The residential real estate market is continuing to grow in the southern most parts of Santa Clara County. We have 25% more homes for sale than we did last January. The number of properties entering escrow also indicates we'll likely see increasingly steady trends for the year ahead.
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, of the 282 homes addressed in the graph above, only 33 were distressed properties. Six bank owned properties were advertised between $275,000 and $640,000 while short sales ranged in price from $362,000 to $975,000.
Home Affordability: Average Price For Sale vs. Sold & Median Sales Price
Days on Market & Selling Price vs. List Price
There's little doubt that well priced homes sell faster. Additional factors such as condition and availability to view also play key roles.
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!
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