January 2022 Real Estate Market Update

Monterey County Real Estate Market

Demand for real estate in Monterey County remains high going into 2022, with inventory down 42% since this time last year. Homes continue to bring in multiple offers above asking, even more than they did in January of 2021. We are seeing properties remain on the market slightly longer than they did in January last year, about 7 DOM longer on average.

Similar stats are found in condo, townhome, and single family home sales, reflecting the trend we have been seeing all year: everyone wants to buy in Monterey County and they are willing to pay top dollar in this highly desirable market no matter the type of property. The median single family home price in Monterey County in January 2022 was $875,000 for single family homes and $730,000 for condos and townhomes.

We saw a 5% decrease in inventory from January 2021 to January 2022, but there were many more homes on the market in January 2022 than December 2021, with a 50% increase in single family home listings and a 131% increase in townhome and condo listings.

For more information about the Monterey County real estate market, contact our office at any time!

View The MLS Listings Silicon Valley and Coastal Regions Single Family Home Market Overview

San Mateo County Real Estate Market Update January 2022

San Mateo County remains a hot sellers market, with only a slight increase in inventory since December of last year. With 37% less townhome and condo inventory and 45% less single family home inventory compared to January 0f 2021, even the slight increase in recent months has not brought demand or prices down.

The median single family home price in San Mateo County in January 2022 was $1,888,000 and the median townhome or condo price was $905,000. This reflects a median price increase of 25% for single family homes and 10% for townhomes and condos.

Properties in San Mateo County continue to receive at or above listing price offers, with a 4% increase in % to list price received for townhomes and condos and a 7% increase for single family homes. If you are considering selling your San Mateo County property, now is a great time to list it. With many buyers waiting for new listings, properties are generally receiving multiple attractive offers.

For more information about the San Matey County real estate market, contact our office at any time!

View The January 2022 County Summaries Condo Townhome Market Here

Santa Clara County Real Estate Market Update January 2022

Santa Clara County real estate remains highly competitive, with a decrease in inventory and significant increase in median price since last year. Though we saw a slight, expected dip in sales for December 2021, traditionally anticipated due to the holidays, the market remains hot.

The median price for single family homes in Santa Clara County was $1,688,888 in January of 2022, which is a 24% increase from January 2021. For townhomes and condos, the median price in January 2022 was $850,000, which is a 2% increase from January 2021.

Homes are on the market for about half the time they were in January 2021, with new listings down by about 20%. If you are considering selling your Santa Clara County property, now is a beneficial time to list your home. We are seeing sales prices between 106%-113% of listing price on average in Santa Clara County, an increase of 6% for townhomes and condos and 9% for single family homes in comparison to January 2021.

For more information about buying and selling in Santa Clara County, or to find out more about the real estate market in the area, contact our office any time!

View the Market Snapshot January 2021 VS January 2022

Santa Cruz County Real Estate Market Update January 2022

Santa Cruz County is seeing one of the most dramatic decreases in real estate inventory in the area, contributing to a hot seller's market. Townhome and condo inventory has decreased by 65% since January 2021 and single family home inventory is down by 42% since January 2021.

The median price for a Santa Cruz County single family home in January 2021 was $1,250,000, up 12% in a year. The median townhome and condo price was $860,000, which is a 34% increase from January 2021. The median days on the market has also increased, nearly doubling since January 2021.

Full price and above offers are common in the current Santa Cruz County market, with an average of 104% of list price received for all properties in January 2021, including single family homes, townhomes, and condos. That means now is a great time to consider listing your property in Santa Cruz County.

San Benito County Real Estate Market Update January 2022

The San Benito County real estate market is booming, as it has been for over a year. We are seeing a steady demand for housing of all types in the county, driving median and average prices up. New listings of townhomes and condos is up by 200% since January 2021 and 100% since December of 2021, a helpful statistic for people who have been patiently waiting to get into the market. Single family homes also saw an increase in new listings, with 3% more than January 2021 and 63% more than December 2021.

The median single family home price is up 22% since January 2021, with median townhome and condo prices also rising over the year. The median single family home price in San Benito County is currently $842,500 and the median condo/townhome price is $526,500.

Overall San Benito County inventory is down 20% for townhomes and condos, and 7% for single family homes in comparison to January 2021, but inventory is up since December 2021 by 100% for townhomes and condos.

For more information about the Santa Cruz County real estate market and surrounding counties in California, and whether now is the right time to buy or sell here, contact our office at any time.