Strong Finish to 2020 & Heated Start to 2021
Our January report focused mostly on 2020’s annual statistics. This report will put most of its attention on quarterly and monthly indicators, which better illustrate changes occurring as 2020 progressed and 2021 began.
Sales volume in January increased approximately 45% above January 2020, a very substantial year-over-year increase. As is the norm, new listings started to come on market in increasing numbers after hitting the usual, annual low point in December. The number of new listings was up 24% on a year-over-year basis, while the number of listings going into contract was up 39%.
In most of the markets around the Bay Area – but especially those with more urban concentrations – condo markets were generally softer in 2020 than house markets. This was the case in Santa Clara County, as illustrated in a few of the charts and tables in this report.