October 2016 - Condo/Townhome Sales Mixed in Northern California Fall Housing Markets

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MLSListings Silicon Valley and Coastal Regions Housing Market Overview

(Monterey, San Benito, San Mateo, Santa Clara, and Santa Cruz Counties)

Condo/Townhome Sales Mixed in Northern California Fall Housing Markets

Sales were mixed in the five MLSListings counties in October. San Mateo County sales remained flat to last year, followed by Monterey County up 22%, while Santa Cruz County grew 5%. San Benito sales were down 67% on one sale in October compared to three last year, and Santa Clara County sales dropped 2%. Compared to September, sales dropped 500% in San Benito, 13% in Santa Cruz, and 8% in Santa Clara Counties, while the counties of Monterey grew 21% and San Mateo rose 6%.


Condo/townhome year-over-year inventory grew 45% in San Benito, 24% in Santa Cruz, 10% in Santa Clara, and 3% in both Monterey and San Mateo Counties. Compared to September 2016, inventory grew 31% in San Benito, but dropped 17% in Monterey, 15% in Santa Cruz, 13% in Santa Clara, and 10% in San Mateo Counties.


Compared to October 2015, median price remained positive in all counties: Monterey increased 15%, San Benito 12%, Santa Clara and Santa Cruz grew 2%, with San Mateo up 1%. Compared to September 2016, median price grew 3% in Santa Cruz and 1% in Monterey Counties, was flat in both San Benito and Santa Clara Counties, and dropped 1% in San Mateo County.


Year-over-year average days on market (DOM) dropped 54% in Monterey and 34% in Santa Cruz Counties, while growing 567% in San Benito County, 21% in San Mateo County, and 19% in Santa Clara County. Compared to last month, DOM grew 75% in San Benito, 24% in Monterey, 21% in Santa Cruz, and 12% in Santa Clara Counties while remaining flat in San Mateo County.

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Data supplied is for MLSListings Inc five home counties: Monterey, San Benito, San Mateo, Santa Clara and Santa Cruz. MLSListings data is tabulated the third of every month to the third of the following month; primarily to account for late corrections and additions by agents. These updates are often not included in most market reports. The Market Indicators Report reflects the most current information on the date the report is generated.

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