Monday, June 1, 2009
Monday Morning Update (and on Monday!)
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 170 active listings and 121 sale pendings
Gilroy has 128 active listings and 230 sale pendings
San Martin has 36 active listings and 12 sale pendings
Area 1 (all of the above) has 332 active listings and 362 sale pendings
During the month of May, there were 29 closed sales in Morgan Hill, 51 in Gilroy. 4 in San Martin and 84 for the whole of Area 1 – that’s a little less activity and closed sales than we had in March and April but still pretty good and holding strong.
Inventory continues to fall and sales continue to increase. Rates went up last week so we’ll see whether they stay up or will go back down soon and how that affects the market. Rates are still good but not as good as they were which will be a problem for some Buyers. Also, rumors abound about another wave of bank owned properties coming on the market, always the fear getting in the way of what will make us happy.
Stay tuned for regular updates!