Morgan Hill Real Estate 2015 Review

Morgan Hill Real Estate 2015 Review.  Last year’s residential real estate market remained robust for all of 2015 with rising prices and depleted inventory.  Many homes sold quickly and with multiple offers.  Sellers, who were willing to price their properties at market value, reaped the benefits with over-asking offers and attractive terms.  Let’s look at the statistics behind the Morgan Hill Real Estate 2015 Review.  These graphs contain data on the sales of Single Family Residences (SFR).  All of these graphs were generated from data provided by MLSListings.com, our local Multiple Listings Service provider.

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Morgan Hill Number of New SFR Listings 2010 – 2015:

The Morgan Hill real estate market saw 618 single family residences enter the market in 2015 as compared to 623 in 2014.  Which is down five homes from 2014 or 1% decrease.

 

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Morgan Hill Median Sale Price 2010 – 2015:

The Morgan Hill real estate market brought a large jump in the median sale price in 2015.  The median sale price in 2015 was $820,000 which is up 10.7% from 2014.  The median sale price in 2014 was $741,000, an increase of $79,000 for 2015.  Median Sale price in 2010 was $590,000, 2015 it is up by $230,000 or 39%.

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Morgan Hill Number of Sales 2010 – 2015:

The Morgan Hill real estate market saw 490 home sales in 2015.   4 additional sales compared to 2014 and up 20% from 2010 or 80 additional homes sold.

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Morgan Hill Average Price/ Square Foot 2010 – 2015:

And, following in the footsteps of the rise in the median sale price in Morgan Hill saw a large increase in the price per square foot on single family residential sales.  In 2015 the price per square foot was $380.  In 2014 the price per square foot was $352.  Which means over one year the price has increased by 8%.

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Morgan Hill Average Days on Market 2010 – 2015:

The seller’s market conditions in Morgan Hill carried into the average Days On Market for single family residential sales.  In 2015 the average home sold in 40 days.  This number is down from 44 days or 9% from 2014 and down from 83 days in 2010 or 52%.