Gilroy Real Estate 2015 Review

Gilroy Real Estate Market 2015 Review.  The Gilroy real estate market remained strong for the entire 2015 year, with continued low levels of inventory and rising prices.  Buyers often competed against each other for attractively priced homes, with the number of sales increasing over 2014.  Not a surprise, the median sale price and the price/square foot went up in excess of 7%.  Let’s look at the Gilroy Real Estate Market 2015 Review graphed statistics below for single family residences (SFR).  The graphs were generated from MLSListings.com, the regional multiple listing provider.

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Gilroy Number of New Listings 2010 – 2015:

The Gilroy real estate market saw 720 single family residences enter the market in 2015 as compared to 651 in 2014.  This number is up 69 listings or 10.6% from last year.

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Gilroy Median Sale Price 2010 – 2015:

The Gilroy real estate market also brought an increase in the median home price in 2015.  The median sale price in 2015 was $631,000 compared to $585,000 in 2014.  This number is up by $46,000, 7.9% increase.  Median Sale price in 2010 was $404,000, 2015 it is up $227,000 or 56%.

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Gilroy Number of Sales 2010 – 2015:

The Gilroy real estate market saw 565 single family residences close escrow in 2015.  This is up 78 from 2014 or a 16% increase in the number of sales.

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Gilroy Average Price/Square Foot 2010 – 2015:

The 2015 Gilroy real estate market saw a sizeable increase in price per square foot of sold listings.  In 2015 this amounted to $321/s.f. which was a 7.7% increase from 2014.  In 2014 the price per square foot was $298.  This positive trend has continued since 2010, when price per sq. foot was $222/s.f., 44.5% increase!

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Gilroy Average Days on Market 2010 – 2015:

In Gilroy the number of days on the market was very similar to Morgan Hill. In Gilroy the average home is on the market for 41 days.  Where as in 2014 the average home was on the market for 47 days.  In 2015 it was down 12.8%.  All-in-all, Gilroy homes sold quickly and for more money!  2015 was a great time to put your Gilroy home on the market and 2016 should be equally successful!