Our good friend Sam, at Chicago Title, keeps us abreast of real estate numbers in Gilroy. She sent me the following info:- The good news is sales were up in May from April. The not so good news is inventory is continuing to climb.
- In South County, which includes Gilroy and Morgan Hill, we ended May with 34 sales of single family homes and 1 condo/town home sale in Gilroy and 40 single family homes and 10 condos/town homes in Morgan Hill sold.
- May ended with 411 listings of single family homes and 36 Condo/Town homes in Gilroy where Morgan Hill finished the month with 268 Single Family Homes and 32 Condo/Town home listings.
- The Average Days on the Market jumped in Gilroy for single family homes from 94 in April to 105 in May. Condo/town homes are at 72 days on the market for May with only 1 condo/town home sold in May and no condo/town home sales in April.
- Morgan Hill’s single family homes days on market decreased from 81 in April to 65 in May and Condo/town homes decreased from 132 days on market in April to 77 in May.
- Overall days on the market have decreased countywide. The closer to Silicon Valley the better the market conditions.
Here’s the complete report.
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