MLSListings Silicon Valley and Coastal Regions Housing Market Overview
(Monterey, San Benito, San Mateo, Santa Clara, and Santa Cruz Counties)
Two Coastal Communities – A Study in Contrast
Monterey County Summer Sales Surge as Santa Cruz County Sales Slump
Compared to 2015, single-family home sales rose 27% in Monterey, 23% in San Benito, and 4% in San Mateo Counties, while dropping 26% in Santa Cruz and 2% in Santa Clara Counties. June sales showed gains over May in all counties, the largest being in San Benito at 28%, followed by 18% in Monterey, 8% in San Mateo, 5% in Santa Clara, and 1% in Santa Cruz.
Year over year single-family homes inventory showed gains in all home counties except Santa Cruz which dropped 9%. San Benito County grew 35%, San Mateo 17%, Santa Clara 6%, and Monterey 3%. Compared to May 2016, inventory grew 10% in Santa Cruz County and 3% in Monterey County, but dropped 7% in San Benito County, 5% in Santa Clara County, and 1% in San Mateo County.
Compared to June 2015, median price remained positive in all Home Counties. Santa Cruz County showed the most strength up 10%, with Monterey County up 8%, Santa Clara up 5%, San Benito grew 4%, and San Mateo County was up 2%. Compared to May, median price grew 5% in San Benito County, but dropped 6% in San Mateo, 5% in Santa Clara, 2% in Monterey, and 1% in Santa Cruz Counties.
Year over year average days on market (DOM) dropped 33% in Monterey County, 32% in Santa Cruz, and 5% in both San Mateo and Santa Clara Counties, while rising just 2% in San Benito County. Compared to last month, DOM dropped 62% in Santa Cruz County on nearly the same number of sales, and 2% in Monterey County, while increasing 43% in San Benito, 10% in San Mateo, and 5% in 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.
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