South County Sales Week of December 8 - 14, 2008
Date: Monday December 15, 2008Posted in: real estate, Morgan Hill, San Martin, Gilroy, listings
Sales just keep plugging along in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. Last week there were 28 residences that went from active to pending status. Of these, 25 were single family homes and 3 were townhouses/condominiums.
Of these sales, the list price ranges were:
Less than $200,000 = 1 sale (3% of total)
$200,000 - $500,000 = 16 sales (57% of total)
$500,000 - $800,000 = 8 sales (29% of total)
$800,000 - $1,200,000 = 3 sales (11% of total)
As of December 14, 2008, there are 668 residential listings active on the market in Morgan Hill, San Martin and Gilroy, and 231 pending residential listings. Therefore, 26% of the total listings are pending under contract as of this date, still a healthy number for this time of year. Many of the pendings are short sales and therefore take a long time to close. This could keep our pending percentage up artificially high.
Tune in next week for an update on the number of sales in South Santa Clara County!
2 Comments
Hi Harriet,
I’m hearing the same thing and I think what is pushing it is the drop in interest rates and what is being called the “Obama Big Bang” that will kick-swing the economy into activity. I think there are a lot of buyers and sellers waiting in the wings ready to act once they feel a renewed sense of confidence!
Gretchen
Comment by Gretchen Merrick on December 16th, 2008 @ 9:47 pmLine and paragraph breaks automatic, e-mail address never displayed, HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
Hi Gretchen,
I like how you show the current market statistics. I’m hearing optimism about next year and our market. What are you hearing?
Thanks,
Harriet Pecot
Comment by Harriet Pecot on December 16th, 2008 @ 8:01 am