Sales ticked up last week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy.  Last week there were 24 residences that went from active to pending status.  Of these, 22 were single family homes and 2 were townhouses/condominiums. 

Of these sales, the list price ranges were:

Below $200,000 = 3 sales (12.5% of total)

$200,000 - $500,000 = 16 sales (67% of total)

$500,000 - $800,000 = 3 sales (12.5% of total)

$800,000 - $1,200,000 = 1 sale (4% of total)

$1,200,000 - $2,000,000 = 1 sale (4% of total)

As of January 4, 2009, there are 580 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy, which is 41 less than last week and 88 less than 3 weeks ago.  There are currently 222 pending residential listings.  Therefore, 28% of the total listings are pending under contract as of this date.  Many of the pendings are short sales and therefore take a long time to close.  This could keep our pending percentage up artificially high. 

Tune in next week for an update on the number of sales in South Santa Clara County!

Not surprisingly, sales were light during the week of December 22 through 28 in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy.  Last week there were 16 residences that went from active to pending status - down from 39 sales the previous week.  Of these, 13 were single family homes and 3 were townhouses/condominiums. 

Of these sales, the list price ranges were:

Below $200,000 = 1 sale (6% of total)

$200,000 - $500,000 = 11 sales (69% of total)

$500,000 - $800,000 = 2 sales (13% of total)

$800,000 - $1,200,000 = 1 sale (6% of total)

$1,200,000 - $2,000,000 = 1 sale (6% of total)

As of December 28, 2008, there are 621 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy, and 228 pending residential listings.  Therefore, 27% of the total listings are pending under contract as of this date, still a healthy number for this time of year.  Many of the pendings are short sales and therefore take a long time to close.  This could keep our pending percentage up artificially high. 

Tune in next week for an update on the number of sales in South Santa Clara County!

Lower priced listings sold robustly in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy.  Last week there were 39 residences that went from active to pending status.  Of these, 37 were single family homes and 2 were townhouses/condominiums.  The number of active listings in our area was reduced by 30 since last week!  Many sellers choose to remove their listings from active status during the winter holiday season.

Of these sales, the list price ranges were:

$200,000 - $500,000 = 28 sales (72% of total)

$500,000 - $800,000 = 6 sales (15% of total)

$800,000 - $1,200,000 = 4 sales (10% of total)

$1,200,000 - $2,000,000 = 0 sales

over $2,000,000 = 1 sale (3% of total)

As of December 21, 2008, there are 638 residential listings active on the market in Morgan Hill, San Martin and Gilroy - a drop of 30 active listing since last week, and 233 pending residential listings.  Therefore, 27% of the total listings are pending under contract as of this date, still a healthy number for this time of year.  Many of the pendings are short sales and therefore take a long time to close.  This could keep our pending percentage up artificially high. 

Tune in next week for an update on the number of sales in South Santa Clara County!

Sales just keep plugging along in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy.  Last week there were 28 residences that went from active to pending status.  Of these, 25 were single family homes and 3 were townhouses/condominiums. 

Of these sales, the list price ranges were:

Less than $200,000 = 1 sale (3% of total)

$200,000 - $500,000 = 16 sales (57% of total)

$500,000 - $800,000 = 8 sales (29% of total)

$800,000 - $1,200,000 = 3 sales (11% of total)

As of December 14, 2008, there are 668 residential listings active on the market in Morgan Hill, San Martin and Gilroy, and 231 pending residential listings.  Therefore, 26% of the total listings are pending under contract as of this date, still a healthy number for this time of year.  Many of the pendings are short sales and therefore take a long time to close.  This could keep our pending percentage up artificially high. 

Tune in next week for an update on the number of sales in South Santa Clara County!

This morning’s office meeting tour included one home in San Martin and four new homes at Eagle Ridge in Gilroy.

This cute home at 13365 Llagas Avenue in San Martin is priced at $679,000.  The 3 bedroom/2 bathroom, 1700 sq.ft. home has hardwood floors and lots of curb appeal.  It is a cozy home on a 12,000 sq.ft. lot with a large fenced backyard which the current owners use for storage.

This home would be perfect for someone who would like a large backyard to build a workshop or possibly an inlaw unit.  It may be overpriced for this current real estate market.

Next we visited four never-occupied homes in Gilroy at Eagle Ridge Golf Club.  Two of these homes come furnished and are decorated model homes.  The homes are located on Eagle Ridge Drive and Killarney Court.

