Housing crisis: the numbers continue to climb in Santa Cruz
SANTA CRUZ, Calif. (KION-TV) -- According to Zillow, Santa Cruz county's average home is valued at $1,329,546, which is up 2.6% over the past year. Zillow also reports that homes are usually pending at around 19 days.
Data was compiled through August 2024 and showed market trends steadily rising from May 2016 (an average home cost $835,163 at the time) to a major peak in June 2022 (the average cost of a home during that month was $1,417,631). According to research compiled by Zillow, the current housing market is starting to level off.
The average cost of a home can also be broken down by zip code. Zillow reported that the 95062 (midtown Santa Cruz) zip code had an average of $1,311,444, whereas the 95018 (serving Felton, Zayante, Mount Hermon, Lompico and Olympia) zip code had a $831,502 average home cost.
Other zip codes included 95060 (Santa Cruz) at $1,355,895; 95065 (Live Oak area) at $1,325,932; 95066 (Scotts Valley and Felton areas) at $1,301,166; 95073 (Soquel area) at $1,292,844; and 95010 (Capitola) at $1,205,353.
Zillow also reported that the five fastest growing home rates in Santa Cruz (from the slowest to fastest growing prices) included Aptos, Capitola, Scotts Valley, Soquel and Santa Cruz.
