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December 2012 - Silicon Valley Inventory - How Low Can It Go?
2/12/2013

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MLSListings Market Data Report: December 2012

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

December Housing Update: Silicon Valley Inventory - How Low Can It Go?

Silicon Valley single family inventory continues its drop from December 2011 levels with Santa Clara County down 57% and San Mateo County following closely down 52%. Sales were mixed in December with San Benito County up 11%, Santa Clara up 9%, and San Mateo up 7%. Monterey County sales dropped 12% and Santa Cruz was down just 3%. New listings fell in all counties, ranging from a drop of 20% in San Mateo County to a decrease of 36% in Monterey County. Median homes sale price continues to rise by double-digits in all counties, with San Benito up 43%, San Mateo up 31% and both Monterey and Santa Clara County median sales price rose 27%. Santa Cruz County grew 12%.

Month-over-month comparisons showed a drop in inventory and new listings in all counties from last month. Median homes sale price seemed to stabilize, ranging between being flat in Santa Clara County to an increase of 8% in Monterey County. San Mateo County rose 2%, San Benito 2%, and Santa Clara County remained flat. 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 5th of the month to the 5th 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.