As of today, there are 105 active residential properties available in Morgan Hill, 74 active in Gilroy and 17 in San Martin. As for residential real estate listings that are pending under contract, Morgan Hill has 122, Gilroy has 178 and San Martin has 18. I don’t think I’ve ever seen Gilroy’s inventory of active listings this low.
The following graph shows the active and pending residential real estate sales for all of Santa Clara County over the past six and a half years. It makes clear pictorially what a sellers’ market we’re having right now. The dark blue line depicts the active single family residences on the market in Santa Clara County and the pink line depicts the pending single family residences. The yellow line represents the active condos and townhouses on the market and the light blue shows the pending condos and townhouses. Notice how the number of actives in both cases are currently well below the number of pendings. Then compare to mid-2008. Double-click on the graph to enlarge.