South County Weekly Real Estate Update
What’s new in the real estate market this past week in Morgan Hill, Gilroy and San Martin? See the table below for the eighteen new active residential listings. A Class 1 listing is a single family home and a Class 2 listing is a condo/townhouse. There were only two new condos on the market this past week in South Santa Clara County. Thirty-six residences went under contract last week with seventeen closed escrows.
NEW RESIDENTIAL LISTINGS FROM 1-18-12 THRU 1-26-12
South County Real Estate Weekly Update
NEW RESIDENTIAL LISTINGS 1-11-12 thru 1-18-12
South County Real Estate 2011 Year In Review
Wow! Another year come and gone. They seem to go faster with every year that passes.
Let’s take a look back at what the single family residence (SFR) real estate market did in the south Santa Clara County towns of Gilroy, Morgan Hill and San Martin. The following graphs include data from all three towns as a whole and only reflects the single family home properties.
First we’ll look at the NUMBER OF NEW SFR LISTINGS IN 2011 and then compare to the same data collected for the past 5 years. The number of new listings coming on the market in December was low, but not surprising for that time of year.
The next pair of graphs show the NUMBER OF CLOSED SFR LISTINGS IN 2011 and then compares it to 2007 – 2011. December 2011 produced a large jump in closed SFR listings in south county, even when compared to the previous five years.
The third pair of graphs show the MEDIAN DAYS ON MARKET FOR SFR LISTINGS DURING 2011 and compares it to 2007 – 2011. The median days to sell SFRs varied between the low 30s to high 70s this past year. This looks good compared to the peaks in 2007 and 2008.
And the last pair of graphs look at the MEDIAN SALE PRICE FOR SFR IN 2011 and compares it to 2007 – 2011. The median SFR sale price held pretty steady in south county for 2011. It has not altered too much during the past few years but is approximately 50% of the peak it reached during the real estate boom.
Click on any of the graphs for a larger view.
Number of New SFR Listings in South Santa Clara County in 2011
Number of New SFR Listings in South Santa Clara County 2007 - 2011
Number of Closed SFR in South Santa Clara County in 2011
Number of Closed SFR Sales in South Santa Clara County 2007 - 2011
Median Days On Market in 2011
Median Days on Market for 2007 - 2011
SFR Median Sale Price in South Santa Clara County 2011
SFR Medican Sale Price in South Santa Clara County 2007 - 2011
Quiet Gilroy Neighborhood Home
Looking for a lovely home in a serene neighborhood? It can be yours for the low price of $349,000. 7440 Santa Theresa Drive in Gilroy offers a 2078 sq.ft. home with 4 bedrooms and 2.5 bathrooms on a 6,969 sq.ft. lot. There is also a sparkling swimming pool.
The home boasts a huge eat-in kitchen, large family room with wood-burning fireplace, dining room area and formal living room all within a bright, open floor plan. The home has been freshly painted inside and out and also has brand new carpeting throughout the home. There is an attached 2-car garage, air conditioning and central forced heat.
The large, private backyard is perfect for entertaining with a swimming pool, large concrete patio partially covered by an arbor, and a grassy area.
Two Acres in Prime Location
We are all familiar with the real estate adage: location, location, location. This listing in Morgan Hill provides just that for those looking for a property that they can invest some tender loving care into and feel confident that their efforts will reap benefits in the future. Listed at $470,000 for two acres in a nice residential area, this property offers lots of potential and a great opportunity.
Features offered by this unique listing:
- Gorgeous views of the eastern foothills
- Four stall barn with tack room
- Three fenced pasture areas
- 1658 square foot main home circa 1940
- Main home includes 2 bedrooms each with an adjoining bathroom, huge living room, dining room with a fireplace, large sun-porch which could be used as a third bedroom and a partial 300 square foot basement
- 741 square foot guest house has a large living room, kitchen, one large bedroom and bathroom
- Air conditioning in main home and central forced air in both homes
- 2-car detached garage
- Quaint well house could be used for additional storage or a studio
- Within desirable Nordstrom School boundary
This property and location present a fantastic opportunity and value!
Price Reduction and Open House
Stop by my open house this afternoon, Sunday, September 25, 2011, between 1:00 – 4:00 to view 2760 Leavesley Road in Gilroy. The home has a brand new, attractive price of $769,000. This is a 5 bedroom, 3.5 bathroom 2790 square foot home on 6 flat acres. It is on a flag lot for added privacy. Come see the beautiful views of the eastern foothills as well as the many varieties of fruit trees in the orchard. If you’re looking for wide open spaces, this lovely home is for you!
2760 Leavesley Road, Gilroy
South County Real Estate Sales Charts
Looking back over the year of sales of single family residences in south Santa Clara County, what has sold and how does that compare to the number of homes currently for sale? What price ranges sell the most frequently in our real estate market?
First we’ll look at the Morgan Hill single family homes graphs. The first graph shows the number of single family homes for sale versus the number sold. The number for sale includes those homes that are active listings not under contract as well as those that are pending under contract.
