June 2015 - Silicon Valley’s Real Estate Busy Season Finishing Strong

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MLSListings Real Estate and Housing Update

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

Silicon Valley's Real Estate Busy Season Finishing Strong

Inventory Strengthens in June

Inventory levels rose in June when compared both year-over-year and month-over-month in all reported counties for single family housing. Monterey County had the largest month-over-month growth in inventory as it rose 21% from last May, and Santa Clara County led the way in year-over-year inventory gains with a 32% jump.

June closed sales also rose in all our home counties when compared to last month, and saw a significant increase from June 2014, except San Mateo which was down only 5%. Median prices for single family homes are also well up from last year, but are showing a slowdown in June when compared to last month. Month-over-month June median prices inched up in San Benito and Santa Cruz counties, were slightly down in Monterey and San Mateo counties, and remained virtually the same in Santa Clara County. This recent median price trend paired with strengthening inventory have helped the strong finish to this year’s selling season.

The below chart for total dollars spent compared to closed sales shows the gap between the two data points down from April and coming closer in May.

Click for a larger image.

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.
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