South County Sales Week of October 22 - 28, 2008
Date: Friday October 31, 2008Posted in: real estate market, real estate, Santa Clara County, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics, residences, pending sales, housing market, list price, housing inventory
Another busy week last week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy. There were 43 residences that went from active to pending status. Of these, 41 were single family homes and 2 were condo/townhouses. This past week there were more sales in the higher price ranges than compared to some of the previous weeks. For comparison, look at my previous weekly posts on Wednesdays.
Of these sales, the list price ranges were:
Below $200,000 = 1 sale (2% of total)
$200,000 - $500,000 = 22 sales (51% of total)
$500,000 - $800,000 = 12 sales (28% of total)
$800,000 - $1,200,000 = 5 sales (12% of total)
$1,200,000 - $2,000,000 = 3 sales (7% of total)
As of October 28, 2008, there are 730 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 252 pending residential listings. Therefore, 26% of the listings are pending under contract as of this date.
Tune in next week for an update on the number of sales in South Santa Clara County!
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