The Real Estate Report

David Lyng Real Estate 2170 41st Avenue

Capitola, CA 95010

(831) 588-5145 bjones@davidlyng.com http://www.brandijones.com

CalBRE #01385191

Brandi Jones

Brandi Jones | bjones@davidlyng.com | (831) 588-5145 | http://www.brandijones.com

• The average home sales price fell by 2.1% to$933,854 from $954,296.

• Home sales up by 47.6% to 121 from 82.

• Total inventory* increased 17.0% to 338 from 289.

• Sales price vs. list price ratio increased by 1.8% to100.4% from 98.6%.

• The average days on market dropped by 36.7% to41 from 65.

CONDOMINIUMS Year-Over-Year

• Median condo prices increased by 10.0% year-over-year to $505,000 from $459,000.

• The average condo sales price rose by 12.1% year-over-year to $517,117 from $461,164.

• Condo sales rose by 7.7% year-over-year to 42from 39.

• Total inventory* fell 56.1% year-over-year to 87from 198.

• Sales price vs. list price ratio fell by 0.4% year-over-year to 99.7% from 100.1%.

• The average days on market fell by 46.3% year-over-year to 28 from 52.

Month-Over-Month • Median condo prices improved by 2.0% to

$505,000 from $495,000.

• The average condo sales price fell by 4.2% to$517,117 from $539,885.

• Condo sales up by 44.8% to 42 from 29.

• Total inventory* increased 14.5% to 87 from 76.

After dipping below $700,000 in January, the median price for single-family, re-sale homes jumped in February and March, finishing the quarter at $785,000. That’s the highest the median price has been since November 2005.

The sales price to list price ratio also went back over 100% for the first time since last August.

The median price has been higher than the year before every month but three since July 2012.

MARCH SALES STATISTICS SINGLE-FAMILY HOMES Year-Over-Year

• Median home prices increased by 5.3% year-over-year to $785,000 from $745,500.

• The average home sales price rose by 16.1% year-over-year to $933,854 from $804,512.

• Home sales fell by 9% year-over-year to 121 from133.

• Total inventory* fell 39.3% year-over-year to 338from 557.

• Sales price vs. list price ratio fell by 0.3% year-over-year to 100.4% from 100.7%.

• The average days on market rose by 0.5% year-over-year to 41 from 41.

Month-Over-Month • Median home prices improved by 3.6% to $785,000

from $757,500.

Home Prices Up to Begin Year

• Sales price vs. list price ratio increased by 0.5% to99.7% from 99.2%.

• The average days on market dropped by 56.7% to28 from 65.

* Total inventory is active listings plus contingent or pendinglistings. Active listings do not include contingent listings.

_____________________ VISIT

http://www.brandijones.com

for a free on-line market analysis of your property. You

can also perform your own personal search of properties

for sale.

Mar 16 Feb 16 Mar 15Median Price: $785,000 $757,500 $745,500

Average Price: $933,854 $954,296 $804,512

Units Sold: 121 82 133

Pending Sales: 79 78 208

Activ e Listings: 259 211 349

Sale/List Price Ratio: 100.4% 98.6% 100.7%

Day s on Market: 41 65 41

Day s of Inv entory : 64 72 79

Mar 16 Feb 16 Mar 15Median Price: $505,000 $495,000 $459,000

Average Price: $517,117 $539,885 $461,164

Home Sales: 42 29 39

Pending Sales: 23 22 56

Activ e Listings: 64 54 142

SP/LP Ratio 99.7% 99.2% 100.1%

Day s on Market: 28 65 52

Day s of Inv entory : 46 52 109

Trends at a Glance(Single-family Homes)

(Tow nhomes/Condos)

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Santa Cruz County Homes: Momentum

Median Price Sales Pending © 2016 rereport.com

Local Market Trends April/May 2016 Santa Cruz County

Brandi Jones bjones@davidlyng.com (831) 588-5145

The chart above shows the National monthly average for 30-year fixed rate mort-gages as compiled by HSH.com. The aver-age includes mortgages of all sizes, includ-ing conforming, "expanded conforming," and jumbo.

YELLEN TALKS DOWN RATES April 1, 2016 -- Apparently wary financial markets took the Fed's most recent message to heart this week, as Federal Reserve Chair Janet Yellen ex-pounded on the reasons why the Fed is likely to keep rates down for a longer period of time.

While reiterating that the Fed will make policy choices based upon inbound economic data, she made it fairly clear that recent global risks to eco-nomic growth bear consideration, intimating that the Fed is in a better position to address too-rapid growth and inflation than to manage a situation where growth has faltered. As such, it's better to err on the side of caution, leaving rates lower for longer.

Low interest rates help to spur economic activity by encouraging (among other things) borrowing by businesses to invest in expanding operations. With domestic economic growth yet fairly soft and infla-tion still below the Fed's 2 percent limit, the Fed has plenty of space to be patient in lifting rates toward more normal levels. Current expectations are that the Fed will lift the federal funds target rate twice this year, with the next change probably still months away from happening. For would be homebuyers, this is good news: Provided there is housing inven-

tory available to buy, low mortgage rates should help promote a solid spring homebuying season.

