April 2021 Market Data Reports
Inventory at Historic Lows, Median DOM in Single Digits
The real estate market in the five MLSListings counties continued to flourish in April. Closed sales in Santa Clara County were the highest in any month going back to May 2012, while San Mateo County saw more closed sales than any prior April going back to 2012. San Benito County’s sold count was the most for any April since 2012, Santa Cruz County closed sales were the highest for April since 2010, and Monterey County closed sales were up by 71% compared to April 2020.
Total dollars transacted for single-family homes again reached new levels in all counties. For the first time, Santa Clara County exceeded $2 billion dollars in one month for single-family home sales – a 38% increase over March. Sales volume grew 49% in Santa Cruz, 28% in San Mateo, 17% in San Benito, and 1% in Monterey. Meanwhile, the median sale price for single-family homes hit new all-time highs in three counties (Santa Clara, San Mateo, and Santa Cruz) in April.
In another indicator of the sizzling market, every county reported median days on market (DOM) in single digits, meaning that half of the homes that came off the market did so in 9 days or less. Home inventory stayed at historic lows, as inventory in all counties was down compared to April 2020. Notably, Santa Clara County inventory is in the low 900’s, when normally it would be in the 1,100 – 1,500 range. Finally, a bright spot for the market is that new listings were up in all five counties – both on a month-over-month and year-over-year basis.
For a more in-depth look at the real estate landscape in the five MLSListings counties, download the April 2021 Market Data Reports:
- Single-Family Homes Market Overview
- Condo/Townhouse Market Overview
- Market Snapshot (Year-Over-Year and Month-to-Month)