Compared to May of last year, single family median price levels remain positive in all of our home counties – Monterey, San Benito, San Mateo, Santa Clara and Santa Cruz. Median price for May is still higher than May of 2013. San Mateo County is up 18% compared to 23% the same time last year, San Benito is also up 18% compared to 29% in 2013, Monterey County is up 13% compared to 37% last year, Santa Cruz is up 9% compared to being up 25% in 2013, and Santa Clara County is up 8% compared to 28% in May 2013.
We usually see prices begin an upward climb in May in anticipation of the summer selling season. Unusually, we see that in San Benito and Santa Clara county, the month-over-month median price fell 4% and 2% respectively. While we see the traditional rise in San Mateo at 9%, Santa Cruz up 7% and Monterey positive at 2%.
When reviewing the long term trend line for Silicon Valley median price, May 2014 has almost returned to the same level as May 2007. This year’s median price is only off from 2007 by $26,500.
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Data supplied is for MLSListings Inc five home counties: Monterey, San Benito, San Mateo, Santa Clara and Santa Cruz. MLSListings data is tabulated the third of every month to the third of the following month; primarily to account for late corrections and additions by agents. These updates are often not included in most market reports. The Market Indicators Report reflects the most current information on the date the report is generated.
A complete report for numbers indicated in summary can be found at mlslistings.com in the Media Center.
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