September Real Estate & Housing Update: Silicon Valley Market Shows Sharp Year-Over-Year Median Price Increase

Click here for a printable PDF version

MLSListings Real Estate & Housing Update: September 2014

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

Silicon Valley Market Shows Sharp Year-Over-Year Median Price Increase

Year-over-year we have seen that almost all reported counties have seen an increase in median home prices. Single family residential median home prices are up as much as 18% in San Mateo. Only San Benito showed a decrease in median home price, a mere 1% drop.

Year-over-year we are seeing that both single family and condo/townhome markets are showing large swings in closed sales and median price.

Single family home closed sales are down in Monterey and Santa Clara counties a small 2% and 3% respectively. While San Benito is up 6%, San Mateo is up 13% and Santa Cruz increased by 15%. Median prices for single family homes are up in all counties with the exception of San Benito with a small 1% drop. Monterey is up 6%, San Mateo is up with the highest jump of 18%, Santa Clara has a modest jump at 9% and Santa Cruz saw a 5% increase over Sept. 2013.

The condo/townhome market is also going strong where median prices are up across all reported counties. Median price is up a modest 1% and 4% is Monterey and Santa Cruz respectively, while San Benito showed the larges swing at 41% followed by San Mateo at 19% and Santa Clara at 12% increases.

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 in the Media Center.
Further media inquiry: please contact