The Aptos real estate market, part of the larger Santa Cruz County housing market, is starting to show signs of strength and improvement in the most recent tracking period. The housing market had an impressive showing in the month of May, with the most homes changing hands since the peak of the market in 2006. The number of sales, 160, was still substantially short of the 200 property a week high reached during the apex of the market. Only a slim minority, less than five percent, of homes sold topped the one million dollar mark. About 40 percent of sales involved bank-owned homes and short sales in santa Cruz where the lender accepts less than what is owed. In the entire Santa Cruz region, including Aptos, about forty percent of the housing market was short sales or foreclosures. However, one particular expert in the area reported several high-end transactions, none of which involved foreclosures or distressed properties. Essentially, the Aptos housing market is rebounding from a bottom reached earlier this year, although it is still well short of earlier highs.
Aptos houses for sale and condominiums for sale should benefit from an effort to boost tourism. The tourist sector is one of the largest in the Santa Cruz region, and is quite important to the overall economy of the region. According to a June 22, 2010 article from KION 46 News, “They also beefed up their internet ads, offering free trips to Santa Cruz on their website, ‘Occupancy is at an all time low in about 20 years. In 2009 we ended the year at 51% that's 5-1 in Santa Cruz County, that's not good. So we knew coming into the spring that we needed to be extra aggressive,’ Ivy explained. Lodging sites and some local businesses are footing the bill for the ads, buying into to the theory you have to give cash to make cash, ‘That means were focusing those dollars on the overnight business.’ Closing the sale is a big deal in this county, considering the average 3 day stay brings in $1800, totaling $650 million a year countywide.”