DataIndustry News

Coastal towns on different ends of prices and sales

A drop in inventory pushed median home prices up in several coastal regions
  • Monterey County saw 27 percent growth in sales of single-family homes in June year-over-year.
  • Santa Cruz County's inventory dropped 9 percent annually in June.
  • Single-family home sales in Santa Cruz County also dropped 26 percent since June 2015.

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Saying "coastal communities will always be a great investment" is a broad generalization that cannot always be quantified. Sure, beachfront property is popular, but MLSListings released a comparative study of Monterey, San Benito, San Mateo, Santa Clara and Santa Cruz counties that points out some startling figures. Monterey is going all the way up Single-family home sales in Monterey County increased 27 percent in June year-over-year. During the same period, sales grew 23 percent in San Benito County and 4 percent in San Mateo County. When pitted against Santa Cruz and Santa Clara counties, the numbers are a bit scary. This year's single-family home sales in Santa Cruz County are 26 percent below June 2015 and 2 percent lower in Santa Clara County. One positive is that all five counties showed growth in single-family home sales from May. Santa Cruz is the only county of the five that saw an annual drop in inventory (9 percent) for single-family homes. However, San Benito...