South County Real Estate Sales Week of September 9 - 13, 2009
Date: Monday September 14, 2009Posted in: real estate, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics
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!
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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