Are There Any Homes Left To Buy In Gilroy?
Why, yes there are, since you ask. This blog post shows not only trends from August 2012 through October 2013 but also a hit at what's available to buy now. I'd be delighted to tell you more when we get together!
Gilroy Homes For Sale vs. Sold vs. Pending (In Escrow)
You've probably heard the market slows in the fall after school starts but using this trend graph we see that October is a strong month for sales year after year in general. Consider the November and December 2012 activity - it's not too late to buy or sell this year.
According to the MLS on 11/11/13, there are 92 homes for sale in Gilroy right now. Here are the price ranges and how many homes are available.
| 20 Homes for sale | $199,990 - $499,950 |
| 32 Homes for sale | $510,000 - $699,000 |
| 19 Homes for sale | $740,000 - $998,500 |
| 21 Homes for sale | $1,000,000 and over |
At the upper price end of the homes for sale we find seven ranging in price from $2,198,000 to $3,988,000.
A Closer Look at Average and Median Pricing
Average and median sold home prices are positive in October 2013 over last October. When studying trends, be sure to consider all the factors so you understand what is driving them.
Continuous Days on Market & List Price Performance
In this view we consider how many days a home stays active on the market before an offer is accepted by the seller. You'll also note the sales price compared to the original list price in a percentage.
Some homes will remain on the market longer than others because of their situation. Maybe they're located near the largest lost planet disposal site on earth (not here, by the way) - that can be a factor which would keep a home on the market longer.
Another factor is the original list price. Take a look at the July 2013 line in this chart where it shows the average CDOM (Continuous Days on Market) was 97 days and the sales price to list price ration was 95%. This would suggest one or more homes were offered for sale higher than the market would bear.
Of the 92 homes for sale today, we have 17 which have been on the market more than 100 days with the longest lasting 516 days so far. it's likely finding the right buyer for these properties more than the price that's causing the delay. Will that right buyer be you or someone you know?
Gilroy Average Price Per Square Foot
Average prices should be used as a rough yardstick in measuring value of homes unless each home is identical. There are different locations, materials, styles and so many other factors that need to be considered.
Of the homes actively for sale today, the square feet ranges dramatically. Consider the extremes with these current examples:
| Price |
Dwelling Sq Feet |
Price Per Square Foot |
Land |
|
| Lowest Price | $199,990 | 900 | ~ $222 | Approx 1 Acre |
| Highest Price | $3,988,000 | 7,300 | ~ $546 | Approx 4.5 Acres |
Using the average price per square foot is less than helpful if the home you are evaluating has a smaller yard and perhaps a dwelling with square footage somewhere between the examples shown.
My free comparative market analysis (CMA) takes into account like properties and are specific to your situation.
Numbers behind the trends:
All data is provided with input from MLS Listings and Trendgraphix, Inc. which includes copyrighted data and/or graphs and is provided here with permission.
If you have questions or if I can help you find the answers for your situation, please let me know.
As always, let's foresee the possibilities . . . and get results!
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