South County Real Estate Sales Week of July 27 - August 2, 2009
Date: Sunday August 23, 2009Posted in: Uncategorized
Sales remained steady in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy during the week of July 27 through August 2. There were 41 residences that went from active to pending status as compared to the previous week’s 42. Of all the sales this past week, 37 were single family homes and 4 were townhouses/condominiums. The highest priced listing sold last week was 18655 Castle Lake Drive in Morgan Hill, a 5,535 s.f. home on a 44,431 s.f. lot priced at $1,350,000. This home had been on the market for 246 days. The lowest priced listing sold last week was a rural home at 6760 Croy Road in Morgan Hill, a 1812 s.f. on about 10 acres priced at $169,900. This home had been on the market for 230 days. Seventy-three percent of the sales this week were priced under $500,000 and 7% were above $800,000.
Of these sales, the list price ranges were:
Less than $200,000 = 2 sales (5% of total)
$200,000 - $500,000 = 28 sales (68% of total)
$500,000 - $800,000 = 8 sales (20% of total)
$800,000 - $1,200,000 = 1 sale (2% of total)
$1,200,000-$2,000,000 = 2 sales (5% of total)
As of August 2, 2009, there are 314 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 356 pending residential listings. Therefore, 53% 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.
A whopping 30 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 10.5 weeks to sell all south county listings. Therefore, as of this past week, we have 2.6 months supply of inventory.
Tune in next week for an update on the number of sales in South Santa Clara County!
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South County Real Estate Sales Week of March 30 - April 5, 2009
Date: Monday April 6, 2009Posted in: Uncategorized
Real estate sales dipped this past week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. There were 44 residences that went from active to pending status as compared to last week’s 53. Of all the sales this past week, 42 were single family homes and 2 were townhouses/condominiums. The highest priced listing sold last week was a new construction listing at 1620 Arguello Court in Morgan Hill, priced at $1,175,000. The lowest priced listing sold last week was a bank-owned townhouse at 7753 Chestnut in Gilroy priced at $99,900. Sixty-six percent of the sales this week were priced under $500,000 as compared to 73% last week.
Of these sales, the list price ranges were:
Below $200,000 = 6 sales (14% of total)
$200,000 - $500,000 = 23 sales (52% of total)
$500,000 - $800,000 = 10 sales (23% of total)
$800,000 - $1,200,000 = 5 sales (11% of total)
As of April 5, 2009, there are 491 residential (single family homes and condos) listings active on the market in Morgan Hill, San Martin and Gilroy. There are currently 327 pending residential listings. Therefore, 40% of the total listings are pending under contract as of this date. We’ve come a long way since the single digit percentage pendings of early 2008! Many of the pendings are short sales and therefore take a long time to close. This keeps our pending percentage up artificially high.
Twenty-four residential real estate listings closed escrow during the past week in the south county towns of Morgan Hill, San Martin and Gilroy. Twenty-four properties would comprise 3% of the total active and pending listings and 7% of the pending listings.
Tune in next week for an update on the number of sales in South Santa Clara County!
Henry Coe State Park
Date: Sunday February 1, 2009Posted in: Uncategorized, Santa Clara County, Morgan Hill, Gilroy, Henry Coe State Park
My daughter was home this weekend, visiting from UCSB where she’s a freshman. I asked her what she’d like to do yesterday and she said that she’d like to go on a family hike. After the shock wore off that she didn’t say, “Go shopping,” we packed up some snacks and headed to Henry Coe State Park.
We have a treasure here in south Santa Clara County. Not only is Henry Coe State Park the largest state park in northern California, it is the second largest state park in all of California. Its 87,000 acres are covered with rugged terrain, beautiful vistas, meandering creeks, gorgeous flora and interesting fauna.
We drove to one of the Gilroy entrances called Hunting Hollow and began our ascent of Willson Peak. We climbed 2000 vertical feet in about 2.5 miles. Hard work, but the view at the top was worth it. From our 2,651 foot vantage point, we could see the snow covered peaks of the high Sierras all the way across the San Joaquin Valley. We only saw a few other hikers during our trek, and, considering what a beautiful day yesterday was, that is surprising.
Henry Coe State Park is an under-utilized gem here in the Bay Area and I feel fortunate to be able to claim it as one of the many fabulous assets that are offered to south county residents and visitors.
South County Real Estate Sales Week of December 22 - 28, 2009
Date: Monday December 29, 2008Posted in: Uncategorized, real estate, Morgan Hill, San Martin, Gilroy, listings, pending sales
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!
Even though I should be putting together all the necessary data for a listing appointment that I have in Santa Cruz tomorrow with some long-time clients, I can’t take my mind off of the election going on today. And I’ve procrastinated long enough today that results are coming in from the eastern states already. This is the most exciting election I can ever remember, and it’s the first one that my daughter is old enough to vote in. It warms my heart to see such a great voter turn-out. I’m optimistic about the results too - and I don’t remember feeling that way about an election in a long time either!
Okay, back to work….Good thing I voted last week!
Intero Takes Santa Clara County
Date: Thursday October 23, 2008Posted in: Uncategorized, real estate market, real estate, Santa Clara County, Morgan Hill, statistics, Intero Real Estate, market share
I work at the very first Intero Real Estate Services office to open back in 2002. Before this office opened, many of us had worked together previously in Morgan Hill, and so we all moved in together into what was a thriving office from day one. We opened the Morgan Hill branch of Intero on October 22, 2002.
There are now over 60 offices in several states and countries. And, in just 6 years of being in business, on October 22, 2008, there is a good possibility that we will arguably have #1 market share in Santa Clara County - The largest county in Northern California.
Our Intero office has always had the largest share of the real estate market in Morgan Hill. And soon we’ll be able to make the same claim about Santa Clara County. Click on the thumbnail graph below:
