March 2012 - March Housing Update: Inventory, new listings continue to drop

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MLSListings Market Data Report: March 2012

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

March Housing Update: Inventory, new listings continue to drop

The number of new listings and overall inventory continue to decline in all five counties compared to last year. New listings in Santa Clara County have dropped every month from October 2010, and came in 15 percent down from the same month last year. San Mateo new listings have dropped each month since November 2011. Overall inventory is down 11 percent in Santa Cruz County, 19 percent in Monterey County, and down 20 percent in San Benito County. For Santa Clara and San Mateo counties, inventory has dropped every month since June of last year; this month, both are down 29 percent compared to March 2011.

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.