South County Real Estate Sales Week of April 20 - 26, 2009
Date: Tuesday April 28, 2009Posted in: real estate, Morgan Hill, San Martin, Gilroy, statistics, listings, pending sales, list price, months supply of inventory
This past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy was quite active with a high number of residential sales. There were 52 residences that went from active to pending status as compared to last week’s 38. Of all the sales this past week, 48 were single family homes and 4 were townhouses/condominiums. The highest priced listing sold last week was 9805 Burchell Road in Gilroy, a 10 acre property priced at $1,450,000. The lowest priced listing sold last week was a short sale condo at 1231 Juniper Dr. #C in Gilroy priced at $97,500. Sixty-nine percent of the sales this week were priced under $500,000.
Of these sales, the list price ranges were:
Below $200,000 = 6 sales (11% of total)
$200,000 - $500,000 = 30 sales (58% of total)
$500,000 - $800,000 = 14 sales (27% of total)
$800,000 - $1,200,000 = 1 sale (2% of total)
$1,200,000 - $2,000,000 = 1 sales (2% of total)
As of April 26, 2009, there are 450 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 363 pending residential listings. Therefore, 45% of the total listings are pending under contract as of this date - an amazing amount. Many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Twenty residential real estate listings closed escrow during the past week in the south county towns of Morgan Hill, San Martin and Gilroy. If homes continued to sell at this rate it would take 22.5 weeks to sell all south county listings. Therefore we have 5.6 months supply of inventory.
Tune in next week for an update on the number of sales in South Santa Clara County!
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South County Real Estate Sales Week of April 13 - 19, 2009
Date: Monday April 20, 2009Posted in: real estate, Santa Clara County, Morgan Hill, San Martin, Gilroy, statistics, listings, months supply of inventory
Sales weren’t quite as robust this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy although 38 sales is not too shabby and several of the sales were in the high price range. There were 38 residences that went from active to pending status as compared to last week’s 47. Of all the sales this past week, 36 were single family homes and 2 were townhouses/condominiums. The highest priced listing sold last week was a new construction listing at 1405 Lakeview Court in CordeValle Estates in San Martin, priced at $1,999,000. The lowest priced listing sold last week was a bank-owned condo at 1221 Juniper Dr. #E in Gilroy priced at $94,900. Fifty-eight percent of the sales this week were priced under $500,000.
Of these sales, the list price ranges were:
Below $200,000 = 4 sales (11% of total)
$200,000 - $500,000 = 18 sales (47% of total)
$500,000 - $800,000 = 9 sales (24% of total)
$800,000 - $1,200,000 = 5 sales (13% of total)
$1,200,000 - $2,000,000 = 2 sales (5% of total)
As of April 19, 2009, there are 459 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 347 pending residential listings. Therefore, 43% of the total listings are pending under contract as of this date - an amazing amount. Many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Fifteen residential real estate listings closed escrow during the past week in the south county towns of Morgan Hill, San Martin and Gilroy. If homes continued to sell at this rate it would take 30.6 weeks to sell all south county listings. Therefore we have 7.6 months supply of inventory.
Tune in next week for an update on the number of sales in South Santa Clara County!
South County Real Estate Sales Week of April 6 - 12, 2009
Date: Monday April 13, 2009Posted in: real estate, Santa Clara County, Morgan Hill, San Martin, Gilroy, statistics, listings, pending sales, months supply of inventory
Another healthy round of real estate sales this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. There were 47 residences that went from active to pending status as compared to last week’s 44. Of all the sales this past week, 43 were single family homes and 4 were townhouses/condominiums. The highest priced listing sold last week was a new construction listing at 16100 DeWitt Avenue in Morgan Hill, priced at $1,895,000. The lowest priced listing sold last week was a short sale home at 555 Polk Court in Gilroy priced at $150,000. Fifty-eight percent of the sales this week were priced under $500,000 as compared to 66% last week and 73% week prior. This is a good trend to see.
Of these sales, the list price ranges were:
Below $200,000 = 6 sales (13% of total)
$200,000 - $500,000 = 21 sales (45% of total)
$500,000 - $800,000 = 13 sales (27% of total)
$800,000 - $1,200,000 = 5 sales (11% of total)
$1,200,000 - $2,000,000 = 2 sales (4% of total)
As of April 12, 2009, there are 463 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 342 pending residential listings. Therefore, 42% of the total listings are pending under contract as of this date - an amazing amount. Many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Eighteen residential real estate listings closed escrow during the past week in the south county towns of Morgan Hill, San Martin and Gilroy. If homes continued to sell at this rate it would take 25.7 weeks to sell all south county listings. Therefore we have 6.4 months supply of inventory.
Tune in next week for an update on the number of sales in South Santa Clara County!
South County Real Estate Sales Week of March 30 - April 5, 2009
Date: Monday April 6, 2009Posted in: Uncategorized
Real estate sales dipped this past week 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 last week’s 53. Of all the sales this past week, 42 were single family homes and 2 were townhouses/condominiums. The highest priced listing sold last week was a new construction listing at 1620 Arguello Court in Morgan Hill, priced at $1,175,000. The lowest priced listing sold last week was a bank-owned townhouse at 7753 Chestnut in Gilroy priced at $99,900. Sixty-six percent of the sales this week were priced under $500,000 as compared to 73% last week.
Of these sales, the list price ranges were:
Below $200,000 = 6 sales (14% of total)
$200,000 - $500,000 = 23 sales (52% of total)
$500,000 - $800,000 = 10 sales (23% of total)
$800,000 - $1,200,000 = 5 sales (11% of total)
As of April 5, 2009, there are 491 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 327 pending residential listings. Therefore, 40% of the total listings are pending under contract as of this date. We’ve come a long way since the single digit percentage pendings of early 2008! Many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Twenty-four residential real estate listings closed escrow during the past week in the south county towns of Morgan Hill, San Martin and Gilroy. Twenty-four properties would comprise 3% of the total active and pending listings and 7% of the pending listings.
Tune in next week for an update on the number of sales in South Santa Clara County!
