Curious about the housing market in San Martin? 

If you aren't from around these parts, these trends may seem very strange.  San Martin is a close-nit community in the unincorporated area between Gilroy and Morgan Hill.  Residents who call San Martin home represent an integral part of Santa Clara County in all aspects; least of which is real estate.

July 2013 wrapped up with 18 single family homes for sale according to the MLS (Multiple Listing Service).  Along with data from the MLS, these graphs are provided to you with permission of Trendgraphix, Inc.

Market Activity Trends:  What are sales doing over time?

This view shows homes actively for sale and  those going through escrow during the month of July as well as completed sales.

Of the homes still active, prices range from $449,000 to $7,999,950. 

The large variance in home prices presents challenges in determining trends all by itself.  When you add the enormous variations in residential styles and lot sizes, it's best to take a moment to make sure the apples you're comparing aren't pears in disguise.

While these charts provide the overall residential trending information, subsets of this data specific to the situation are available.

Median Pricing:  What's in a number?

Of the single family homes, 1 was priced under $500,000; five were price from $500,000 to $1,000,000 and 12 were listed for over $1,000,000.  This, along with considering only two closed sales, helps to explain why the median home price sold in July was $1,398,000.

Average Price Per Square Foot: How this compares to your home

When presented in this trend information, the average price per square foot (SQFT used in graph) is based on the sales price and how many square feet the home itself has.

The size of the lot is not taken into consideration nor is the quality or age of the construction.  This is why it's so important to have a current comparable market analysis done when pricing your home for sale AND when you're deciding how much to offer when buying one.

Market Trends: Behind the graphs

For some, a picture is worth a thousand words - for others, a thousand words are better than the picture.  Below are the numbers supporting the graphs provided in this blog post. 

Thank you for your interest in what the housing market is doing in San Martin and I hope these July 2013 trends are helpful to you.  They are no substitute to getting a current evaluation of your specific situation.  I would be delighted to discuss this information with you in more detail and drill down to the facts that matter to you. 

If you're curious about the market price for your home or are ready to buy a home, ask me for a free comparable market analysis.  This analysis is not a substitute for an appraisal, but it's a great starting point and you can't beat the price!

As always, let's foresee the possibilities . . . and get results!