M A R K E T *

81.8% vs Q1 2021 71.3% vs Q2 2020 2

63%

20%

85.7% vs Q1 2021 37.9% vs Q2 2020

69% vs Q1 2021 40.9% vs Q2 2020

2021 Q2 MARKET REPORT

Aptos Average vs Median Sales

Days on Market*

$1.6M

50

37.5

$1.3M

25

$1M 12.5

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Q2 2020

Closed Sales by Quarter

Months of Available Inventory

Q4 2020

Q1 2021

Average

* DOM count was suspended March 17th - May 16th 2020 due to COVID-19

110

3

Q3 2020

Q2 2021

Median

Closed Sales Volume by Quarter $160M

88 $120M

2.25

66 $80M

1.5

44

0.75

$40M

22

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

3

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

C A P I T O L A M A R K E T U P D AT E

SALES BY SEGMENT

A

fter trailing many of the other areas over the past year due to limited inventory and sales, Capitola had a breakout quarter. Average sales price and units sold rose 33.8% and 90% respectively. This has bumped the average sale price in Capitola to a substantially higher mark than was reached just prior to the pandemic in 2019. For the year, Capitola’s avg sale price was $1.75 million, a 30% increase from the 2019 number mentioned. Additionally, for the quarter it reached $1.925 million showing the trend is continuing upward.

55% 10% 7%

$1,925,266

<$1M | 3 $1M-2M | 16 $2M-3M | 8 $3M-5M | 2 $5M+ | 0

AV E R AG E S E L L I N G P R I C E

33.8% vs Q1 2021 62.5% vs Q2 2020

$36.6M

19

11

SALES VOLUME

UNITS SOLD

D AY S O N M A R K E T *

154.2% vs Q1 2021 285.9% vs Q2 2020 4

28%

90% vs Q1 2021 137.5% vs Q2 2020

71.1% vs Q1 2021 57.7% vs Q2 2020

2021 Q2 MARKET REPORT

Capitola Days on Market*

Average vs Median Sales

40

$2M

30 $1.57M

20

$1.13M

10

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2020

Q2 2021

Months of Available Inventory

Q4 2020

Average

* DOM count was suspended March 17th - May 16th 2020 due to COVID-19

6

Q3 2020

Closed Sales by Quarter 30

Q1 2021

Q2 2021

Median

Closed Sales Volume by Quarter $40M

4.5

$30M 20

3

$20M

10 1.5

$10M

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

5

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

L A S E LVA B E A C H M A R K E T U P D AT E

SALES BY SEGMENT

I

t was another slow quarter in La Selva Beach for number of sales due to the small nature of the market. With limited homes available for sale, and a lower number of ocean view properties selling over the past few quarters, we saw reductions in almost all metrics covered. Despite this, days on market are at just 6 days, which tells you that demand this area is not the limiting factor.

20% 80%

$1,120,667

<$1M | 2 $1M-2M | 8 $2M-3M | 0 $3M-5M | 0 $5M+ | 0

AV E R AG E S E L L I N G P R I C E

16% vs Q1 2021 8.7% vs Q2 2020

$3.36M

3

6

SALES VOLUME

UNITS SOLD

D AY S O N M A R K E T *

64% vs Q1 2021 45.2% vs Q2 2020 6

57.1% vs Q1 2021 40% vs Q2 2020

91.9% vs Q1 2021 81.3% vs Q2 2020

2021 Q2 MARKET REPORT

La Selva Beach Days on Market*

Average vs Median Sales

80

$1.7M

60 $1.37M

40

$1.03M

20

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2020

Q2 2021

Closed Sales by Quarter

Months of Available Inventory

Q4 2020

Average

* DOM count was suspended March 17th - May 16th 2020 due to COVID-19

15

5

Q3 2020

Q1 2021

Q2 2021

Median

Closed Sales Volume by Quarter $18M

$14M

3.75

10

$9M

2.5

5 1.25

$5M

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

7

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

S A N TA C R U Z M A R K E T U P D AT E

SALES BY SEGMENT

A

s with many other areas, we are continuing to see the breakdown of properties selling under $1 million eroding. Currently only 17% of sales in Santa Cruz were under $1 million when they made up 41% of the market in 2020. Months of inventory has held the line over the last 2 quarters at 1.2 months, despite a 59.6% increase in units sold.

This is good news in that we are seeing an increase in the number of properties coming to market, but they are selling just as fast, leaving the market with continuing low inventory. With substantial increases in sales price and number of units sold, sales volume has clearly reached its highest point in the past 2 years.

