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July Housing Update: Is Silicon Valley Returning To A Normal We Once Knew?
9/9/2013

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MLSListings Market Data Report: June 2013

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

July Housing Update: Is Silicon Valley Returning To A Normal We Once Knew?

Remember when, the number one song of the day was, “Hey there Delilah” by the Plain White Tees and the movie to see at the Box Office was “The Departed.” Most importantly, Apple introduced the iPhone! The year was 2007 and according to MLSListings, the average cost of a new house in the Silicon Valley was $836,000.00.

In July 2013 single family sales stayed consistent with June according to the numbers released by MLSListings Inc. As compared to July 2012, inventory is on the decline in a big way. It’s down a massive 34% in San Benito, with only slightly more modest changes in San Mateo at 24%, Monterey at 22%, Santa Cruz at 20% and Santa Clara at 14%. In July 2013, the median price saw double digits increases almost across the board as compared to a year ago. Monterey County single family median price is up 50% compared to last year, San Benito up 45%, Santa Clara up 21%, San Mateo up 15%, with Santa Cruz up 5%. Compared to July of 2012, Monterey, Santa Clara, and San Mateo County sales remained relatively flat, but there was a 10% gain in San Benito County, and Santa Cruz County sales jumped a whopping 28%.

Data for month-over-month comparisons can be found on www.mlslistings.com


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Month over Month

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Year over Year

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Note: MLSListings data is tabulated from the 3rd of the month to the 3rd of the following month, primarily to account for late corrections and additions by agents; these updates are often not included in most market reports. MLSListings’ Market Data report reflects the most current information on the day the reports are generated.