February 2017 - Condo/Townhouse Sales Mixed in 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 Mixed in Housing Markets

Condo/townhouse year-over-year inventory grew 171% in San Benito, 6% in San Mateo, and 4% in Santa Clara Counties, but fell 14% in Santa Cruz and 6% in Monterey Counties. Compared to January 2017, inventory rose 26% in San Benito, 20% in San Mateo, 18% in Santa Clara, 11% in Monterey, and 7% in Santa Cruz Counties.


Year-over-year sales were mixed in February 2017. Santa Cruz County rose 17% and Santa Clara grew 5%, while the counties of San Mateo dropped 43%, Monterey fell 42%, and San Benito declined 40%. Compared to January 2017, sales dropped 600% in San Benito, 55% in San Mateo, and 30% in Santa Clara Counties. Monterey County grew 10% and Santa Cruz inched up 3%.


Compared to February 2016, median price rose 7% in both Santa Clara and Santa Cruz Counties, but dropped 34% in Monterey, 11% in San Benito, and 1% in San Mateo Counties. Compared to January 2017, median price dropped 15% in Monterey County, but rose 28% in San Benito, 10% in San Mateo, and 8% in both Santa Clara and Santa Cruz Counties.


Year-over-year average days on market (DOM) dropped 43% in Santa Cruz and 14% in Monterey Counties, while growing 3% in San Mateo. Both San Benito and Santa Clara Counties were flat. Compared to January 2017, DOM grew 23% in San Benito County, but dropped 70% in Santa Clara, 40% in Santa Cruz, 30% in San Mateo, and 2% in Monterey Counties.

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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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