February 2021 Market Data Reports Now Available
Robust 2021 Local Real Estate Market Rolls On
The 2021 real estate market in the five MLSListings counties maintained their positive momentum in February, as most market indicators again increased versus a year ago.
As was the case in January, closed sales improved over the same month last year in every county; Santa Clara County (up 24%) saw its best February since 2012, and San Mateo County (up 11%) saw more closed sales than any prior February going back to 2013. In Monterey County, sales were up by 19% compared to 2020, Santa Cruz showed a 30% improvement, and San Benito grew 26% increase. All counties reported an increase in median sale price over February 2020, ranging from a 12% gain in Santa Clara County to a 23% boost in San Mateo County.
The number of closed sales and price increases resulted in a leap in sales volume for each of the counties. For the second month in a row, sales volume for single-family homes in Santa Clara County topped $1 billion dollars, a 43% increase over the prior year. The sales volume increases were even greater in Santa Cruz and Monterey counties, where sales volume grew by 58% and 57%, respectively. Finally, days on market (DOM) were busy in February, with half the homes coming off the market in 16 days or less in all counties. However, the median time a listing spent on the market in Santa Clara County was half of that, as February median DOM dropped into single-digit territory at 8 days.
For a more in-depth look at the real estate landscape in the five MLSListings counties, download the February 2021 Market Data Reports:
- Single-Family Homes Market Overview
- Condo/Townhouse Market Overview
- Market Snapshot (Year-Over-Year and Month-to-Month)