South County Sales Week of October 15 - October 21, 2008
Date: Wednesday October 22, 2008Posted in: real estate market, real estate, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics, pending sales, list price, housing inventory, housing
Residential sales were up 58% from last week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy. There were 40 residences that went from active to pending status. Of these, 33 were single family homes and 7 were condo/townhouses. This week marks the first week that I’ve had the “below $200,000 price range” as a category for price ranges.
Of these sales, the list price ranges were:
Below $200,000 = 4 sales (10% of total)
$200,000 - $500,000 = 24 sales (60% of total)
$500,000 - $800,000 = 8 sales (20% of total)
$800,000 - $1,200,000 = 3 sales (7.5% of total)
$1,200,000 - $2,000,000 = 1 sale (2.5% of total)
As of October 21, 2008, there are 741 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 243 pending residential listings. Therefore, 25% of the listings are pending under contract as of this date. We’ve managed to stay at this ratio of roughly 25% for the past 6 weeks.
Tune in next week for an update on the number of sales in South Santa Clara County!
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