How's the market?
Well, that all depends on your interest!
The market is always fluctuating and much of the data we rely on is based on recent trends. Regardless of whether you're an investor, a buyer planning to occupy the property or a seller considering your options - you want to know where the prices are and whether they're trending up or down.
30,000 Foot Level (Residential Properties in Morgan Hill, CA; 1/1/13-6/30/13):
List Price: Sold Price:
High $4,800,000 $1,600,000
Low $ 128,000 $ 157,500
Average $ 727,770 $ 623,908
Median $ 649,999 $ 622,500
As June ended, we discovered a few interesting data points. For example:
Single Family Homes (Not Townhomes or Condos):
- There were 73 single family homes activily listed for sale. The average price per square foot was $345.71 and they had been on the market an average of 73 days.
- Two hundred twenty five (yes, 225!) homes sold and closed escrow. The average price per square foot was $307.58. The average time these homes were on the market was 75 days with one property holding out over 1200 days before being united with a new owner.
- An additional 69 single family homes were in contract making their way through escrow.
Townhomes and Condos (Not Single Family Homes):
- There were 12 homes activily listed for sale. The average price per square foot was $310.39 and they had been on the market an average of 15 days.
- 39 homes sold and closed escrow with an average price per square foot was $244.34. The average time these homes were on the market was 52 days with one property holding out over 640 days before being united with a new owner.
- An additional 19 homes were in contract making their way through escrow.
This market report has been compiled using data recorded in the MLS which captures the majority of residential real estate transfers.
Please contact me if you have questions about this data or would like to discuss the market and how it applies to you.
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