MLSListings Real Estate & Housing Update: November 2014
(Monterey, San Benito, San Mateo, Santa Clara, and Santa Cruz Counties)
Silicon Valley Real Estate Median Price Gains for Single Family and Condos
The number of closed sales has closely followed the total dollars of homes sold in all reported counties. Compared to Nov. 2013 total sales dollars are up, however we see a slight decrease in closed sales.
Reviewing the year-over-year numbers for median price and total dollars sold in all reported counties – Monterey, San Benito, San Mateo, Santa Clara and Santa Cruz – the story is that the real estate market in Silicon Valley is stable.
Year-over-year median prices for single family home sales are up across all reported counties. San Mateo reports the highest increase of median prices up 18%, followed by San Benito at 14% and Monterey at 11%. Santa Clara and Santa Cruz follow with 7% and 4% increases respectively.
Total dollars sold for single family homes are also up. San Mateo leads the way with a whopping 30% increase in total dollars sold when comparing Nov. 2014 with Nov. 2013. Monterey is up 10% and Santa Cruz showed a 2% increase. San Benito saw a modest decrease of 6% year-over-year, and Santa Clara was down a small 1%.
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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