August 2015 - Median Prices Continue to Rise, Inventory Shows Surprise Gains

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MLSListings Real Estate and Housing Update

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

MLSListings Silicon Valley and Coastal Regions Housing Market Overview

Median Prices Continue to Rise, Inventory Shows Surprise Gains

The rise in median price from August 2014 compared to August 2015 in all counties reported by MLSListings still shows significant gains except in Monterey County where it dropped 4%. San Mateo County still shows a healthy growth of 24%, Santa Clara up 11%, Santa Cruz County up 10%, and San Benito following at 7%. Prices are beginning to level off from last month. Median price was up only 1% in Santa Clara and San Benito Counties, but dropped 5% in both San Mateo and Santa Cruz Counties. Monterey County was down 1%.

Compared to last year, sales volume is up
15% in Santa Clara County, and 1% in Monterey County, however it dropped 14% in San Benito County, 5% in San Mateo County, and 3% in Santa Cruz County. Sales dipped from July which is expected, but is down anywhere from 11% to 78% depending on the County.

Inventory is showing significant growth in most of the MLSListings Counties. Santa Clara County jumped to
38%, San Mateo was up 33%, Monterey County up 22%, Santa Cruz County up 7%, and San Benito up 6% over last year. While not in double digits, inventory also grew from last month from 10% in San Benito County to 1% in both Santa Clara and Santa Cruz Counties.

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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.

A complete report for numbers indicated in summary can be found at in the Media Center.
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