Mary Pope-Handy's Market Report

Morgan Hill, CA

Single-Family Homes

Christie's International Real Estate Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog



Morgan Hill, CA

Tue May 28 2024
This week the median list price for Morgan Hill, CA is $1,549,999 with the market action index hovering around 57. This is less than last month's market action index of 58. Inventory has increased to 50. Click here to stay informed with the Morgan Hill market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Morgan Hill, CA

Tue May 28 2024
This week the median list price for Morgan Hill, CA is $1,549,999 with the market action index hovering around 57. This is less than last month's market action index of 58. Inventory has increased to 50. Click here to stay informed with the Morgan Hill market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Real-Time Market Profile

Never miss important changes in the Morgan Hill market.
Median List Price $1,549,999
Median Price of New Listings $1,499,998
Per Square Foot $655
Average Days on Market 65
Median Days on Market 14
Price Decreased 14%
Price Increased 2%
Relisted 0%
Inventory 50
Median Rent
Market Action 57
Strong Seller's Market

Again this week we see a downward notch for prices. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.

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
$3,241,755 4,950 0.5 - 1 acre 4 5 21 1 1 28
$2,049,000 3,361 1 - 2.5 acres 4 3 31 5 2 14
$1,475,000 2,390 0.5 - 1 acre 4 3 47 3 0 7
$1,179,000 1,520 8,000 - 10,000 sqft 3 2 48 7 3 0