Countywise Report for December 2014
The actual numbers show homes sold in Dec 2014 was less than Dec 2013.However, looking closely at the Sales Price/List Price % and Days on market shows that the market is very much a sellers market.Buyers were chasing less inventory and offering way over asking prices to get into contract.It took less days to sell a home as compared to Dec 2013.
Countywise Homes Sales
Number of homes sold was analyzed for 7 Counties.
- All Counties except San Benito saw a drop in volume compared to corresponding period in Dec 2013.
- Counties in Contra Costa, Monterey, San Benito and Santa Cruz saw an increase in volume in Dec 2014 compared to Nov 2014.
- On the flip side San Benito County saw an increase in volume in Dec 2014 compared to Dec 2013.
- Number of homes sold in December 2014 was 3930 compared to 4310 in December 2013.Since metrics like SP/LP% and Days on Market improved over last year,the reduced sales numbers can be attributed to lack of inventory.
- 3 out 7 counties evaluated had sales closings over asking price in the month of Dec 2014.
- The situation was similar in Dec 2013. with 4 out of 7 cities having sales over asking.
- Average SP/LP% was 100.43% compared to 99.56% in Decemeber 2013.
Countywise Days on Market ( DOM)
- Listings in 4 counties out of 7 counties reviewed took less time to sell, as compared to listings sold in Dec 2013.The gainers were Alameda (66), Contra Costa (81), Monterey (106) and San Mateo (69).
- Listings in Contra Costa County (81), Monterey County (106), San Benito (122) and Santa Cruz County (92) took 80 or more days to sell
- All other counties fell between an average between 51-79 days.
- Average DOM in Dec 2014 was 81 days compared to Average DOM of 86 days in Dec 2013.
Countywise Average Prices
- Countywise Average sales price was analysed for 7 Counties for last 1 year.
- All Counties saw a price increase in Dec 2014 compared to last Dec 2013.
- All Counties except Alameda County saw an increase in price compared to previous month of Nov 2014.
- Average Sales price in Dec 2014 was $965,796 compared to Average Sales Price of $788,505 in Dec 2013.