December 2021 Market Data Reports
2021 Ends with Median Sale Prices and Premiums Up, Inventory Down
The conclusion of 2021 saw year-over-year (YoY) increases in both median sale price and percent of list price received in December.
All five MLSListings counties saw YoY price gains, with Santa Clara (+25%) leading the way, followed by Santa Cruz (+12%), Monterey (+11%), San Mateo (+10%) and San Benito (+9%).
In another indication of buyer demand, premiums (i.e., percent paid over asking price) were also up in all five counties, ranging from 101% of listing price paid in Monterey and San Benito to 111% paid in Santa Clara County.
Half of the homes in Santa Clara County spent 8 days or less days on the market, the same as last month. In San Mateo County, the median DOM was 11 days (which is 2 days less than last year, indicating continued strong demand). Median DOM was 13 days in Monterey, 16 days in San Benito, and 12 days in Santa Cruz County.
All counties saw YoY inventory drops, ranging from 22% in San Benito County to 66% in Santa Clara County. Finally, the number of closed sale transactions dropped in all counties except for San Benito, which saw a 52% gain versus last year. Monterey dipped less than 1% in YoY sales, San Mateo fell 12%, Santa Clara decreased 14% and Santa Cruz saw a 22% reduction compared to December 2020.
For a more in-depth look at the real estate landscape in the five MLSListings counties, download the December 2021 Market Data Reports:
- Single-Family Homes Market Overview
- Condo/Townhouse Market Overview
- Market Snapshot (Year-Over-Year and Month-to-Month)