Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 215 active listings and 54 sale pendings
Gilroy has 297 active listings and 146 sale pendings
San Martin has 39 active listings and 8 sale pendings
Area 1 (all of the above) has 532 active listings and 205 sale pendings
Inventory is continuing to go down which is typical for this time of year as are sales BUT not by much. During December 2008, closed sales were as follows:
Morgan Hill had 32 closed sales
Gilroy had 43 closed sales
San Martin had 4 closed sales
Area 1 had 79 closed sales
Compared to last year at this time, there were 696 active listings in Area 1 BUT only 63 sale pendings with only 40 closed sales for the month of December 2007.
My 2 Cents – I’m seeing much more buyer activity and multiple offers on the properties that are attractive in both price and condition and location. Time to get off the fence or you’ll be waiting in line.
Stay tuned for regular updates!