August 2021 Market Data Reports
Inventories Down, Closed Sales Mixed in August
Home inventory numbers dropped from July in all five MLSListings counties except for Monterey, which showed just a 3% improvement; inventories are still down across the board compared to a year ago.
Median days on market (DOM) grew from 10 to 11 in Santa Cruz and San Benito counties, but were unchanged in Monterey, San Mateo and Santa Clara counties.
Median sale prices rose only in Santa Cruz County compared to July; median prices were down 8% in San Mateo and 1% in both Monterey & San Benito counties, while they were unchanged in Santa Clara County. Viewed year-over-year, while down 1% in Monterey County, median sale prices rose in the other four counties, ranging from 3% in San Mateo County to 24% in San Benito County.
Every county saw sale prices above list prices, on average. While there was a 1% decline in the premium paid in San Benito, San Mateo and Santa Cruz counties, the percent of list price paid in August was still 101%, 109% and 104% respectively in those counties; percent of list price received also showed premiums in Monterey (102%) and Santa Clara (109%) counties.
August closed sales fell in Santa Clara and San Mateo counties compared to July, but increased in Monterey, San Benito and Santa Cruz counties. When comparing August 2021 to 2020, sales increased in Santa Clara (14%), San Mateo (14%) and Santa Cruz (42%) counties but dropped in Monterey (-8%) and San Benito (-1%) counties.
For a more in-depth look at the real estate landscape in the five MLSListings counties, download the August 2021 Market Data Reports:
- Single-Family Homes Market Overview
- Condo/Townhouse Market Overview
- Market Snapshot (Year-Over-Year and Month-to-Month)