These homes range in price from $799,000 to $999,000 and they have from 3 to 5 bedrooms with 3 to 4 bathrooms.  The square footage of the homes range from 3,048 to 3,772 sq.ft. and the lot sizes span from 7,917 to 11,764 sq.ft.  One of the homes has a gorgeous view of the 14th fairway.  All of the homes feature distinctive amenities including stainless kitchen appliances, upgraded surfaces, built-in entertainment centers and bookshelves and one home has a pebbletech pool.  These homes are well-priced.

As I mentioned in my last post, I showed a lot of bank-owned residences in Los Banos on Friday.  One thing that struck me was that for the most part (with a few exceptions), the properties were in good condition.  Out of the ten that we saw, at least half of them had been freshly painted and new carpet was installed.

This goes against what most people think of when they consider the condition of REOs and short sales.  But the condition of these homes is sometimes ”turn-key”, meaning that you could move into the home and not have to do anything.

In the south Santa Clara County cities of Morgan Hill, San Martin and Gilroy, there are currently 346 distressed residential properties that are either REOs (bank-owned) or short sales.  See my previous post that defines the meaning of these types of sales.  These homes range in price from $1,999,999 for a short sale at 12895 Ales Place in San Martin,

to $104,900 for a bank-owned townhouse at 7759 Murray Avenue in Gilroy:

Both of these properties appear ready to move into.

If you like the prices of the distressed properties that are on the market now but are reluctant to even look at them because you are concerned that all distressed properties are going to be terribly damaged, please reconsider.  As your agent, I can weed out the properties that are in poor condition and only show you the properties that require very little work to make them habitable.

Quite a jump in sales last week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy - especially considering that it is mid November!  There were 38 residences that went from active to pending status.  Of these, 36 were single family homes and 2 were condo/townhouses. 

Of these sales, the list price ranges were:

Below $200,000 = 1 sale (3% of total)

$200,000 - $500,000 = 26 sales (68% of total)

$500,000 - $800,000 = 8 sales (21% of total)

$800,000 - $1,200,000 = 2 sales (5% of total)

$1,200,000 - $2,000,000 = 1 sale (3% of total)

As of November 18, 2008, there are 719 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 228 pending residential listings.  Therefore, 24% of the listings are pending under contract as of this date. 

Tune in next week for an update on the number of sales in South Santa Clara County!

Sales were basically on par with the week before in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy.  There were 29 residences that went from active to pending status.  Of these, 28 were single family homes and 1 was a townhouse. 

Of these sales, the list price ranges were:

$200,000 - $500,000 = 20 sales (69% of total)

$500,000 - $800,000 = 6 sales (21% of total)

$800,000 - $1,200,000 = 2 sales (7% of total)

$1,200,000 - $2,000,000 = 1 sale (3% of total)

As of November 11, 2008, there are 730 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 216 pending residential listings.  Therefore, 23% of the listings are pending under contract as of this date.  This percentage is down slightly from the past few months.

Tune in next week for an update on the number of sales in South Santa Clara County!

Sales weren’t quite as robust this past week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy.  There were 30 residences that went from active to pending status.  Of these, 28 were single family homes and 2 were condo/townhouses. 

Of these sales, the list price ranges were:

Below $200,000 = 1 sale (3% of total)

$200,000 - $500,000 = 21 sales (70% of total)

$500,000 - $800,000 = 5 sales (17% of total)

$800,000 - $1,200,000 = 2 sales (7% of total)

$1,200,000 - $2,000,000 = 1 sale (3% of total)

As of November 4, 2008, there are 732 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 231 pending residential listings.  Therefore, 24% of the listings are pending under contract as of this date.

Tune in next week for an update on the number of sales in South Santa Clara County!

Another busy week last week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy.  There were 43 residences that went from active to pending status.  Of these, 41 were single family homes and 2 were condo/townhouses.  This past week there were more sales in the higher price ranges than compared to some of the previous weeks.  For comparison, look at my previous weekly posts on Wednesdays.

Of these sales, the list price ranges were:

Below $200,000 = 1 sale (2% of total)

$200,000 - $500,000 = 22 sales (51% of total)

$500,000 - $800,000 = 12 sales (28% of total)

$800,000 - $1,200,000 = 5 sales (12% of total)

$1,200,000 - $2,000,000 = 3 sales (7% of total)

As of October 28, 2008, there are 730 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 252 pending residential listings.  Therefore, 26% of the listings are pending under contract as of this date.

Tune in next week for an update on the number of sales in South Santa Clara County!

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Gretchen Merrick Phone:408-892-9015 gmerrick@interorealestate.com Featured Listings 16830 Edwin Jones Court Morgan Hill, CA 4 BR | 3 BA $749,000 More Details 16868 De Witt Ave Morgan Hill, CA 6 BR | 4.50 BA $849,999 More Details

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