January 2021 Market Data Reports
2021 Real Estate Market Off to a Hot Start
Riding the positive momentum from last year, the real estate market in the five MLSListings counties started with a bang in 2021, as nearly all market indicators were up compared to January 2020.
Closed sales improved over the same month last year in every county; Santa Clara County (up 46%) saw its best January since 2012, and San Mateo County (up 35%) had more closed sales than any prior January going back to 2014. Monterey County sales grew 15% versus 2020, Santa Cruz showed a 29% improvement, and San Benito increased 42% increase. All counties reported an increase in median sale price over January 2020, ranging from a 13% gain in San Mateo County to a 33% hike in Monterey County.
The combination of increased closed sales and prices led to a leap in sales volume in all counties. For the first time ever in January, sales volume for single-family homes in Santa Clara county topped $1 billion dollars, a 64% increase over the prior year. Sales volume growth was even greater in Santa Cruz (66%) and San Benito (90%) counties, while San Mateo was up by 46% and Monterey County rose 59%. Finally, days on market (DOM) are typically longer in January as buyers return from the holidays, but this January was dramatically different, as half the homes in all counties came off the market in 18 days or less. The median time a listing spent on the market in Santa Clara County was half of that, as January median DOM dropped into single-digit territory at 9 days.
For a more in-depth look at the real estate landscape in the five MLSListings counties, download the January 2021 Market Data Reports:
- Single-Family Homes Market Overview
- Condo/Townhouse Market Overview
- Market Snapshot (Year-Over-Year and Month-to-Month)