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 225 active listings and 71 sale pendings
Gilroy has 244 active listings and 179 sale pendings
San Martin has 37 active listings and 15 sale pendings
Area 1 (all of the above) has 505 active listings and 264 sale pendings.
Inventory continues to decline and pending sales continue to increase but closed sales are a lot less than the pending sales lead us to believe. For the month of February, there were 16 closed sales in Morgan Hill, 40 in Gilroy, none in San Martin and 56 for the whole of area 1. While pending sales are a much higher percentage, closed sales are running about 10% of the inventory.
Stay tuned for regular updates!