The Gilroy housing market is still in motion!
This blog post shows not only trends from September 2012 through November 2013 but also a hint 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)
Our real estate activity has not gone dormant like the grass and it's not wilting from the freeze - it's not too late to consider buying or selling this year.
According to the MLS on 12/10/13, there are 101 homes for sale in Gilroy right now. That's up from 92 the same time just last month! Here are the price ranges and how many homes are available.
| 19 Homes for sale | $0 - $500,000 |
| 37 Homes for sale | $500,001 - $700,000 |
| 28 Homes for sale | $700,001 - $1,000,000 |
| 17 Homes for sale | $1,000,001 and over |
This summary includes single family residences, town homes and rural residential properties so long as they have at least one bedroom noted in the listing. Details are available for the asking.
A Closer Look at Average and Median Pricing
Average and median sold home prices are positive in November 2013 over last November by more than 20%. 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.
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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