Mary Pope-Handy's Market Report
Morgan Hill, CA 95037
Single-Family Homes
Christie's International Real Estate Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog
Morgan Hill, CA 95037
Fri Dec 01 2023
This week the median list price for Morgan Hill, CA 95037 is $1,749,000 with the market action index hovering around 50. This is an increase over last month's market action index of 48. Inventory has decreased to 41.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $1,749,000 | |
| Median Price of New Listings | $1,412,499 | |
| Per Square Foot | $641 | |
| Average Days on Market | 79 | |
| Median Days on Market | 42 | |
| Price Decreased | 22% | |
| Price Increased | 2% | |
| Relisted | 5% | |
| Inventory | 41 | |
| Median Rent | ||
| Market Action | 50 | |
| Strong Seller's Market | ||
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,844,000 | 3,497 | 2.5 - 5 acres | 4 | 3.8 | 28 | 1 | 2 | 59 |
| $1,999,000 | 3,006 | 0.5 - 1 acre | 4 | 2.8 | 27 | 0 | 0 | 45 |
| $1,462,000 | 2,297 | 6,500 - 8,000 sqft | 4 | 2.5 | 29 | 2 | 4 | 28 |
| $1,199,000 | 1,804 | 0.25 - 0.5 acre | 4 | 2 | 44 | 3 | 2 | 14 |