Q1 2022 Market Report | Santa Cruz County

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