Tue Jun 06 2023
This week the median list price for Morgan Hill, CA is $1,850,000 with the market action index hovering around 58. This is an increase over last month's market action index of 57. Inventory has increased to 41.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,850,000|
|Median Price of New Listings||$1,774,999|
|Per Square Foot||$623|
|Average Days on Market||57|
|Median Days on Market||14|
|Strong Seller's Market|
Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$3,499,444||4,710||1 - 2.5 acres||4||4.5||19||4||0||7|
|$2,435,000||3,976||0.5 - 1 acre||4||3.8||16||2||1||70|
|$1,699,444||2,620||8,000 - 10,000 sqft||4||3||26||5||3||3|
|$1,179,500||2,485||4,500 - 6,500 sqft||4||3||32||3||3||14|