May 2016 - San Mateo County Poised for Sizzling Summer

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MLSListings Silicon Valley and Coastal Regions Housing Market Overview

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

San Mateo County Poised for Sizzling Summer

San Mateo County inventory for single-family homes rose 20% year-over-year for the month of May. Additionally, closed sales are up 5%, and median sale price increased by 4%.


In other home counties, single-family homes year-over-year inventory showed gains as well, with San Benito growing 64%, Monterey rising 26%, and Santa Clara up 13%. Santa Cruz County saw an 11% decline. Compared to April 2015, inventory grew 10% in San Benito, 8% in San Mateo, 6% in Santa Clara, 4% in Santa Cruz, and 2% in Monterey Counties.


Single-family home sales rose year-over-year in all counties except Santa Cruz and San Benito, which saw an 11% and 2% decline, respectively. San Mateo County showed the largest gain of 5%, Santa Clara County rose 3%, and Monterey County 2%. May sales showed gains over April except in San Benito County which fell 7% and Monterey County which dropped 3%. San Mateo County grew 19%, Santa Clara County increased 9%, and Santa Cruz County was up 1%.


Compared to May 2015, Santa Cruz County median sales price showed the most strength, growing 16%, with the counties of Santa Clara up 10%, San Benito up 8%, San Mateo up 4%, and Monterey up 2%. Compared to April,
San Mateo County median price grew 5%, both Monterey and Santa Cruz Counties rose 3%, Santa Clara rose 1%,
and San Benito County remained flat to last year.


The year-over-year percent of list price to sale price dropped 4% in both San Mateo and Santa Clara Counties, and 1% in Monterey and San Benito Counties. There was no change in Santa Cruz County. Compared to last month, percent of list to sale price dropped 1% in San Mateo and Santa Clara Counties but remained flat in Monterey, San Benito, 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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