South County Real Estate Sales Week of August 24 - 30, 2009
Date: Thursday September 3, 2009Posted in: real estate, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics
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!
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
Line and paragraph breaks automatic, e-mail address never displayed, HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
