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.
A 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.