South County Real Estate Today

South County Sales Week of September 17 – September 23, 2008

September 29th, 2008 // Categorized under: Real Estate

The south Santa Clara County area of Morgan Hill, San Martin and Gilroy saw 28 active residential listings go to the pending status last week. This is the lowest number since I’ve been reporting on new pending sales, but still a healthy number for a week in September and much more robust than the numbers of sales we were seeing last winter. Of these 28 sales, 2 were condo/townhouse properties.

Of these sales, the list price ranges were:

$200,000 – $500,000 = 18 sales (64% of total)

$500,000 – $800,000 = 4 sales (14% of total)

$800,000 – $1,200,000 = 3 sales (11% of total)

$1,200,000 – $2,000,000 = 3 sales (11% of total)

As of September 23, 2008, there are 741 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 252 pending residential listings. Therefore, 25% of the listings are pending under contract. This is an encouraging number, especially when compared to the dismal number of sales last winter when the percentage of pending listings compared to total listings on the market was in the single digits.

Tune in next week for an update on the number of sales in South Santa Clara County!

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