Let’s talk statistics
Date: Wednesday May 14, 2008Posted in: price, real estate, home, Morgan Hill, South Santa Clara County, San Martin, Gilroy, MLS, median price, statistics, contract
Here in the south Santa Clara County area consisting of Morgan Hill, Gilroy and San Martin, pending sales have risen as Spring progesses. In January of 2008, we had 56 single family residences (sfr) go under contract. In February, 2008, 68 went under contract. In March, 2008, 80 went under contract and in April, 2008, 123 went under contract which is a signifcant rise.
There are currently 825 sfr active listings in the south county area with 140 sales pending under contract.
For the month of April, 2008, the cumulative days on market (CDOM) is 116 compared to 92 from April of last year.
The average selling price in April for the south county is $607,283 which is a 30% drop from April of last year’s average of $868,560.
The median selling price in April for the south county is $605,777 which is a 25% drop from April of last year’s median of $807,345. I always feel the median price is a more accurate picture of what is happening in the market than the average price because it is easy to skew the average when a very expensive home sells.
These statistics were obtained from pro.mlslistings.com.
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