Archive for September, 2009
What’s Happening to Sales Prices in South County?
What’s been the trend in sales prices for south Santa Clara County real estate? I’ll break it down by city looking at detached single family residences:
Morgan Hill median Sold Prices, down 31% August ’08 vs. August ’09:
Gilroy median Sold Prices August ’08 vs. August ’09 down 9%:
San Martin median Sold Prices, down 58% August ’08 vs. August ’09:
Taste of Morgan Hill Event This Weekend!
Mosey on down to Morgan Hill’s charming downtown to experience the annual Taste of Morgan Hill Festival this weekend, September 26 – 27, 2009. The Chamber of Commerce organizes an excellent array of enticing activities and nibbles that draw people back year after year.
The expected 40,000 to 50,000 visitors will get to partake in:
- Fine arts and quality crafts
- Delicious food from local restaurants
- Award-winning wine and microbrew from local wineries and breweries
- Fun rides and entertainment
- Custom and Classic Car Show
- Quilt Show in the Community Center
All of the above including three food courts, two live music stages and a great Kid Zone with rides, crafts and children’s entertainment. What is holding you back?!
The Taste of Morgan Hill is from 10 a.m. to 6 p.m. this Saturday and Sunday. Find the fun downtown on Monterey Road between Main Avenue and Dunne Avenue.
How South Santa Clara County Schools Performed
2009 Academic Performance Index (API) scores are now available. How did the Morgan Hill Unified and Gilroy Unified School Districts perform?
MORGAN HILL UNIFIED
Elementary School
- Barrett 801
- Burnett 723
- Charter School 881
- El Toro 763
- Jackson 794
- Los Paseos 808
- Nordstrom 871
- P.A.Walsh 731
- Paradise Valley 870
- San Martin/Gwinn 768
Junior high school
- Britton 755
- Martin Murphy 743
High school
- Sobrato 770
- Live Oak 719
- Central Continuation 556
GILROY UNIFIED
Elementary School
- Antonio Del Buono 767
- El Roble 767
- Eliot 780
- Glen View 757
- Las Animas 814
- Luigi Aprea 857
- Rod Kelly 766
- Rucker 785
Middle school
- Brownell 751
- Solorsano 810
- South Valley 738
High school
- Gilroy High Not Available
- Gilroy Early College Acad. 894
- MACSA El Portal Leadership Academy 520
- Mt. Madonna 531
Above information taken from the San Jose Mercury News 9/16/2009.
South County Real Estate Sales Week of September 14 – 20, 2009
Sales remained steady in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy during the week of September 14 through September 20. There were 33 residences that went from active to pending status as compared to the previous week’s 31. This is down from the typical number of sales this summer when weekly sales numbered in the 40s. Of all the sales this past week, 29 were single family homes and 4 were townhouses/condominiums.
The highest priced listing sold last week was 1026 Llagas Road in Morgan Hill, a 4,893 s.f. bank-owned home on a 90,604 s.f. lot priced at $899,000. This home had been on the market for 44 days. 
The lowest priced listing sold last week was also a bank-owned condo at 7598 Monterey Street in Gilroy, a one bedroom/one bathroom priced at $78,900. This 3 year old property had been on the market for 54 days.
Seventy-three percent of the sales this week were priced under $500,000 and only 6% were above $800,000.
Of these sales, the list price ranges were:
Less than $200,000 = 5 sales (15% of total)
$200,000 – $500,000 = 19 sales (58% of total)
$500,000 – $800,000 = 7 sales (21% of total)
$800,000 – $1,200,000 = 2 sale (6% of total)
As of September 20, 2009, there are 287 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 378 pending residential listings. Therefore, 57% 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.
Only 15 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 weeks to sell all south county listings. Therefore, as of this past week, we have 4.8 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 September 9 – 13, 2009
Real estate sales numbered 31 in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy during the week of September 7th through 13th. There were 31 residences that went from active to pending status and the majority of these sales were in the low price ranges. Of all the sales this past week, 26 were single family homes and 5 condos a townhouses/condominiums. The highest priced listing sold last week was 1955 Killarney Court in the Eagle Ridge community Gilroy, a 4729 s.f. home on a 14,195 s.f. lot priced at $999,000. The lowest priced listing sold last week was at 1221 Juniper Drive #E in Gilroy, a 864 s.f. regular sale condo priced at $125,000. A whopping 84 percent of the sales this week were priced under $500,000 and only 3% were above $800,000.
Of these sales, the list price ranges were:
Less than $200,000 = 5 sales (16% of total)
$200,000 – $500,000 = 21 sales (68% of total)
$500,000 – $800,000 = 4 sales (13% of total)
$800,000 – $1,200,000 = 1 sale (3% of total)
As of September 13, 2009, there are 289 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 376 pending residential listings. Therefore, 57% 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.
Thirteen 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 22.2 weeks to sell all south county listings. Therefore, as of this past week, we have 5.5 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 August 24 – 30, 2009
Sales held steady this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. Last week there were 32 residences that went from active to pending status as compared to the previous week’s 33. Of all the sales this past week, 31 were single family homes and 1 was a condominium. The highest priced listing sold last week was 10748 Green Valley in Gilroy, a 3971 s.f. home on a 2.5 acres priced at $1,299,000. It had been on the market for 128 days. The lowest priced residence sold last week was a condo in Gilroy at 1221 Juniper Drive #E, a 864 s.f. home priced at $125,000. Only 50 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 = 6 sales (19% of total)
$200,000 – $500,000 = 10 sales (31% of total)
$500,000 – $800,000 = 13 sales (41% of total)
$800,000 – $1,200,000 = 2 sales (6% of total)
$1,200,000 – $2,000,000 = 1 sale (3% of total)
As of August 30, 2009, there are 282 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 367 pending residential listings. Therefore, 57% 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 11.7 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!
Gretchen Merrick
cell (408) 892 9015
