South County Sales Week of November 12 – 18, 2008

Quite a jump in sales last week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy – especially considering that it is mid November!  There were 38 residences that went from active to pending status.  Of these, 36 were single family homes and 2 were condo/townhouses. 

Of these sales, the list price ranges were:

Below $200,000 = 1 sale (3% of total)

$200,000 – $500,000 = 26 sales (68% of total)

$500,000 – $800,000 = 8 sales (21% of total)

$800,000 – $1,200,000 = 2 sales (5% of total)

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

As of November 18, 2008, there are 719 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 228 pending residential listings.  Therefore, 24% 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!