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June 2012 - June Housing Update: San Mateo, Santa Clara Pull Ahead as Low Inventory Levels, Fewer New Listings Continue to Stagnate Bay Area Market
11/6/2012

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MLSListings Market Data Report: June 2012

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

June Housing Update: San Mateo, Santa Clara Pull Ahead as Low Inventory Levels, Fewer New Listings Continue to Stagnate Bay Area Market

Market activity slowed to a crawl for nearly all indicators in June. As inventory continued to drop, the rate of decline slowed again, suggesting a flattening out of the inventory cycle. Closed sales in the five home counties were flat from June 2011; however, sales dropped nearly 9 percent compared to May market activity, demonstrating a reverse trend inconsistent with the typical summer selling season. San Mateo and Santa Clara Counties were the breakout price stars, with median prices rising 9 percent over the previous year. San Benito, Monterey and Santa Cruz County median prices dropped compared to the previous month, but remained nearly flat or slightly above prices from one year ago.




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.