MLSListings Real Estate & Housing Update: June 2014
(Monterey, San Benito, San Mateo, Santa Clara, and Santa Cruz Counties)
Prices Up, Sales Down as the Silicon Valley Market Continues to Wrestle With Low Inventory
Single family sales took a modest, but significant decline in June, down 1 – 6% in four of the five reported counties. Santa Clara remained stable mirroring June 2013 levels. Median prices held strong, hitting double digits across all counties for the same period. Low inventory continues to challenge the market at levels below 2013.
Condo/Townhouse sales are also down compared to June 2013. Monterey County dipped 50%, Santa Cruz County was down 46%, Santa Clara and San Mateo were down 2% and 1% respectively. Condo/Townhome prices remain positive.
Year over year the annual surge of summer for single family sales has slowed for four of our five reported counties and Santa Clara is flat.
Median price for single family and condo/townhomes nearly reached the same levels as June 2007 when the market spiked. June 2014 is only off from the previous market high by $3,500.
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.
Further media inquiry: please contact email@example.com.