Median home price in Morgan Hill CA for single family homes

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Real Estate Agent with Compass CalBRE# 01839597

 

Real Estate Update for Single Family Homes in Morgan Hill, CA 95037

These statistics show a sharp increase in the list price of single family homes currently listed in Morgan Hill, CA.  One major reason is that distressed properties are no longer dominating the market and inventory is at very low levels.

Housing recovery continues as housing prices increase.  In 2012 home prices gained 4.9 percent nationwide according to Clear Capital's Home Data Index Market Report. The expectation for 2013 is that home values increase a modest 2.1 percent. Consumers expect home values to increase 2.6 percent (according to a Fannie Mae survey).  Not too bad since the 2013 gains will be measured against higher home prices (December 2012) after a full year of housing market recovery.

In California the median sale price of existing single family homes in November 2012 was $349,300 increased from $279,910 in November 2011.

Morgan Hill in California currently has 40 homes for sale ranging in price from $299,000 to $26,000,000. Median list price for single family homes in  Morgan Hill is $822,250 (excluding the highest priced property the median list price is $804,250. Only 2 properties offered for sale are distressed and much lower than the average for the state. A more detailed report is available upon request.

single family homes sold in willow glen CA, willow glen homes for sale, willow glen single family homes for sale, price of single family home in willow glen, living in Willow Glen CAA total of 71 single family homes in Morgan Hill are pending sale ranging in price from $210,000 to $1,848,000. Median list price for pending properties is $599,950. 40 Single family properties are distressed and it will take longer to close these sales or if not will come back on the market as distressed sales. A more detailed report is available upon request.


If you are searching for distressed properties for sale the availability has decreased significantly the second half of 2012 as shown by the statistics in this report.

Single Family homes sold in Morgan Hill during the first two weeks of January 2013. Median list price $567,000; median sale price $552,500. Homes were listed an average of 61 days.



 

 

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Anja K. Kerstens
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Comments (2)

David Saks
(retired) - Memphis, TN

Thanks for sharing the good news about your region. Nice to see what our colleagues and friends are doing throughout the nation.

Jan 16, 2013 01:58 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Anja, valuable information on Morgan Hill CA that buyers and sellers need to understand before jumping into the market.

Jan 17, 2013 03:30 AM