Gilroy, Morgan Hill & San Martin Combined Housing Trends Year End 2013

The residential real estate market is continuing to grow in the southern most parts of Santa Clara County.  In this special year-end addition are full two years of residential trends available for your review.   

Homes:  For Sale - Sold - In Escrow (Pending)

As pointed out in the narrative of the graph, this area is still considered a Seller's market.  Here's an interesting data point, there were 1,285 homes that sold in 2013 according to MLS Listings.   This includes homes still in escrow on the last day of the year.  Some new construction sales are completed without going through the MLS, so total sales in 2013 is larger than reported here.

Home Affordability:  Average Price For Sale vs. Sold & Median Sales Price

Days on Market & Selling Price vs. List Price

There's little doubt that homes priced well sell faster.  Additional factors such as condition and availability to view also play key roles.  Consider that five years ago homes stayed active on the market longer.  The sold price was generally less than the original list price.  That doesn't sound like a market any of us wants to revisit.

What about homes that are taken off the market?  The combined trends of Gilroy, Morgan Hill and San Martin included 328 homes that were withdrawn, canceled or the listing expired.  The reasons vary as significantly as the properties themselves.

Average Price Per Square Foot - A Rough Yardstick

Always a popular discussion; the average price per square foot should be used as a "rough yardstick" in analyzing a home price.  The more information you have, the better your decision can be.

Numbers / Data Behind the Graphs:

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.

The combined housing market trend data for Gilroy, Morgan Hill and San Martin includes many factors which may not be indicative of your situation.  If you have questions or if you are looking for a solution, please contact me.

As always, let's foresee the possibilities . . . and get results!