January Real Estate & Housing Update: Inventory Rises Moderately in Silicon Valley While Sales Drop

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MLSListings Real Estate & Housing Update:
January 2014

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

Inventory Rises Moderately in Silicon Valley While Sales Drop


When we compare January’s inventory to December 2013, it actually increased in four of our five home counties. Single family inventory rose 20% in San Mateo County, 16% in Santa Clara County, 11% in Monterey County, 4% in Santa Cruz County, and dropped just 4% in San Benito County.

January Inventory was down 15% in San Mateo County but that is well below the 30% to 40% levels in their market for some months in 2013. Santa Cruz inventory followed down 11%, Monterey down 10%, and Santa Clara down by just 8% compared to the 14% - 50% range in 2013.


4 of the 5 home counties showed fewer single family sales in January 2014 compared to the strong start a year ago.

  • Monterey County 31%
  • San Benito 20%
  • Santa Clara 14%
  • San Mateo 3%
  • Santa Cruz County increased 16%

Sales were largely down from December 2013, but this is be expected since January is usually one of the slowest months of the year. Santa Clara sales were down 36%, San Mateo was down 26%, Monterey down 22%, Santa Cruz down 8%, and San Benito rose by 3%.

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.