Here is a graph of recnet (6 months) of sales prices in Gilroy, California. Many homes have been selling over list price due to low inventory and multiple offers for homes. There is a lack of inventory of available homes for sale in Gilroy, and a lot of the foreclosures and short sales have worked their way through the system.
We are seeing less and less foreclosures and short sales in this area. Gilroy, like the rest of Santa Clara County has seen a steady increase in the price of homes as of late. The market is full of buyers right now, and homes are selling rather quickly.
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