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

Mon Dec 11 2023
This week the median list price for Morgan Hill, CA is $1,599,000 with the market action index hovering around 47. This is less than last month's market action index of 49. Inventory has increased to 43. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Morgan Hill, CA

Mon Dec 11 2023
This week the median list price for Morgan Hill, CA is $1,599,000 with the market action index hovering around 47. This is less than last month's market action index of 49. Inventory has increased to 43. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Morgan Hill market.
Median List Price $1,599,000
Median Price of New Listings $1,369,500
Per Square Foot $624
Average Days on Market 83
Median Days on Market 28
Price Decreased 21%
Price Increased 0%
Relisted 5%
Inventory 43
Median Rent
Market Action 47
Strong Seller's Market

The market is hovering around this plateau. Look for a persistent change 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 3.5 32 0 0 73
$1,799,950 3,012 0.25 - 0.5 acre 4 3 27 0 1 56
$1,399,000 2,398 8,000 - 10,000 sqft 4 2.5 44 4 2 14
$1,049,000 1,280 0.25 - 0.5 acre 4 2 43 2 2 28