Curious of what is going on in the Gilroy & Morgan Hill Real Estate market during the month of February, along with a year over year comparison? Here is the real estate market report for February 2019.
Gilroy & Morgan Hill Real Estate Activity for February 2019 vs February 2018
In February 2019 there were 51 homes that closed in Gilroy and Morgan Hill This is 11 less than February 2018.
The median sale price for homes that closed in February 2019 was $795,000
The median sale price for homes that closed in February 2018 was $857,139
The average Days on the market (DOM) for the homes that closed in February 2019 was 46 days.
The average Days on the market (DOM) for the homes that closed in February 2018 was 23 days.
The total amount of volume for the homes that closed in February 2019 was $43,962,849
The total amount of volume for the homes that closed in February 2018 was $59,588,373
Homes Under Contract in Gilroy and Morgan Hill for February 2019
There were a total of 73 homes in Gilroy and Morgan Hill that are under contract or sale “pending” through March 3rd, 2019. The average market time for these 73 homes was 54 days. The median list price for these homes under contract was $845,000
Current Gilroy & Morgan Hill Homes for Sale Inventory Levels
There are currently 91 Homes on the market in Gilroy and Morgan Hill. The median list price is $874,000. The average market time (days on the market) for these homes is 50 days (DOM). Homes in this community are still selling in 30 days or less, if priced properly.
The market absorption rate, as of March 3rd, 2019 was 1.72 months for Gilroy and Morgan Hill. This means that if no other home in Gilroy and Morgan Hill were put on the market, it would take 1.72 months to deplete the remaining homes on the market. How can both buyers and sellers have an advantage in the real estate market? Employ the services of a local real estate agent who has vast knowledge and experience of the market.
The above statistics are only for single family homes and do not include condominiums, townhouses or multi-family homes.
Find Gilroy and Morgan Hill Homes for Sale
For a complete list of available real estate, homes and ranches in Gilroy and Morgan Hill, visit www.sethmuenzer.com/Gilroy|Morgan Hill. Make sure to subscribe to my blog so you do not miss out on any homes listed in Gilroy or Morgan Hill. Contact us to find out what your home is worth and to discuss your housing needs..
About Seth Muenzer’s Real Estate Blog: The above article “Gilroy & Morgan Hill Real Estate Activity for February 2019 vs February 2018” is hosted by Seth Muenzer, the owner of www.sethmuenzer.com. a leader in the field of Real Estate sales, marketing, and social media marketing. If you’re thinking of selling or buying, I would love to share my knowledge and expertise. For tips, tricks and how to save money when buying real estate please visit my other blog articles. If you have real estate question feel free to ask anytime and thank you for visiting my blog.
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