South County Real Estate Sales Week of February 2 - 8, 2009
Date: Monday February 9, 2009Posted in: real estate, Morgan Hill, South Santa Clara County, San Martin, Gilroy, listings, pending sales, list price
Whew! The market was busy in south county last week! The number of residential sales jumped in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. There were 44 residences that went from active to pending status as compared to 38 last week. Of all the sales last week, 39 were single family homes and 5 were townhouses/condominiums. 69% of the sales were priced below $500,000.
Of these sales, the list price ranges were:
Below $200,000 = 2 sales (5% of total)
$200,000 - $500,000 = 28 sales (64% of total)
$500,000 - $800,000 = 9 sales (20% of total)
$800,000 - $1,200,000 = 4 sales (9% of total)
$1,200,000 - $2,000,000 = 1 sale (2% of total)
As of February 8, 2009, there are 569 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 261 pending residential listings. Therefore, 31% of the total listings are pending under contract as of this date. 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!
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