South County Real Estate Sales Week of March 9 - 15, 2009
Date: Monday March 16, 2009Posted in: real estate, Santa Clara County, Morgan Hill, San Martin, Gilroy, statistics, listings, pending sales, list price
Real estate sales held steady this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. There were 37 residences that went from active to pending status and last week there were 39. Of all the sales this past week, 35 were single family homes and 2 were townhouses/condominiums. The highest price listing sold last week was a home located at 17027 Heatherwood Way in Morgan Hill, priced at $1,199,950. The lowest priced listing sold last week was 7468 Church Street, a single family bank-owned home in Gilroy priced at $144,900. Seventy-five percent of the sales were priced under $500,000.
Of these sales, the list price ranges were:
Below $200,000 = 2 sales (5% of total)
$200,000 - $500,000 = 26 sales (70% of total)
$500,000 - $800,000 = 8 sales (22% of total)
$800,000 - $1,200,000 = 1 sale (3% of total)
As of March 15, 2009, there are 535 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 288 pending residential listings. Therefore, 35% 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.
Sixteen residential real estate listings closed escrow during the past week in the south county towns of Morgan Hill, San Martin and Gilroy. Seventeen properties would comprise 2% of the total active and pending listings and 6% of the pending listings.
Tune in next week for an update on the number of sales in South Santa Clara County!
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