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.