DECEMBER 2021
Aptos Real Estate Update
Ruth Bates 831.359.2212
ruthbates1@gmail.com CalBRE#01799929
2021 IN REVIEW 289 homes sold in Aptos in 2021, (AVG 24 per month vs. Jan 2022 with only 7 Active Listings on the market as of 1/05). Avg. Sales Price was $1,623,925 vs. $1,384,662 in 2021, a 17.3% increase. Avg. Days on Market was 21. High sale - 638 Beach Drive - $7,899,000, originally listed for $8,999,000 and was on the market for 52 days. Low sale - 114 Don Carlos - $425,000 (a “contractor’s special listed at $300,000 and received 16 all cash offers). Sales mix: >$5M – 4 sales, $2.5-5.0M – 27 sales, $2.0-$2.5M – 24 sales, $1.5-$2.0M – 62 sales, $1.0-$1.5M – 120 sales, <$1M – 52 sales. 31 Condos sold Median List Price $729,000, and Median Sales Price $779,000. 42 Townhomes sold Median List Price of $877,000 and Median Sales Price of $916,056. 15 Mobile homes sold - Medium List Price and Sales Price of $449,000. INFLATION! America closed out 2021 with decadeshigh inflation, both the Consumer Price Index and the Personal Consumption Index climbed to a 39-year high. Consumer inflation saw +6.8% Nov. 21-22. Supply chain issues keep prices high and push inflation. Average new car pricing is up to $46,000 – driven partially by chip shortages. What was a $5000 used car is now more like $8000. Rising rents are a concern across the country. The Feds are expected to raise interest rates three times this year to tame inflation and stop the economy for overheating further. What does this mean for Real Estate in 2022? It could imply downward pressure on pricing, but with so little inventory, I don’t think this will happen in Santa Cruz County. Realtor.com predicts 2.9% growth in price vs.12% in 2021 and an inventory uptick of .3% vs. a downturn of 18% in 2021. I think we will continue to see highly competitive situations and high price points with pricing increasing well over 2.9% this year. Here it will be another year-long Seller’s market. Remember that Prop 19 allows homeowners over 55 to keep their property tax basis when they sell their primary residence and buy another (of equal or lesser value). This applies to moving anywhere in the state of California. You can even buy a higher value home and only pay additional taxes on the incremental amount. Consult your tax account for more detailed information. ——— My favorite 4-letter word is “SOLD”! Call, email, text anytime and Get Results with Ruth!
COMMUNITY NEWS
Westside Trail Wins Two Awards T he City of Santa Cruz Public Works Department has been awarded a 2021 Caltrans Excellence in Transportation Award for its Coastal Rail Trail Segment 7/Phase I project. The project has also been recognized by the American Council of Engineering Companies with a California 2022 Engineering Excellence Merit Award. Sharing in the awards: RRM Design Group, the Santa Cruz County Regional Transportation Commission and Graniterock Construction. “Congratulations to everyone who worked hard to bring this project to the finish line with such measurable improvements for our City,” said Public Works Director Mark Dettle. “It is helping to increase walking, biking and safety in Santa Cruz while reducing carbon emissions.” The paved multi-use trail has more than 800 users a day, he said. Segment 7/Phase 1 cost $6.4 million. It was the second segment of the
The award-winning trail runs 11.2 miles on the Santa Cruz Westside. Monterey Bay Sanctuary Scenic Trail to be constructed. The 12 to 16 feet wide ADA-compliant trail runs 1.2 miles from Natural Bridges Drive to Bay/California streets along the coastal side of the existing rail line. It includes 10 green crossbikes, a 60-foot long steel truss bridge, a 70-foot long soldier pile retaining wall and new parking for vehicles and bikes. The annual Caltrans
Excellence in Transportation Awards are chosen from statewide submissions with one award for each of 11 categories. The Santa Cruz project won in the “Intermodal Transportation” category. Judging criteria included effectiveness in reducing highway congestion/providing options to single-occupancy vehicle use and safety improvements for travelers/workers. The ACEC awards criteria included social economic and sustainable design considerations where solutions produce value to the community environment. n
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SANTA CRUZ COUNTY Paid Advertising
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