Silicon Valley Median Home Prices Continue Climbing…but at a Slower Pace
Same trend along the California Pacific Coast
Median prices are up in San Mateo and Santa Clara Counties 5% and 3% respectively month-over-month, with San Benito and Santa Cruz Counties down 4% and 9% respectively over the same time period. Monterey County showed the only significant change median price from April with a 17% jump. Closed sales were down 12% in Monterey County, 10% in San Mateo County, and down 2% in San Benito County, when comparing May 2015 to last year. Sales increased 12% in Santa Cruz County and just2% in Santa Clara County over the same time period. Month-over-month numbers for the same data point also show softening for closed sales in May. Compared to last month, sales dropped 2% in Monterey County, 6% in both San Benito and Santa Clara Counties, and 8% in San Mateo County. Sales showed a modest gain of 5% in Santa Cruz County.
The below chart for total dollars spent compared to closed sales shows the gap between the two data points down from April and coming closer in May.