January Real Estate & Housing Update: Inventory Shows Modest Gains and Median Prices steady in Silicon Valley

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MLSListings Real Estate & Housing Update: January 2015

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

Inventory Shows Modest Gains and Median Prices Steady in Silicon Valley

January’s single family inventory numbers took a slight jump from December 2014, increasing in all of our five home counties. Year-over-year inventory numbers for single family homes also rose with Santa Clara leading the way with a 34% increase. Townhouses and condos followed the same pattern as single family homes in January. Inventory saw modest gains, and the counties that had inventory numbers dip only did so slightly when compared both to last year and last month’s figures.

Despite growing inventory and reduced closed sales, median price for both single family homes and condo/townhomes kept steady in January.

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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.

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