SINGLE FAMILY INVENTORY:
When we compare January’s inventory to December 2013, it actually increased in four of our five home counties. Single family inventory rose 20% in San
Mateo County, 16% in Santa Clara County, 11% in Monterey County, 4% in Santa Cruz County, and dropped just 4% in San Benito County.
January Inventory was down 15% in San Mateo County but that is well below the 30% to 40% levels in their market for some months in 2013. Santa Cruz inventory
followed down 11%, Monterey down 10%, and Santa Clara down by just 8% compared to the 14% – 50% range in 2013.
4 of the 5 home counties showed fewer single family sales in January 2014 compared to the strong start in a year ago.
Monterey County 31%
San Benito 20%
Santa Clara 14%
San Mateo 3%
Santa Cruz County increased 16%
Sales were largely down from December 2013, but this is be expected since January is usually one of the slowest months of the year. Santa Clara sales were down
36%, San Mateo was down 26%, Monterey down 22%, Santa Cruz down 8%, and San Benito rose by 3%.