2022 Q1 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
T
he Aptos market normally sees a lower number of sales in Q1 when compared to the rest of the year, but due to minimal inventory entering the 1st of the year, we saw this number drop off another 8% versus Q1 2021 to 45. As demand kept pace with recent quarters, we in turn saw days on market drop 34% from the previous quarter to 18 days, and sale prices increase significantly. The average sale price rose 6.5% from a strong previous quarter and an 18.6% from Q1 of last year. Similar moves were seen in the median price with those figures showing 12.3% and 19.2%, respectively.
$1,872,214
2.2%
11% 7%
22% <$1M | 5 $1M-2M | 26 $2M-3M | 10 $3M-5M | 3 $5M+ | 1
AV E R AG E S E L L I N G P R I C E
7% vs Q4 2021 19% vs Q1 2021
$84.25M
45
18
SALES VOLUME
UNITS SOLD
D AY S O N M A R K E T
37% vs Q4 2021 9% vs Q1 2021 2
58%
41% vs Q4 2021 8% vs Q1 2021
38% vs Q4 2021 57% vs Q1 2021
2022 Q1 MARKET REPORT
Aptos Average vs Median Sales
Days on Market
$1.9M
50
37.5
$1.5M
25
$1.1M 12.5
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Average
Months of Available Inventory 3
Closed Sales by Quarter
Q1 2022
Median
Closed Sales Volume by Quarter $150M
100
80 2.25
$113M
60 1.5
$75M 40
0.75
$38M 20
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
2022
Q4
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
C
apitola was one of the few markets which saw an increase in the average sale price of 11.9% to $1,876,682, while seeing the median sale price fall 14.3% to $1,500,000. This was driven by two sales above the $3 million range, while the rest of the homes sold in the low to mid million range. Days on market fell to its lowest point over the last year at just 9 days, which is down 68% from Q4. This is likely caused by the low inventory we had entering the quarter and the higher volume of active listings in the $1-2 million range.
9% <$1M | 1 $1M-2M | 8 $2M-3M | 1 $3M-5M | 1 $5M+ | 0
AV E R AG E S E L L I N G P R I C E
12% vs Q4 2021 30% vs Q1 2021
$20.64M
11
9
SALES VOLUME
UNITS SOLD
D AY S O N M A R K E T
76% vs Q4 2021 43% vs Q1 2021 4
9% 9%
$1,876,682
73%
57% vs Q4 2021 10% vs Q1 2021
68% vs Q4 2021 76% vs Q1 2021
2022 Q1 MARKET REPORT
Capitola Days on Market
Average vs Median Sales
40
$2M
30 $1.57M
20
$1.13M
10
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q4 2020
Q1 2022
Q1 2021
Q2 2021
Average
Months of Available Inventory 2.8
Closed Sales by Quarter
Q3 2021
Q4 2021
Median
Closed Sales Volume by Quarter $40M
30
2.1
$30M 20
1.4
$20M
10 0.7
$10M
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
2022
Q4
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
W
hile La Selva Beach saw many of the same trends shown in other markets, the limited number sales due to it being a smaller market provide for larger swings quarter to quarter. This is seen in the average and median sale price versus Q4 2021, which rose 40% and 38.3%, respectively. With an average number of sales versus the previous year at just 5, Q1 2020 has already accounted for 38% of the total volume for 2021. Days on market remain low at just 14 days, though the market did manage to gain a minimal amount of inventory over the quarter to finish with 1 month of inventory.
$2,441,600
33% 17% <$1M | 0 $1M-2M | 3 $2M-3M | 2 $3M-5M | 0 $5M+ | 1
AV E R AG E S E L L I N G P R I C E
40% vs Q4 2021 83% vs Q1 2021
$12.2M
5
14
SALES VOLUME
UNITS SOLD
D AY S O N M A R K E T
134% vs Q4 2021 31% vs Q1 2021 6
50%
67% vs Q4 2021 29% vs Q1 2021
7% vs Q4 2021 81% vs Q1 2021
2022 Q1 MARKET REPORT
La Selva Beach Days on Market
Average vs Median Sales
140
$2.6M
105
$1.97M
70
$1.33M 35
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q1 2021
Q2 2021
Q3 2021
Average
Months of Available Inventory 5
Closed Sales by Quarter 15
Q4 2021
Q1 2022
Median
Closed Sales Volume by Quarter $16M
3.75
$12M
10
2.5
$8M
5 $4M
1.25
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
2022
Q4
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
T
he Santa Cruz market, which has been one of the most active and desirable markets in the county over the past years, is yet another where the lack of inventory continues to plague the market. Finishing the quarter there were only 98 sales, the lowest versus any quarter from 2021, which represents a 22% decrease from Q4 and a 14% decrease from last years Q1. Demand has held strong in the face of ever-increasing competition and has led to a 13% increase in average and median sale prices from Q4. Days on market dropped 12% from Q1 and Q4 of 2021 to 22 days, while inventory tightened further to just .7 months of inventory.
