I have issues with statistics. While they are necessary, they can also be misleading. Years ago I became dissatisfied with depending upon others for information. Every Monday morning, I track what is going on in my areas. Looking at this information week after week gives me a better perspective and helps me to better understand other statistics that come my way. The following is based on single family homes:
Morgan Hill has 284 active listings with 68 sale pendings
Gilroy has 367 active listings with 151 sale pendings
San Martin has 41 active listings with 6 sale pendings
Area 1 (all of the above) has 673 active listings with 223 sale pendings
For the month of September, there were 30 closed sales in Morgan Hill, 57 closed sales in Gilroy, 2 closed sales in San Martin and 89 closed sales in Area 1. At the end of September, the average priced home in Morgan Hill was $757,613 and the average priced home in Gilroy was $430,219. The median priced home in Morgan Hill was $644,400 and the median priced home in Gilroy was only $384,900.
Stay tuned for regular updates!