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Silicon Valley December Inventory: How Low Can It Go?

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Regional Spotlight—MLSListings, a full spectrum MLS service organization that provides industry leading MLS services and technology to real estate professionals in California, has announced that Silicon Valley single family inventory continues its drop from December 2011 levels with Santa Clara County down 57 percent and San Mateo County following closely down 52 percent. Sales were mixed in December with San Benito County up 11 percent, Santa Clara up 9 percent, and San Mateo up 7 percent, the organization reported.

Monterey County sales dropped 12 percent and Santa Cruz was down just 3 percent. New listings fell in all counties, ranging from a drop of 20 percent in San Mateo County to a decrease of 36 percent in Monterey County. Median homes sale price continues to rise by double-digits in all counties, with San Benito up 43 percent, San Mateo up 31 percent and both Monterey and Santa Clara County median sales price rose 27 percent. Santa Cruz County grew 12 percent.

Month-over-month comparisons showed a drop in inventory and new listings in all counties from last month. Median homes sale price seemed to stabilize, ranging between being flat in Santa Clara County to an increase of 8 percent in Monterey County. San Mateo County rose 2 percent, San Benito 2 percent, and Santa Clara County remained flat. Data for month-over-month comparisons can be found on www.mlslistings.com.

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