It's been an interesting year so far in Gilroy, Morgan Hill, San Martin and the surrounding areas!
Leading off we look at the level of activity in terms of how many single family homes and condos/townhomes were tracked through the multiple listing service (MLS).
An interesting data point to consider is the 212 active residences actively for sale according to the MLS as of 9:50 p.m. on 11 October 2013.
The potential sales volume for active and pending (home sales in escrow) was over $320 million at the end of September; making South Santa Clara County an area to be reckoned with.
Moving on, let's look at median and average prices:
Not surprising for this time of year, the prices have settled down a bit. The significant price performance (up more than 25% over last year reported by Trendgraphix) indicates much of the impact of the downturn has been recovered. The number of short sales and bank owned properties is also considerably lower.
Not all homes have recovered their pre-downturn levels. To find out about your situation, contact me for a complimentary comparable market analysis.
So, how long does it take to sell in this market?
First, a couple of hints: Avg CDOM indicates the average cumulative days on market and SP/Orig LP% calculates the sales price when compared to the original list price.
Homes are still generally selling quickly. These averages include homes that sell the first day they're listed as well as some which have been on the market for months. Every home has a buyer when the conditions, including timing, are right.
You'll also note that the sales prices are tracking closely to the original list price. This is indicative of sound comparable market analysis based on recent sales.
Average price per square foot is a popular "yardstick"
Another frequently asked question is what's the average price per square foot. This chart gives us another view of the home values generally trending upwards over time.
Considering the wide variability of construction styles in this area, use of this rough yardstick should not be solely relied on.
Feeling the need to crunch numbers?
Here are the metrics behind the charts for all of you who like to see the numbers.
All of the data furnished in this post has been provided with permission from Trendgraphix and MLSListings.
If you have questions or would like more information about this posting and how your home interests fit in, we'll get together and go through everything.
As always, let's foresee the possibilities . . . and get results!
If you checked earlier and didn't see the graphics . . . all is correct now. Thank you for your patience!
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