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Aptos Times - January 2018

January 15 2018
January 15 2018

2017 Real Estate sales transactions were flat compared to 2016, but the Median Sales Price jumped significantly. Santa Cruz County Median Home price is now $840K, a 7% increase over 2016. In Aptos, the Median Home price rose 16% from $865K in 2016 to $1,000K (yup, that is $1 million dollars!). Condo prices went up 18% and Townhome prices went up 4%.

The highest sale was $5.7M - 618 Beach Drive, 4Bed/3Ba/2192SF. I represented the Buyers on the highest non-beachfront sale; 631 Quail Run sold for $3.1 million –a bank-owned property with 6Bed/10Ba/11785SF on 68 acres above the Aptos Post Office.  10 homes sold $2-$3M, 21 sold $1.5-$2.0M, 113 sold $1.0-$1.5M, 87 sold $800K-$1M, and 57 sales were under $800,000. The lowest sale was $405K for a geodesic dome at 744 Loma Prieta, 2Bed, 1.5Ba, 1318SF.

As of 1/04, there are 29 homes on the market in Aptos, about one-month’s inventory. So it is a strong Seller’s Market and your home may very well be worth more than you think.

The Aptos Village (theaptosvillage.com) will soon release 33 Phase I homes. Prices are not yet announced, but floor plans are on the website. Check website for updates.

The Feds did raise the interest rate another .25% on 12/13/2017, but so far, mortgage rates remain at historical lows. Bankrate.com on 1/04/18 quotes 4.25% for a 30-year fixed. A year ago the rate was 4.30%. Buyers, you can still afford the mortgage payment.

The new tax laws impact many; Federal income tax deduction is capped at no more than $10,000 for the total of all local/state income, property and sales taxes.  Mortgage interest deduction is capped at at $750,000.

The one constant I know is that Aptos is a fabulous place to live! I’m hopeful for a wonderful 2018. Happy New Year to all!


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Amelie Down

December 13, 2018 2:50 AM

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