MLSListings Market Data Report: July 2012
(Monterey, San Benito, San Mateo, Santa Clara, and Santa Cruz Counties)
July Housing Update: Sluggish Summer Selling Season – Greater Bay Area Home Sales Drop for Second Month in a Row
Single family home sales dropped in all five counties for the second month in a row in July, making for a sluggish summer selling season. San Benito had the biggest slide at 16%, followed by San Mateo (10%), Monterey (6%), Santa Clara (6%) and Santa Cruz (2%). Inventory remains virtually flat in all counties from the previous month, but has dropped significantly compared to last year, particularly in San Mateo (38%) and Santa Clara (39%) and also notably in San Benito (33%), Monterey (26%) and Santa Cruz (16%). While little change in median price was noted this month compared to June (except in Santa Cruz, which increased by 17%), median price has increased between six and 13 percent from last year in all five counties.
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.