Happy New Year fellow Aptosians!

2015 real estate recap

By RUTH BATES
Broker Associate and MBA
Home values increased significantly in Aptos in 2015. 330 Single Family Homes were sold at an average sales price of $782K (on homes sold below $1 million). 88 homes sold for over $1 million, 94 homes sold at $800K-$1M, 113 homes sold at $600K-$800K and even 33 homes sold below $600K. 59 townhomes (Avg. Sales Price $602K) and 31 condos (Avg. Sales Price $556K) were sold in 2015.

Townhome and condo values increasing
Because house prices have escalated so much, buyers are turning to townhomes and condos and are driving these values up as well. I represented buyers who purchased 7555 Sunset Way #4 for $329,000 in October 2013. In August 2015, the same size and shape unit #1 sold for $455,000 after being bid up from list price $439,000. That’s a 38 percent increase in condo value in two years. In my own Aptos townhome complex, I represented buyers who just paid $727,000 for their unit; highest sales price before this sale was $650,000.

2016 real estate
As of Jan. 21, there are only 24 Active listings in all of Aptos (13 houses, four townhomes, seven condos). This is really, really low inventory and it is totally a “Seller’s Market” right now. The slight interest rate increase did not impact the housing market in any significant way, there are buyers galore. The current stock market instability could impact the housing market this year (less cash buyers?).

Aptos Village breaks ground in 2016
The Aptos Village will offer 72 homes ranging from 1-bedroom lofts to 3 bedroom townhomes. The project is breaking ground shortly and will provide new more affordable home options for Aptos residents. Additionally, stop lights will be built at Trout Gulch/Soquel and Aptos Creek/Soquel and the historic apple barn will become a New Leaf. Phase I home offerings include 6 Cluster homes and 11 townhomes at Granite Way and 17 condos in BLG 3 adjacent to the Village Green, and 7 residential lofts in BLG 7. Pre-sales will being shortly on this project.

Aptos transportation — November ballot initiative
The Regional Transportation commission (RTC) is bringing a 1/2-cent sales tax initiative to the November 2016 ballot to benefit all of Santa Cruz County. The five investment categories are:
• Highway 1 Corridors — 25 percent of funds – three auxiliary lane projects: 41st-Soquel, Bay/Porter-Park, State Park-Park plus two pedestrian over-crossings
• Neighborhood Projects — 30 percent of funds — Local street/road maintenance and repairs, school traffic projects, operational improvements
• Mobility Access — Elderly/Disabled/Vete3rans Paratransit/Bus Service – 16 percent of funds
• Active Transportation (aka Rail Trail) – 15 percent of funds
• Rail Corridor – maintenance and repairs – 14 percent of funds
Transportation projects will create jobs, provide traffic relief, improve neighborhood infrastructure, provide new clean transportation methods and keep fares affordable for seniors and people with disabilities. I encourage all of us to become educated on this subject and to vote in November.
Sadly, we say good-bye to the Aptos Theater where my daughter worked for many years and where I have enjoyed many a movie. Thanks for the memories!
“The only constant in life is change!” And change my friends is something we are going to need/want to get used to here in Aptos. I am excited about most of the new changes (except losing the theater) and look forward to my continued enjoyment of paradise — aka Aptos!