8% 19%
$1,912,292
2.0%
9% <$1M | 8 $1M-2M | 60 $2M-3M | 19 $3M-5M | 9 $5M+ | 2
AV E R AG E S E L L I N G P R I C E
13% vs Q4 2021 34% vs Q1 2021
$187.4M
98
22
SALES VOLUME
UNITS SOLD
D AY S O N M A R K E T
12% vs Q4 2021 15% vs Q1 2021 8
61%
22% vs Q4 2021 14% vs Q1 2021
12% vs Q4 2021 12% vs Q1 2021
2022 Q1 MARKET REPORT
Santa Cruz Average vs Median Sales
Days on Market 26
$2M
20.8
$1.57M 15.6
10.4
$1.13M 5.2
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Average
Months of Available Inventory 1.4
Closed Sales by Quarter
Q1 2022
Median
Closed Sales Volume by Quarter $320M
190
1.05
$240M 127
0.7
$160M
63 0.35
$80M
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
2022
Q4
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
S
cotts Valley was another market dealing with constrained inventory in Q1, as it entered the quarter working with just .4 months of inventory. We saw total sales drop off substantially because of this, down just over 50% from both Q4 and Q1 2021. With these inventory constraints, and continued demand, DOM was just 11 days this quarter. Prices soared because of this competition as average and median sale price rose 19.8% and 26.2% versus Q4. Though it does appear that inventory is increasing, these numbers can be a bit deceptive with many actives not currently being available for purchase as they are being pre-marketed.
$1,713,125 AV E R AG E S E L L I N G P R I C E
6% 6%
<$1M | 1 $1M-2M | 14 $2M-3M | 1 $3M-5M | 0 $5M+ | 0
20% vs Q4 2021 22% vs Q1 2021
$27.4M
16
11
SALES VOLUME
UNITS SOLD
D AY S O N M A R K E T
45% vs Q4 2021 43% vs Q1 2021 10
88%
54% vs Q4 2021 53% vs Q1 2021
42% vs Q4 2021 61% vs Q1 2021
2022 Q1 MARKET REPORT
Scotts Valley Days on Market
Average vs Median Sales
28
$1.8M
22.4
$1.43M 16.8
11.2
$1.07M 5.6
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q1 2021
Q2 2021
Q3 2021
Average
Months of Available Inventory 2
Closed Sales by Quarter
Q4 2021
Q1 2022
Median
Closed Sales Volume by Quarter $80M
60
1.5
$60M 40
1
$40M
20 0.5
$20M
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
2022
Q4
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
I
n Soquel we saw the average price pull back 8.8% from a strong Q4 in this category, though it is still up 10% over the 2021 full year average. The number of sales saw a slight uptick from 9 in Q4 to 13 this quarter, however these number are both below average for this market. Days on market saw a slight 3% decrease to 33 days from Q4, though a few outlier properties have skewed this number higher, and a more accurate number would be around 20 days. We exit the quarter in the same situation we entered with just slightly under one month of inventory for buyers to compete over.
$1,754,231
15% <$1M | 0 $1M-2M | 11 $2M-3M | 2 $3M-5M | 0 $5M+ | 0 <$1M
AV E R AG E S E L L I N G P R I C E
9% vs Q4 2021 30% vs Q1 2021
$22.8M
13
33
SALES VOLUME
UNITS SOLD
D AY S O N M A R K E T
32% vs Q4 2021 6% vs Q1 2021 12
85%
44% vs Q4 2021 28% vs Q1 2021
3% vs Q4 2021 34% vs Q1 2021
2022 Q1 MARKET REPORT
Soquel Days on Market
Average vs Median Sales
50
$2M
40 $1.57M
30
20 $1.13M
10
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2021
Q1 2022
Q2 2021
Q3 2021
Average
Months of Available Inventory 1.10
Q4 2021
Q1 2022
Median
Closed Sales Volume by Quarter
Closed Sales by Quarter $60M
30
0.83
$45M
20
0.55
$30M
10 0.28
$15M
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
Q4
2022
Q1
Q2
2021
Q3
2022
Q4
13
2022 Q1 MARKET REPORT
Brian Pybas REALTOR®
831.594.9402
Brian@MontereyCoastRealty.com DRE#02003077