December 2016 - Condo/Townhouse Sales a Mixed Bag in Key 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/Townhouse Sales a Mixed Bag in Key Housing Markets

Condo/townhouse year-over-year inventory grew 38% in San Benito and 24% in Santa Cruz Counties, but fell 15% in Monterey and 1% in San Mateo Counties. Santa Clara County remained flat. Compared to November 2016, inventory dropped across the board: 55% in Santa Clara, 45% in San Mateo, 33% in Santa Cruz, 27% in San Benito, and 19% in Monterey Counties.


Sales were mixed in December 2016, up 50% in Monterey, 17% in San Benito, and 3% in Santa Cruz Counties, but fell 16% in Santa Clara and 10% in San Mateo Counties. Compared to November 2016, sales dropped 26% in Santa Clara, 22% in Santa Cruz, and 6% in San Mateo Counties. San Benito County grew 57% and Monterey County was up 22%.


Compared to December 2015, median price rose 31% in Monterey, 9% in Santa Cruz, 3% in Santa Clara, and 2% in San Benito Counties. San Mateo County dropped 6%. Compared to November 2016, median price grew 6% in Santa Cruz County, but fell 21% in San Benito, 17% in Santa Mateo, 6% in Monterey, and 3% in Santa Clara Counties.


Year-over-year average days on market (DOM) dropped 39% in Monterey and 34% in Santa Cruz Counties, while growing 155% in San Benito, 54% in San Mateo, and 29% in Santa Clara Counties. Compared to November 2015, DOM grew 55% in San Benito, 38% in San Mateo, 37% in Monterey, and 13% in Santa Clara Counties. Santa Cruz County dropped 8%.

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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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