Gilroy Home Sales
Gilroy inventory for single family homes is down compared to the same period a year ago. As seen from the chart on the left the inventory is
down from 493 to 326 and the number of listings went down from 127 to 82. March of 2009 showed a healthy number of closed sales; up from 21 in March of 2008 to 55 just last month.
This is due to the more affordable home prices, tax incentives and current favorable interest rates.
Absorption rate has decreased. This reflects the time it will take for a new listing to be sold if no new homes come on the market and is important since it determines whether we are in a buyers or sellers market.
It is too early to predict where the market is going in the next few months. The March numbers are encouraging and if this trend continues we could see prices increase again.
Another hopeful sign: I noticed an increase in the list price of newly listed homes.
Selling Silicon Valley Real Estate - San Jose, Los Gatos, Morgan Hill, Gilroy - Your Premier Real Estate Resource - Serving the Silicon Valley, California
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Certified Distressed Property Expert. CDPE
Getting Short Sales Closed!!!
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Anja K. Kerstens
REALTOR®, CDPE, CHS and ASP®
DRE#01839597
Summit Realty Group
La Dolce Vita Home Staging
http://akerstens.com
anjakerstens@gmail.com
Buy or Sell with your area specialist and accredited home staging REALTOR® getting homes sold faster.
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