MLSListings Silicon Valley and Coastal Regions Housing Market Overview
(Monterey, San Benito, San Mateo, Santa Clara, and Santa Cruz Counties)
Holiday Housing Market Proving Naughty and Nice
Year-Over-Year Gains with Seasonal Slowdowns
Single-family homes inventory made substantial gains compared to 2014. By county, San Mateo single-family home inventory grew 72%, Santa Clara 48%, Monterey 18%, San Benito 11%, and Santa Cruz 8%. Month-to-month inventory tells a different story, going through a cyclical drop compared to October 2015 in all counties except in San Benito, which grew 1%. Inventory dropped 24% in Santa Clara County, 20% in Santa Cruz County, 19% in San Mateo County, and 8% in Monterey County.
Single-family home sales in November 2015 remain above last year’s levels in four of the five MLSListings counties, with San Mateo showing the only decline at 3%. Monterey County sales rose 17%, Santa Cruz 8%, San Benito 7%, and Santa Clara up 3%. Compared to October 2015, sales dropped by double digits in all counties. San Benito had the largest drop at 53%, Santa Cruz 23%, Santa Clara 22%, Monterey 21%, and San Mateo sales fell 12%.
Finally, compared to 2014, the median sales price remains relatively positive, with the counties of San Benito up 19%, Santa Clara up 13%, San Mateo and Monterey up 9%, and Santa Cruz up 3%. Compared to last month, the median price dropped 5% in Santa Cruz County, up 5% in San Benito County, 4% in Monterey County, and up just 1% in both San Mateo and Santa Clara 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 mlslistings.com in the Media Center.
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