Back
January 2017 - Mixed Bag for Condo/Townhome Inventory and Sales in Key Silicon Valley Counties as New Year Begins
2/13/2017

Click here for a printable PDF version

MLSListings Silicon Valley and Coastal Regions Housing Market Overview

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

Mixed Bag for Condo/Townhome Inventory and Sales in Key Silicon Valley Counties as New Year Begins

Condo/townhouse year-over-year inventory grew 250% in San Benito and 8% in Santa Clara Counties, but fell 15%
in Monterey, 7% in Santa Cruz, and 5% in San Mateo Counties. Compared to December 2016, inventory mildly dropped 4% in Monterey and 3% in Santa Cruz, but grew 22% in Santa Clara, 21% in San Benito, and 17% in San Mateo Counties.

 

Sales were mixed in January 2017, up 48% in Santa Cruz and 15% in Monterey Counties, while dropping 50% in San Benito, 7% in San Mateo, and 4% in Santa Clara Counties. Compared to December 2016, sales dropped 600% in San Benito, 55% in San Mateo, and 30% in Santa Clara Counties. Monterey County grew 10% and Santa Cruz County rose 3%.

 

Compared to January 2016, median price rose 10% in Santa Clara and was flat in Monterey County, but dropped 21%
in San Benito, 9% in San Mateo, and 8% in Santa Cruz Counties. Compared to December 2016, median price dropped 32% in San Benito, 5% in Santa Cruz, 3% in both Monterey and San Mateo, and 2% in Santa Clara Counties.

 

Year-over-year average days on market (DOM) dropped 27% in Monterey and 26% in Santa Cruz Counties, while growing 138% in San Benito, 30% in San Mateo, and 26% in Santa Clara Counties. Compared to December 2016, DOM grew 24% in Santa Cruz, 9% in Santa Clara, and 5% in San Mateo Counties, while dropping 65% in San Benito and 11% in Monterey Counties.

Click for a larger image.


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.

A complete report for numbers indicated in summary can be found at mlslistings.com in the Media Center.
Further media inquiry: please contact pr@mlslistings.com.