South County Real Estate Sales Week of August 17 - 23, 2009
Date: Monday August 24, 2009Posted in: real estate, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics, listings
Real estate sales numbered 33 in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy during the week of August 17 through August 23. There were 33 residences that went from active to pending status. Of all the sales this past week, 32 were single family homes and 1 was a townhouses/condominiums. The highest priced listing sold last week was my listing at 1845 Silverwings Court in Morgan Hill, a 3200 s.f. home on a 15,246 s.f. lot priced at $1,025,000. This short sale home sold quickly in 24 days. The lowest priced listing sold last week was a home at 256 2nd Street in Gilroy, a 842 s.f. on 2100 s.f. lot priced at $134,500. Fifty-eight percent of the sales this week were priced under $500,000 and 9% were above $800,000.
Of these sales, the list price ranges were:
Less than $200,000 = 3 sales (9% of total)
$200,000 - $500,000 = 16 sales (49% of total)
$500,000 - $800,000 = 11 sales (33% of total)
$800,000 - $1,200,000 = 3 sales (9% of total)
As of August 23, 2009, there are 291 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 368 pending residential listings. Therefore, 56% 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-four 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 12.1 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!
active gilroy home Homescopes listings Morgan Hill pending listings real estate real estate listings residential listings San Martin Santa Clara County single family sq ft
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