The Peninsula real estate market saw growth across nearly all market indicators in January compared to last year. Santa Clara County’s closed sales were up 46%, and San Mateo’s were up 35%.
Both San Mateo County and Santa Clara County had an increase in median sale price over January 2020. For the first time ever in January, sales volume for single-family homes in Santa Clara county topped $1 billion, a 64% increase over the prior year. San Mateo was up by 46%.
And, the days on the market (DOM) trend was broken this year. In January, homes came off the market in 18 days or less. Santa Clara’s median DOM dropped to 9 days in January.
Market Snapshot – January 2021 vs. January 2020
San Mateo Single-Family Homes
Inventory up 28%
New listings up 33%
Closed sales up 35%
Days on the market down 33%
Median price up 13%
San Mateo Condos/Townhouses
Inventory up 95%
New listings up 52%
Closed sales up 24%
Days on the market up 9%
Median price down -1%
Santa Clara Single-Family Homes
Inventory up 26%
New listings up 33%
Closed sales up 46%
Days on the market down -57%
Median price up 15%
Santa Clara Condos/Townhouses
Inventory up 73%
New listings up 46%
Closed sales up 29%
Days on the market down -31%
Median price up 7%
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