Are There Any Homes Left To Buy In Morgan Hill?
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!
Morgan Hill Homes For Sale vs. Sold vs. Pending (In Escrow)
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 85 homes for sale in Morgan Hill with a total aggregated list price of approximately $85.7 Million right now. Here are the price ranges and how many homes are available.
| 13 Homes for sale (0-499) |
$290,000 - $499,999 |
| 25 Homes for sale (500-699) |
$504,631 - $699,000 |
| 25 Homes for sale (700-1M) |
$729,000 - $999,999 |
| 21 Homes for sale (1M+) |
$1,025,000 and over |
At the upper price end of the homes for sale we find seven ranging in price from $2,250,000 to $4,800,000.
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. A properly priced home is likely to sell faster than one out of step with the market.
Of the 85 homes for sale today, we have 22 which have been on the market more than 100 days with the longest lasting 819 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?
Morgan Hill 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. With $292 per square foot being the average in October 2013, consider the extremes with these current examples:
| Price |
Dwelling Sq Feet |
Price Per Square Foot |
Land |
|
| Lowest Price | $290,000 | 600 | ~ $483 | Approx 1/4 Acre |
| Highest Price | $4,800,000 | 4,000 | ~ $1,200 | Approx 26 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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