Typically Seasonably Slow Bay Area Real Estate Shows Hefty Gains

December 2015 single family home sales showed unseasonal gains in nearly all MLSListings counties, compared to November 2015. Santa Clara had the largest gain of 20%, San Mateo 14%, Santa Cruz sales rose 9%, and Monterey 5%. Only San Benito sales dropped 17%. December year-over-year sales remain above 2014 levels in four of the five MLSListings counties. San Benito sales rose 20%, both Santa Cruz and Santa Clara grew 16%, and San Mateo increased 7%, with Monterey showing the only decline at 2%.
Month-to-month inventory tells a different story, continuing to decline across all counties compared to November 2015. Inventory dropped 52% in San Mateo, 46% in Santa Clara, 45% in Santa Cruz, 15% in Monterey, and 3% in San Benito. It remains split among the counties compared to 2014, with San Mateo up 14%, San Benito up 4%, Monterey up 2%, and Santa Cruz and Santa Clara down 16% and 1%, respectively.
Compared to last month, median sales price dropped 20% in San Mateo County, 7% in both Monterey and Santa Clara Counties, 5% in San Benito County, and grew 4% in Santa Cruz County. Compared to 2014, the median sales price remains relatively positive, with the counties of San Benito up 11%, Monterey up 9%, Santa Clara and Santa Cruz counties up 6%, and with San Mateo up 2%.