Archive for June, 2009
South County Real Estate Sales Week of June 15 – 21, 2009
Sales slowed up a bit this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy but many of the homes sold had been on the market at least 100 days – so sellers take heart and hang in there! There were 33 residences that went from active to pending status as compared to last week’s 46. Of all the sales this past week, 30 were single family homes and 3 were townhouses/condominiums. The highest priced listing sold last week was 3480 Bluegrass Court in Morgan Hill, a 2630 s.f. home on a 28,750 s.f. lot in Holiday Lake Estates priced at $950,000 that had been on the market for 395 days. The lowest priced listing sold last week was a bank-owned condo at 1271 Juniper Dr. #9 in Gilroy, a 742 s.f. condo priced at $98,000 (below $100,000!) Sixty percent of the sales this week were priced under $500,000 and10% were above $800,000.
Of these sales, the list price ranges were:
Below $200,000 = 4 sales (12% of total)
$200,000 – $500,000 = 16 sales (48% of total)
$500,000 – $800,000 = 10 sales (30% of total)
$800,000 – $1,200,000 = 3 sales (10% of total)
As of June 21, 2009, there are 332 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 380 pending residential listings. Therefore, 53% of the total listings are pending under contract as of this date. However, many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Twenty-nine 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 11.45 weeks to sell all south county listings. Therefore, as of this past week, we have 3 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 June 8 – 14, 2009
Sales jumped up this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy, although no homes priced above $900,000 were sold. There were 46 residences that went from active to pending status as compared to last week’s 32. Of all the sales this past week, 39 were single family homes and 7 were townhouses/condominiums. The highest priced listing sold last week was 18175 Carriage Drive in Morgan Hill, a 3728 s.f. home priced at $899,000 that had been on the market for 343 days. The lowest priced listing sold last week was a bank-owned condo at 7598 Monterey Street, #260 in Gilroy, a 706 s.f., 3 year old condo priced at $110,000 and located in the new mixed used development in downtown Gilroy. Sixty-three percent of the sales this week were priced under $500,000 and only 4% were above $800,000.
Of these sales, the list price ranges were:
Below $200,000 = 2 sales (4% of total)
$200,000 – $500,000 = 27 sales (59% of total)
$500,000 – $800,000 = 15 sales (33% of total)
$800,000 – $1,200,000 = 2 sales (4% of total)
As of June 7, 2009, there are 336 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 388 pending residential listings. Therefore, 54% of the total listings are pending under contract as of this date. However, many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Seventeen 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 19.8 weeks to sell all south county listings. Therefore we have 5 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 June 1 – 7, 2009
This past week saw a decline in the number of sales in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy, possiblya reaction to the jump in interest rates several weeks ago. There were 32 residences that went from active to pending status as compared to last week’s 42. Of all the sales this past week, 28 were single family homes and 4 were townhouses/condominiums. The highest priced listing sold last week was 1610 Arguello Court in Morgan Hill, a 4059 s.f. home on a 18,360 s.f. lot priced at $1,275,000 and a former Alicante model home. The lowest priced listing sold last week was a bank-owned single family home at 7361 Eigleberry Street in Gilroy, a 1856 s.f. 3/2 home on a 7000 s.f. lot priced at $146.200. Gilroy has some great bargains these days. Sixty-nine percent of the sales this week were priced under $500,000 and 12% were above $800,000.
Of these sales, the list price ranges were:
Below $200,000 = 3 sales (9% of total)
$200,000 – $500,000 = 19 sales (60% of total)
$500,000 – $800,000 = 6 sales (19% of total)
$800,000 – $1,200,000 = 3 sales (9% of total)
$1,200,000 – $2,000,000 = 1 sale (3% of total)
As of June 7, 2009, there are 354 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 382 pending residential listings. Therefore, 52% of the total listings are pending under contract as of this date. However, many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Twenty-two 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 16.1 weeks to sell all south county listings. Therefore we have 4 months supply of inventory.
Tune in next week for an update on the number of sales in South Santa Clara County!
active listings gilroy morgan hill pending listings real estate real estate listings residential listings santa clara county san martin single family sq ft home
South County Real Estate Sales Week of May 25 – 31, 2009
Residential real estate sales dropped slightly this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. There were 42 residences that went from active to pending status as compared to last week’s 47. Of all the sales this past week, 40 were single family homes and 2 were townhouses/condominiums. The highest priced listing sold last week was 19051 Clayton Avenue in the northern portion of Morgan Hill, a 3090 sq.ft. home on a 22,000 s.f. lot priced at $1,199,000. The lowest priced listing sold last week was a bank-owned home at 23 Carlyle Court in Gilroy priced at $148,500. Sixty-six percent of the sales this week were priced under $500,000 and 10% were above $800,000.
Of these sales, the list price ranges were:
Below $200,000 = 5 sales (11% of total)
$200,000 – $500,000 = 23 sales (55% of total)
$500,000 – $800,000 = 10 sales (24% of total)
$800,000 – $1,200,000 = 4 sales (10% of total)
As of May 31, 2009, there are 355 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 394 pending residential listings. Therefore, 53% of the total listings are pending under contract as of this date. Once again, this is a record amount! However, many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Twenty-two 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 16.14 weeks to sell all south county listings. Therefore we have 4 months supply of inventory.
Tune in next week for an update on the number of sales in South Santa Clara County!
Gretchen Merrick
cell (408) 892 9015
