Closed Sales of Single Family Homes Dipped in All MLSListings Counties

As inventory edges up, closed sales of Single Family homes declined in all MLSListings counties from August to September. The picture is nearly the same year-over-year with Monterey County as the only area showing modest gains. Strong gains in inventory in Santa Clara County showed a nearly 75% increase from last year while available homes in San Benito County dropped a little more than 10%.

“As the first source of real estate data for Silicon Valley, we are closely monitoring the market for any indications of movement. Our area has been experiencing shifts that we haven’t seen in several years. With California as the world’s fifth largest economy, the rest of the globe also keeps tabs on MLSListings data. Our data is recognized as the most up-to-date because real estate listings originate with the MLSListings platform and are updated every five minutes,” said Jim Harrison, President and CEO of MLSListings.

September 2018 Data for MLSListings Counties (from North to South):

In San Mateo County, the median Single Family home cost $1,600,000 and sold in 13 days for 107% of the list price based on 309 sales in September 2018.

  • Inventory was up 31% from August, and up 29% from September 2017 with 678 homes available, compared to 526 homes last year.
  • Average days on market (DOM) moved up 2 days from 22 to 24 or 9%; median DOM added 1 day from the month before.
  • Number of new listings for the month of September increased 32% over August, and are up 12% from September of last year.
  • Closed sales dipped -18% from August from 378 to 309, and are down -15% from September 2017.

In Santa Clara County, the median Single Family home cost $1,250,000 and sold in 17 days for 102% of the list price based on 730 sales in September 2018.

  • Inventory was up 16% from August, and up 74% from September 2017 with 1574 homes available, compared to 906 homes last year.
  • Average days on market (DOM) moved up 5 days from 22 to 27 or 23%; median DOM gained 4 days from the month before.
  • Number of new listings for the month of September increased 15% over August, and are up 24% from September of last year.
  • Closed sales dipped -23% from August from 945 to 730, and are down -23% from September 2017.

In Santa Cruz County, the median Single Family home cost $900,000 and sold in 19 days for 99% of the list price based on 139 sales in September 2018.

  • Inventory was up 1% from August, and up 2% from September 2017 with 558 homes available, compared to 546 homes last year.
  • Average days on market (DOM) moved up 21 days from 33 to 54 or 64%; median DOM added 1 day from the month before.
  • Number of new listings for the month of September decreased -15% over August, and are down -3% from September of last year.
  • Closed sales dipped -26% from August from 187 to 139, and are down -23% from September 2017.

In Monterey County, the median Single Family home cost $627,004 and sold in 19 days for 98% of the list price based on 220 sales in September 2018.

  • Inventory was flat with August, but down -6% from September 2017 with 860 homes available, compared to 919 homes last year.
  • Average days on market (DOM) moved up 14 days from 41 to 55 or 34%; median DOM dropped -3 days from the month before.
  • Number of new listings for the month of September decreased -30% over August, and are down -7% from September of last year.
  • Closed sales dipped -5% from August from 231 to 220, but are up 3% from September 2017.

In San Benito County, the median Single Family home cost $562,000 and sold in 24 days for 99% of the list price based on 38 sales in September 2018.

  • Inventory was down -3% from August, and down -11% from September 2017 with 147 homes available, compared to 165 homes last year.
  • Average days on market (DOM) dropped -16 days from 55 to 39 or -29%; median DOM dropped -21 days from the month before.
  • Number of new listings for the month of September decreased -16% over August, and are down -12% from September of last year.
  • Closed sales dipped -10% from August from 42 to 38, and are down -5% from September 2017
County listing data and analysis is courtesy of Aculist, an MLSListings in-house startup that provides business analytics solutions for real estate professionals. To learn more, visit Aculist.com