HSH.com's broad-market mortgage tracker -- our weekly Fixed-Rate Mortgage Indicator (FRMI) -- found that the overall average rate for 30-year fixed-rate mortgages eased by two basis points (.02 per-cent), slipping back to an average 3.78 percent. The FRMI's 15-year companion found a little less space to fall, with this week's average trimming just a single basis point off of last week's tally to ease to an aver-age rate of 3.16 percent. Popular with first-time homebuyers, rates on fully-insured FHA-backed 30-year FRMs remain considerably below their Fannie and Freddie counterparts and declined more than they did, falling by a five basis points to land at an average interest rate of 3.59 percent. Meanwhile, the overall 5/1 Hybrid ARM continued to edge closer to the 3 percent mark, easing by one one-hundredth of one percent to land at 3.01 percent for the week. At present, all rates remain closer to 2016 lows than highs as we begin the second quarter of the year.

Mortgage Rate Outlook

2 Local Market Trends | | April/May 2016 Santa Cruz County

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Santa Cruz County Homes - Median, Average & Sales(3-month moving average—prices in $000's)

© 2016 rereport.com

Cities Median Average Sales Pend Inv DOI SP/LP Med Ave Sales Pend' Inven

SZC 785,000$ 933,854$ 121 79 259 64 100.4% -7.7% 1.5% -15.5% -12.6% -14.6%

Aptos 829,000$ 946,161$ 20 8 37 55 98.6% -5.3% -3.0% 5.3% -69.2% -22.9%

Boulder Creek 422,500$ 420,000$ 4 6 18 135 100.2% 103.0% 231.6% 0.0% -25.0% -62.5%

Capitola 1,545,000$ 2,592,000$ 4 3 6 45 90.9% 103.0% 231.6% 0.0% -25.0% -62.5%

Felton 650,000$ 593,182$ 11 8 14 38 101.4% n/a n/a n/a n/a -88.9%

Soquel 765,000$ 823,750$ 4 2 8 60 102.2% -17.7% -9.0% -50.0% -85.7% -38.5%

Scotts Valley 1,050,000$ 1,110,820$ 9 7 28 93 100.6% 1.1% 4.9% 12.5% -46.2% 33.3%

Santa Cruz 824,500$ 1,040,040$ 44 23 69 47 102.1% 2.7% 15.0% -4.3% -23.3% -17.9%

Watsonville 429,950$ 474,939$ 18 13 54 90 100.4% 0.0% 1.5% -10.0% -38.1% 63.6%

Santa Cruz County - March 2016

Single-Family Homes % Change from Year BeforePrices Prices

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30-Year Fixed Mortgage Rates

Table Definitions _______________

Median Price The price at which 50% of prices were higher and 50% were lower.

Average Price Add all prices and divide by the

number of sales.

SP/LP Sales price to list price ratio or the price paid for the property divided

by the asking price.

DOI Days of Inventory, or how many days it would take to sell all the

property for sale at the current rate of sales.

Pend Property under contract to sell that

hasn’t closed escrow.

Inven Number pf properties actively for

sale as of the last day of the month.

Brandi Jones bjones@davidlyng.com

(831) 588-5145

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Santa Cruz County Homes: Year-Over-Year Median Price Change

© 2016 rereport.com

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Santa Cruz County Townhomes: Year-Over-Year Median Price Change

© 2016 rereport.com© 2016 rereport.com

| Santa Cruz County | April/May 2016 3 Local Market Trends

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Santa Cruz County Condos - Median, Average & Sales(3-month moving average—prices in $000's)

© 2015 rereport.com

Cities Median Average Sales Pend Inv DOI SP/LP Med Ave Sales Pend' Inven

County 505,000$ 517,117$ 42 23 64 46 99.7% 10.0% 12.1% 7.7% -58.9% -54.9%

Aptos 566,500$ 558,800$ 10 6 24 72 98.0% 8.4% 7.4% 66.7% 50.0% 71.4%

Boulder Creek 432,000$ 432,000$ 2 0 4 60 98.9% -55.0% -56.2% -71.4% n/a 0.0%

Capitola 430,000$ 433,667$ 3 4 6 60 100.4% 5.6% -5.1% -25.0% 33.3% -40.0%

Scotts Valley 645,000$ 608,162$ 4 3 2 15 97.5% 33.3% 30.3% 0.0% 50.0% -60.0%

Santa Cruz 508,000$ 507,930$ 15 6 17 34 101.4% 11.6% 13.5% 15.4% -33.3% -5.6%

Watsonville 680,000$ 552,800$ 5 3 9 54 98.7% 121.7% 39.7% 25.0% -70.0% -87.1%

Santa Cruz County - March 2016

Condos/Townhomes % Change from Year BeforePrices Prices

THE REAL ESTATE REPORT

Santa Cruz County

This Real Estate Report is published and copyrighted by http://rereport.com. Information contained herein is deemed accurate and correct, but no warranty is implied or given.

Brandi Jones David Lyng Real Estate 2170 41st Avenue Capitola, CA 95010

This is not intended as a solicitation if your home is currently listed.

THE REAL ESTATE REPORT

Santa Cruz County

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Santa Cruz County Homes: Sales Price/Listing Price Ratio

© 2016 rereport.com