Curious how the market's going?  This information shows market trends for Morgan Hill through August 2013.

Morgan Hill added over 60 new listings in August 2013 to help arrive at the total metrics shown in this chart.

Of those homes making their way to the market, seven were under $400,000 and nine were over one million dollars; that leaves a lot in the middle.

There's always a housing market and you might be surprised by the results!  The Seller's market we've experienced is showing signs of decline as we go into the cooler months.

How does that measure up when we start talking dollars and cents?

The trend data here indicates average sales prices are on the decline.

For sellers, this may be a signal that buyers are being more selective in their purchasing decision.  Getting a current comparative market analysis can be helpful to determine the most likely sales price to list your home.

While the housing market has begun to cool somewhat, the average prices are still higher than they were a year ago.

Since we don't know what tomorrow will bring, if you've been thinking about buying or selling a home, now is a good time to consider all your options!

How long will it take to sell my home in this market?

CDOM, or Continuous Days on Market, is one indicator of how long, on average it takes to sell a home in this market.

Also shown here is the measurement of how the sales price performed against the original list price.  This is an important factor when determining what to list your home for.

The answer to both how long it will take and how much you should list for is, it depends.

The location and condition of your home weigh heavily in attracting a buyer.  Determining the right price up front will help you get a buyer and proceed through escrow more quickly.

You have control over the condition.  Be sure your home is kept clean and tidy.  It also needs to be available.  Buyers DO NOT like to buy what they can't see.

What does that boil down to in Average Price per Square Foot?

 The average price per square foot is much higher than it was a year ago.  One reason is the mix of homes being sold this year.

With many sales taking place in newer subdivisions, average price per square foot can increase.

We might expect to see continued fluctuations in our metrics as more new construction is completed and homes make it into the resale market.

Square footage is an interesting way to gauge pricing; but it should not be relied on as the only way.

Show Me The Data!

Where's the market going from here?

No one knows for sure and only time will tell.  Interest rates continue to increase although they're still very low when compared to years in the past.  That doesn't appear to be discouraging buyers.

If you are considering selling your home or buying a home, ask me about getting a no cost comparative market analysis.  I use data directly from the MLS (multiple listing service) which is the most current available.

All metrics and data provided here are published with permission from MLS and / or Trendgraphix, Inc.