Morgan Hill Homes For Sale vs. Sold
SFR Sales by Price Range in Morgan Hill
Gilroy Homes For Sale vs. Sold
SFR Sales in Gilroy by Price Range
San Martin Homes For Sale vs. Sold
SFR Sales in San Martin by Price Range
Price Reduction on Country Estate
2760 Leavesley Road in Gilroy, CA has just had a price “improvement” from $859,000 down to $825,000! For more information or to schedule a viewing, give Gretchen Merrick a call at 408-892-9015. Additional property details found at 2760LeavesleyRd.com.
July Real Estate Statistics for South County
Gilroy, Morgan Hill and San Martin real estate statistics for last month are as follows:
SINGLE FAMILY HOMES:
New listings: Gilroy: 78, Morgan Hill: 55, San Martin: 5
Total listings: Gilroy: 281, Morgan Hill: 236, San Martin: 33
Pending listings: Gilroy: 163, Morgan Hill: 116, San Martin: 16
Closed listings: Gilroy: 38, Morgan Hill: 40, San Martin: 74
Ave. Days on Mkt: Gilroy: 92, Morgan Hill: 74, San Martin: 31
Median Sales $: Gilroy: $423,244, Morgan Hill: $651,813, San Martin: $594,666
CONDOS AND TOWNHOUSES:
New listings: Gilroy: 2, Morgan Hill: 11
Total listings: Gilroy: 8, Morgan Hill: 48
Pending listings: Gilroy: 10, Morgan Hill: 28
Closed listings: Gilroy: 1, Morgan Hill: 4
Ave. Days on Mkt: Gilroy: 39, Morgan Hill: 94
Median Sales $: Gilroy: $209,000, Morgan Hill: $272,500
Currently the percentage of distressed active listings to the total number of active single family home and condo/townhouse listings in all three towns is 41%. Distressed properties are those that are listed as short sales or REOs.
Large, Custom Home in Pastoral Setting
Looking to get away from the hustle and bustle of big city life? 2760 Leavesley Road in Gilroy offers the serenity of rural living with easy access to highway 101 if you must tear yourself away. This approximately 2790 sq.ft. home on 6 acres is only 7 years old and so offers all of the modern conveniences. This home is offered for $859,000.
Come to the open house this Sunday, June 26, 2011 from 1:30 to 4:30 to see for yourself why this should be your next home!
The amenities include:
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Very private and serene location on flag lot
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5 bedrooms, 3.5 bathrooms
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Huge game room and possible sixth bedroom above garage with separate staircase (not included in square footage)
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Built in 2004, 7 years old
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Spectacular views of the mountains and countryside
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375 s.f. front veranda with built in lighting
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Gourmet kitchen with custom distressed alder cabinets, granite counter tops, stainless steel dual 30 inch ovens, microwave, dishwasher, sink
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Water filtration system in kitchen for drinking water
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9 foot ceilings throughout home
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Ceiling fans throughout residence
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Upgraded 2×6 wall construction
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All walls, floors and ceilings (interior and exterior) insulated
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Distressed alder hardwood floors
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Gorgeous rock fireplace in the family room warms the entire ground floor. EPA approved wood burning and plumbed for gas insert.
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Beautiful 40”(?) wide natural wood front door
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Attractive door hardware throughout home
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Downstairs master bedroom suite features jetted tub, two sinks, large walk-in closet, plumbed for gas fireplace
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Anderson double hung, dual-pane, low-emission wooden windows in the living room, family room and kitchen. Milgard dual-pane, low-emission vinyl windows in rest of residence
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Mud room with full bathroom
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Custom paint colors throughout home
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50 year composition roof with thermostat controlled attic fan
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Entire home fire sprinklered
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Hot water recirculating system
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Dual-zoned heating and air conditioned cooling
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Additional storage
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Gentleman’s orchard: peaches, nectarines, apricots, plums, Fuji and Granny Smith apples, Bing and Van cherries, Bartlett pears, Asian pears. All irrigated by drip system
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All landscaping is irrigated by sprinklers or drip system
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3 car oversized 1000 s.f. garage with built-in storage and 8 ft tall insulated garage doors
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Large asphalt driveway with plenty of spare parking
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400 amp electrical panel
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Generator backup electrical system
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Separate mechanical room with water softener, 75 gallon commercial water heater and furnace
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Property already preapproved for detached guest house and two out buildings
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Private well with 3 tanks. Dual pressure pumps and pressure tanks – excellent water pressure to residence and to all points of the property
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Site plans include future granny unit and ag buildings with existing electrical to house sufficient to provide power to future buildings and pool. 400 amp sub panel
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Huge back yard, post and wire fencing with partial landscaping all irrigated by drip/ 1.5” pressurized water line in the ground and stubbed off along back yard fence and orchard for future use in other areas on the property. 2” pressurized water line from well to west end of property at Ferguson Road
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Batting cage
Gretchen Merrick
cell (408) 892 9015
