An Unusual Year in Real Estate Ends Atypically

Because 2020 was an extraordinary year, unsurprisingly the real estate market in the five MLSListings counties
refused to behave normally at year-end. December typically is a slower month for new listings, but new homes
listed last month were up in all counties compared to December 2019, ranging from a low of 62% in San Benito
County to a high of 226% in Santa Cruz. Closed Sales improved year-over-year in every county except San Benito (-
6%); in contrast, San Mateo closed sales grew 35% versus December 2019, Santa Clara increased 29%, and Monterey
and Santa Cruz showed 17% and 11% improvements, respectively.
Once again, median sale price rose across the board compared to December 2019 – from 13% in Santa Clara to 28%
in Monterey. San Benito showed a 22% increase, San Mateo 15% and Santa Cruz 20%. The median time a listing
spent on the market (i.e., days on market, or DOM) stayed at 13 days or less in all five counties. In Santa Clara
and San Benito counties, half the homes listed left the market in 9 days or less. Finally, the core Bay Area
counties of Santa Clara and San Mateo exited 2020 with higher inventory than 2019, whereas Monterey, San
Benito and Santa Cruz counties ended 2020 with lower inventory than December 2019.
December 2020 Data for MLSListings Counties (from North to South):
In San Mateo County, the median Single Family home cost $1,700,000 and sold in 13 days for 102% of the list price
based on 402 sales in December 2020.
• Inventory dropped -41% from November, but is up 27% from December 2019 with 333 homes available,
compared to 263 homes last year.
• Average days on market (DOM) increased by 3 days from 27 to 30 or 11%; median DOM increased 1 day
from the month before.
• Number of new listings for the month of December dipped -35% over November, but is up 103%
from December of last year.
• Closed sales decreased -4% from November from 420 to 402, and was up 36% from December 2019.
In Santa Clara County, the median Single Family home cost $1,375,000 and sold in 9 days for 104% of the list price
based on 895 sales in December 2020.
• Inventory was down -26% from November, but up 21% from December 2019 with 686 homes available,
compared to 565 homes last year.
• Average days on market (DOM) increased 2 days from 19 to 21 or 11%; median DOM rose by 1 day
from November.
• Number of new listings for the month of December decreased -10% over November, but was up 167%
from December of last year.
• Closed sales dipped -10% from November from 990 to 895 and up 29% compared to December 2019.
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Market Data Report
MLSListings Silicon Valley and Coastal Regions Single-Family Homes Market Overview
In Santa Cruz County, the median Single Family home cost $1,070,000 and sold in 11 days for 102% of the list
price based on 170 sales in December 2020.
• Inventory was down -18% from November, and down -6% from December 2019 with 235 homes available,
compared to 249 homes last year.
• Average days on market (DOM) increased by 4 days from 26 to 30 or 15%; median DOM rose by 3 days
from the month before.
• Number of new listings for the month of December increased 1% over November, and is up 226%
from December of last year.
• Closed sales increased 3% from November from 165 to 170 homes sold. This is up 11% from December 2019.
In Monterey County, the median Single Family home cost $785,000 and sold in 10 days for 100% of the list price
based on 251 sales in December 2020.
• Inventory was down -15% from November, and down -25% from December 2019 with 452 homes available,
compared to 602 homes last year.
• The market sped up – Average days on market (DOM) dropped by -2 days from 40 to 38 or -5%; median DOM
decreased by -1 day from the month before.
• Number of new listings for the month of December decreased -6% over November but was up 73%
from December of last year.
• Closed sales rose 2% from November from 247 to 251 and up 17% from December 2019.
In San Benito County, the median Single Family home cost $725,500 and sold in 9 days for 101% of the list price
based on 44 sales in December 2020.
• Inventory was down -11% from November, and down -24% from December 2019 with 80 homes available,
compared to 105 homes last year.
• Average days on market (DOM) increased by 11 days from 28 to 39 days or 39%; median DOM decreased
by -1 day from the month before.
• Number of new listings for the month of December remained the same as November, but was up 62%
compared to December of last year.
• Closed sales decreased -41% from November from 74 to 44 and is down -6% from December 2019.