August 2020 Market Data Reports

August’s complimentary Market Data Reports for the five MLSListings counties in the Silicon Valley and coastal regions are now available for subscribers to download.



Housing Demand Remains Strong in August

Continuing a pattern that’s persisted over the last few months, the local real estate market stayed robust during August.

Once again, median prices were up in all five MLSListings counties compared to August 2019, ranging from a 2% year-over-year (YoY) gain in San Benito County to 31% growth in Monterey County.

Further exemplifying the strong demand for housing, median days on market (DOM) dropped in every county versus last August, highlighted by Santa Clara County back to a single digit with median DOM at 9 days. Closed sales were higher year-over-year in all counties except Santa Cruz, although they were done from last month in all five counties.

Inventory remains tight in all counties, with 4 out of five counties showing double-digit YoY decreases. Santa Cruz’s inventory is 41% less than last year at this time, followed by Monterey at 29% less, Santa Clara’s inventory down by 26% and San Benito with 22% fewer properties for sale. Only San Mateo county showed a gain in inventory, at 26% higher than a year ago. New Listings coming on the market only increased in Santa Clara and San Mateo counties compared to last year.

For a more in-depth look at the real estate landscape in the five MLSListings counties, download the August Market Data Reports:

 

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