Chicago Title Statistic Update –
There are currently 281 single family homes actively on the market in Morgan Hill. 58 homes are pending sale (currently in contract) equaling 17% of the market. Out of those totals, there are 54 Short Sale properties with 26 pending sales. REOs have an inventory of 33 listings with 17 pending sales.
Also, 3 transactions closed this past week in Morgan Hill. Out of those 3, 1 was a Short Sale and 1 was a REO.
There are currently 351 single family homes actively on the market in Gilroy. 145 homes are pending sale equaling 29% of the market. Out of those totals, there are 131 Short Sales with 62 pending sales. REOs have an inventory of 91 listings with 57 pending sales.
In Gilroy, 20 transactions closed this past week including 7 Short Sales and 8 REO properties.
Chicago Title has been my title company of choice for many years. They have provided me with the above statistics regarding the percentage of homes selling, including breaking it down amongst Short Sales (transactions where the loan amount is greater than the current value of a home) and REOs (bank owned property). These statistics are from this current week.
My 2 Cents once again – There really isn’t that much different in the numbers from a couple of weeks ago. Inventory is down a little but sales are up a little, at least in Morgan Hill. Traditionally, the market will slow down over the holidays.
I’ll keep you posted!