A friend of mine has lived in the beautiful seaside city of Aptos for many years. She talks about how wonderful it is to live there, with the implication that Gilroy, where I live, is not as wonderful. I saw her just the last week and she referred to several wonderful things about Aptos, and I mentioned that I was cold and should have brought a heavier jacket for our meeting in Aptos. The term, “June Gloom,” came up when she explained that locals have a term of endearment for the foggy, gloomy weather that the seacoast cities experience in June.
As I was driving home to sunny – yes, it could even be termed hot – Gilroy, I thought about the time of year and the state of the real estate market (because I’m always thinking about the state of the real estate market!). Check out the statistics below and you will see that residential sales are happening. It’s not at the same pace as a year or two ago, but homes get bought and sold, even in markets considered to be “down” by the media.
As I was driving home to sunny – yes, it could even be termed hot – Gilroy, I thought about the time of year and the state of the real estate market (because I’m always thinking about the state of the real estate market!). Check out the statistics below and you will see that residential sales are happening. It’s not at the same pace as a year or two ago, but homes get bought and sold, even in markets considered to be “down” by the media.
June 2007
Single Family Homes
New Listings: 109
Current Inventory: 411
Closed Sales: 34
Average Days on Market: 76
Median Sales Price: $710,000
% to List Price: 97.54%
Total Sales Volume: $29,504,800
If your next question is, “How much has the market gone down in the last year?” or “If I didn’t sell/buy last year, what did I miss?” here’s the answer:
June 2006
Single Family Homes
New Listings: 144
Current Inventory: 276
Closed Sales: 45
Average Days on Market: 39
Single Family Homes
New Listings: 144
Current Inventory: 276
Closed Sales: 45
Average Days on Market: 39
Median Sales Price: $765,000
% to List Price: 98.83%
Total Sales Volume: $36,486,799
% to List Price: 98.83%
Total Sales Volume: $36,486,799
Let’s go back one more year, just for the heck of it:
June 2005
Single Family Homes
New Listings: 90
Current Inventory: 149
Closed Sales: 70
Average Days on Market: 17
Median Sales Price: $703,500
Median Sales Price: $703,500
% to List Price: 101.13%
Total Sales Volume: $53,616,388
What does it mean?
- There’s no June Gloom here.
- Homes were bought and sold in June.
- Things change.
- If you need to buy, BUY!
- If you need to sell, SELL!
- Get an experienced agent in your area (in Gilroy, “Me, Me, Me!”) to help you figure out the price for the market TODAY.
When it gets too hot for you in Gilroy in the coming months, feel free to drive 20 minutes to the June/July/August Gloom!
Picture of June Gloom credited to: http://www.andrewburke.ca/ajlb/viewBlog.php.
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