Table Definitions _______________
The price at which 50% of priceswere higher and 50%were lower.
Add all prices and divide by thenumber of sales.
Sales price to list price ratio or theprice paid for the property divided bythe asking price.
Days of Inventory, or how manydays it would take to sell all theproperty for sale at the current rateof sales.
Property under contract to sell thathasn’t closed escrow.
Number of properties actively forsale as of the last day of the month.
Susan Strouse, B.S., M.A.Susan@StrouseRealtyGroup.com(831) 338-6481
In May, notices of default, the first step in the foreclo-sure process, in Santa Cruz County fell 33.3% from theyear before. Notices were down 33.9% from April.Notices of sale, which set the date and time of an auc-tion, and serve as the homeowner's final notice beforesale, were down 56.5% year-over-year, and were down40% from April. After the filing of a Notice of Trustee Sale, there areonly three possible outcomes. First, the sale can becancelled for reasons that include a successful loanmodification or short sale, a filing error, or a legal re-quirement to re-file the notice after extended postpone-ments. Alternatively, if the property is taken to sale, the bankwill place the opening bid. If a third party, typically aninvestor, bids more than the bank's opening bid, theproperty will be sold to the third party; if not, it will goback to the bank and become part of that bank's REOinventory.
In April, cancellations were up 7.4% from April, butdown 32.6% year-over-year.Properties going back to the bank decreased 12.9% inMay from April. Year-over-year, properties going backto the back dropped 47.1%.The total number of properties that have had a notice of default filed decreased by 19.5% in April compared to April 2011. They were up 3.6% from April.The total number of properties scheduled for sale de-clined 7.3% from April, and, were down 13.7% year-over-year.The total number of homes owned by the banks wasdown 6% from April, and down 15.1% year-over-year.Banks now own approximately 422 properties in SantaCruz County.
C o n d o S a l e s M e d i a n & A v e r a g e P r i c e s
Santa Cruz County Condos
-Prices & Sales
(3-month moving average—prices in $000's)
Santa Cruz County Homes:
Year-Over-Year Median Price Change
© 2012 rereport.com
County296,000315,109407018213299.4%8.2%10.5%-9.1%25.0%-31.6% Aptos340,000340,00010411697.4%-14.8%-14.8%0.0%n/a0.0%aptoa,,.....-.Rio del Mar--00000.0%n/an/an/an/an/aScotts Valley297,000351,2205752997.2%9.2%29.2%400.0%-41.7%-50.0%Santa Cruz313,000312,494152460116100.9%9.2%-2.8%7.1%33.3%-18.9%Watsonville235,000211,47051452999.5%66.1%17.2%-44.4%-39.1%-70.6%
Santa Cruz County - June 2012
Condos/Townhomes% Change from Year Before