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April 2012 - April Housing Update: Sales, Prices Post Gains as Inventory Keeps Falling
11/6/2012

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MLSListings Market Data Report: April 2012

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

April Housing Update: Sales, Prices Post Gains as Inventory Keeps Falling

Low inventory in recent months coupled with anemic new listing levels sparked a textbook supply-and-demand response in the northern California housing market for April. The number of new listings and overall inventory declined sharply in most counties compared to last year. Although sales have remained fairly flat in Santa Clara County, in San Mateo County the number of sales has increased by more than 20 percent for each of the last three months after being flat in January. Santa Clara County’s median price jumped nine percent after being relatively flat in February and March. Additionally, in Santa Cruz County, sales have been increasing for nine months straight, with small price gains since the beginning of the year.




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.