Here's the latest news and numbers for our Morgan Hill market.
Have the negative headlines kept you from entering the real estate market here in Morgan Hill? Are you nervous about buying or selling your home because you are unsure of what’s coming in the market? I am here to break down what’s happening in the Morgan Hill real estate market so that you can make the best decision when it comes to probably one of the biggest assets, which of course, is your home.
In addition, some sellers now have a huge amount of equity in their homes, some beyond their wildest dreams. Their home equity now can literally pay them more than their jobs ever will. Let’s take a look at what’s happening near Morgan Hill in the 95037 zip code.
At the time of this recording, there are currently 75 homes that are active for sale. About 61 of them are single-family homes, and 14 are condos or townhomes. This is still a very scarce level of inventory. I have been selling real estate in this area for over 16 years, and I’ve seen all kinds of markets and market changes. I assure you, even with all that’s happening, we still have a shortage of inventory.
“The market is slowing, but we still have an inventory shortage and great pricing.”
Currently, there are 55 homes under contract, with 47 of them being single family homes and 14 being condos and townhomes. In the last 30 days, 41 homes and nine townhomes and condos were sold. Single-family homes sold for an average of $1,370,000 in Morgan Hill. Townhomes and condos sold for an average of $881,765. The average days on market was 29 days for single-family homes and 23 days for townhomes or condos.
With the changing market, it’s no surprise to us that homes are staying on the market longer. With the constant shifts, you need to have an experienced agent to help you navigate through your next move in real estate. Yes, the market is shifting. It’s slowing, but we still have an inventory shortage and great pricing.
Call or email my team and me today to get more information, and we can strategize about what to do with your home. If you’d like my market updates, you can subscribe to my YouTube channel.