$1,649,406

0.3% 5%

AV E R AG E S E L L I N G P R I C E

15.6% vs Q1 2021 39.5% vs Q2 2020

11% <$1M | 51 $1M-2M | 199 $2M-3M | 32 $3M-5M | 14 $5M+ | 1

$300.2M

182

14

SALES VOLUME

UNITS SOLD

D AY S O N M A R K E T *

84.5% vs Q1 2021 111.5% vs Q2 2020 8

17%

67%

59.6% vs Q1 2021 51.7% vs Q2 2020

44% vs Q1 2021 17.6% vs Q2 2020

2021 Q2 MARKET REPORT

Santa Cruz Average vs Median Sales

Days on Market*

$1.7M

26

20.8

$1.37M 15.6

10.4

$1.03M 5.2

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Q2 2020

Q3 2020

Q1 2021

Average

* DOM count was suspended March 17th - May 16th 2020 due to COVID-19

Months of Available Inventory Closed Sales by Quarter

2.4

Q4 2020

190

1.8

Q2 2021

Median

Closed Sales Volume by Quarter $400M

$300M 126.667

1.2

$200M

63.333

$100M

0.6

Q1

Q1

Q2

2020

Q3

Q4

2021

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

9

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

S C O T T S VA L L E Y M A R K E T U P D AT E

SALES BY SEGMENT

A

fter a big move upward in the average sales price for Q1, Scotts Valley continued this trend with a further 6.7% increase in Q2 to $1,499,719. This marks an all time high for both average and median sales price in this market. As with Santa Cruz, sales under $1 million have eroded from 41% to 18% year over year. Average days on market are down 39.3% from Q1 to just 17 days in Q2 showing the interest in the area continues to increase.

2%

$1,499,719

12% <$1M | 16 $1M-2M | 60 $2M-3M | 11 $3M-5M | 2 $5M+ | 0

AV E R AG E S E L L I N G P R I C E

6.7% vs Q1 2021 35.6% vs Q2 2020

$78M

52

17

SALES VOLUME

UNITS SOLD

D AY S O N M A R K E T *

63.2% vs Q1 2021 193.7% vs Q2 2020 10

67%

18%

52.9% vs Q1 2021 116.7% vs Q2 2020

39.3% vs Q1 2021 112.5% vs Q2 2020

2021 Q2 MARKET REPORT

Scotts Valley Days on Market*

Average vs Median Sales

40

$1.5M

32 $1.23M

24

16 $0.97M

8

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2020

Q2 2021

Months of Available Inventory

Q4 2020

Average

* DOM count was suspended March 17th - May 16th 2020 due to COVID-19

2

Q3 2020

Closed Sales by Quarter 60

Q1 2021

Q2 2021

Median

Closed Sales Volume by Quarter $80M

1.5

$60M 40

1

$40M

20 0.5

$20M

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

11

831.624.2300 montereycoastrealty.com Dolores and Seventh Carmel-by-the-Sea

S O Q U E L M A R K E T U P D AT E

SALES BY SEGMENT

T

he average and median sales price rebounded after a slight pull back in Q1 to $1,541,043 and $1,312,000 respectively.

This was one of the best quarters over the past two years for Soquel, with the increase in average sales price and number of sales contributing to a 20% increase in sales volume quarter over quarter. Days on market was reduced to 17 days, a more representative value of the times compared to 50 in Q1. It is a good sign that MOI has increased from just .3 months to 1.1, however this remains an extremely restricted market.

70% 16% 11%

$1,541,053

3%

AV E R AG E S E L L I N G P R I C E

14.5% vs Q1 2021 25.2% vs Q2 2020

$29.3M

19

17

SALES VOLUME

UNITS SOLD

D AY S O N M A R K E T *

20.9% vs Q1 2021 69.9% vs Q2 2020 12

<$1M | 6 $1M-2M | 26 $2M-3M | 4 $3M-5M | 1 $5M+ | 0

5.6% vs Q1 2021 35.7% vs Q2 2020

66% vs Q1 2021 240% vs Q2 2020

2021 Q2 MARKET REPORT

Soquel Days on Market*

Average vs Median Sales

50

$1.6M

40

$1.3M 30

20

$1M 10

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2020

Q2 2021

Closed Sales by Quarter

Months of Available Inventory

Q4 2020

Average

* DOM count was suspended March 17th - May 16th 2020 due to COVID-19

30

3

Q3 2020

Q1 2021

Q2 2021

Median

Closed Sales Volume by Quarter $32M

$24M

2.25

20

$16M

1.5

10 0.75

$8M

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

Q1

Q2

2020

Q3

Q4

2021

13

2021 Q1 MARKET REPORT

Brian Pybas REALTOR®

831.594.9402

Brian@MontereyCoastRealty.com DRE#02003077