MLSListing Market Overview – June 2021

MLSListings Silicon Valley and Coastal Regions Single-Family Homes Market Overview

No June Swoon – Closed Sales Hit 2021 Highs

Just as summer temperatures heat up, the real estate market in the five MLSListings counties continues to sizzle. June closed sales were the highest this year across all counties, and half the homes on the market were sold in 8 or 9 days, with median days on market (DOM) in Monterey and Santa Cruz counties at 9 days, and the other three counties at 8 days. The number of new listings entered in June was up everywhere except Santa Cruz County, which saw a 20% decrease in new listings compared to May.

Median sale prices eased off their May highs in three of the five counties, rising in only San Mateo (up 7%) and Santa Clara (up 5%). Santa Cruz County saw a 10% month-over-month decrease, and Monterey (-4%) and San Benito (-2%) counties followed suit. While still critically low, home inventory actually ended June in a better position than May in all counties except Santa Cruz, where inventory was off 3% from the previous month.

June 2021 Data for MLSListings Counties (from North to South):

In San Mateo County, the median Single Family home cost $2,088,888 and sold in 8 days for 111% of the list price based on 555 sales in June 2021.

  • Inventory increased 9% from May and is down -28% from June 2020 with 572 homes available, compared to 789 homes last year.
  • Average days on market (DOM) dropped by -5 days from May going from 19 days to 14 days or -26%; median DOM stayed the same as the month before: 8 days.
  • Number of new listings for the month of June increased 10% over May and is up 6% from June of last year.
  • Closed sales increased 7% from May from 517 to 555, and was up 40% from June 2020.

In Santa Clara County, the median Single Family home cost $1,742,500 and sold in 8 days for 110% of the list price based on 1330 sales in June 2021.

  • Inventory was up 8% from May, but down -20% from June 2020 with 1091 homes available, compared to 1363 homes last year.
  • Average days on market (DOM) dropped by -1 day from May going from 13 to 12 days or -8%; median DOM increased from 7 to 8 days.
  • Number of new listings for the month of June increased 4% over May but was up 35% from June of last year.
  • Closed sales increased by 7% from May from 1244 to 1330 and up 48% compared to June 2020.

In Santa Cruz County, the median Single Family home cost $1,175,000 and sold in 9 days for 108% of the list price based on 221 sales in June 2021.

  • Inventory decreased by -2% from May, and down -22% from June 2020 with 335 homes available, compared to 428 homes last year.
  • Average days on market (DOM) decreased by -7 days from 20 to 13 or -35%; median DOM dropped by -1 day from the month before.
  • Number of new listings for the month of June decreased -19% over May and is up 9% from June of last year.
  • Closed sales rose 11% from May from 200 to 221 homes sold. This is up 18% from June 2020.

In Monterey County, the median Single Family home cost $852,778 and sold in 9 days for 103% of the list price based on 264 sales in June 2021.

  • Inventory was up 8% from May, and down -32% from June 2020 with 488 homes available, compared to 722 homes last year.
  • The market slowed down – Average days on market (DOM) went up by 3 days from 27 to 30 or 11%; median DOM remained unchanged from the month before.
  • Number of new listings for the month of June increased 13% over May and was up 15% from June of last year.
  • Closed sales increased 16% from May from 228 to 264 but up 47% from June 2020.

In San Benito County, the median Single Family home cost $794,689 and sold in 8 days for 103% of the list price based on 74 sales in June 2021.

  • Inventory was up 23% from May, and down -13% from June 2020 with 122 homes available, compared to 140 homes last year.
  • Average days on market (DOM) increased by 13 days from 15 to 28 days or 87%; median DOM decreased by -1 day from the month before.
  • Number of new listings for the month of June increased 26% over May and was up 89% compared to June of last year.
  • Closed sales increased 17% from May from 63 to 74 and is up 45% from June 2020.

MLSListings Silicon Valley and Coastal Regions Condo/Townhouse Market Overview

June 2021 County Summaries Condo/Townhouse Market

In San Mateo County, the median Residential Common Interest home cost $958,000 and sold in 10 days for 104% of the list price based on 187 sales in June 2021.

  • Inventory was down -1% from May, and down -5% from June 2020 with 235 homes available, compared to 248 homes last year.
  • Average days on market (DOM) decreased by -4 days from 23 to 19 days; median DOM increased 1 day from the May number.
  • Number of new listings for the month of June increased 3% over May and increased 12% from June of last year.
  • Closed sales increased 11% from May from 168 to 187 but is up 101% from June 2020.

In Santa Clara County, the median Residential Common Interest home cost $916,000 and sold in 9 days for 105% of the list price based on 629 sales in June 2021.

  • Inventory increased by 4% from May but is down -6% from June 2020 with 655 homes available, compared to 698 homes last year.
  • Average days on market (DOM) decreased -1 day from May from 20 to 19 or -5%; median DOM increased 1 day from the month before.
  • Number of new listings for the month of June increased 8% over May and was up 54% from June of last year.
  • Closed sales increased 16% from May from 540 to 629 and up 122% from June 2020.

InIn Santa Cruz County, the median Residential Common Interest home cost $745,250 and sold in 8 days for 105% of the list price based on 44 sales in June 2021.

  • Inventory decreased -5% from May and is down -59% from June 2020 with 55 homes available, compared to 134 homes last year.
  • Average days on market (DOM) decreased -22 days from 33 to 11 or -67%; median DOM was unchanged from the month before.
  • Number of new listings for the month of June increased 9% over May but is down -18% from June of last year.
  • Closed sales decreased by -4% from May from 46 to 44 and is down -12% from June 2020.

IIn Monterey County, the median Residential Common Interest home cost $565,000 and sold in 7 days for 101% of the list price based on 46 sales in June 2021.

  • Inventory was down -11% from May and is down -42% from June 2020 with 65 homes available, compared to 113 homes last year.
  • Average days on market (DOM) increased by 11 days, from 12 to 23 or 92%; median DOM increased by 1 day from the month before.
  • Number of new listings for the month of June increased 2% over May and is up 15% from June of last year.
  • Closed sales increased by 7% from May from 43 to 46 and is up 156% from June 2020.

IIn San Benito County, the median Residential Common Interest home cost $508,000 and sold in 7 days for 105% of the list price based on 5 sales in June 2021

  • Inventory was down -67% from May and is down -86% from June 2020 with 1 home available, compared to 7 homes last year.
  • Average days on market (DOM) decreased by -26 days from 32 to 6 or -81%; median DOM dropped -2 days from the month before.
  • Number of new listings for the month of June decreased -50% over May and decreased -60% from June of last year.
  • Closed sales dipped -44% from May from 9 to 5 but is up 150% from June 2020.

County listing data and analysis is courtesy of Aculist, an MLSListings in house startup that provides business analytics solutions for real estate professionals. To learn more, visit Aculist.com.

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This post was written by Rumana Jabeen

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