Mary Pope-Handy's Market Report
Morgan Hill, CA
Condos/Townhomes
Christie's International Real Estate Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog
Morgan Hill, CA
Wed Apr 24 2024
This week the median list price for Morgan Hill, CA is $970,000 with the market action index hovering around 62. This is less than last month's market action index of 74. Inventory has increased to 15.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $970,000 | |
| Median Price of New Listings | $999,444 | |
| Per Square Foot | $553 | |
| Average Days on Market | 16 | |
| Median Days on Market | 14 | |
| Price Decreased | 13% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 15 | |
| Median Rent | ||
| Market Action | 62 | |
| Strong Seller's Market | ||
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 |
|---|---|---|---|---|---|---|---|---|
| $1,199,999 | 1,929 | 0 - 4,500 sqft | 3 | 2.5 | 13 | 1 | 0 | 14 |
| $998,500 | 2,032 | 0 - 4,500 sqft | 4 | 3.5 | 5 | 2 | 0 | 3 |
| $921,500 | 1,617 | 0 - 4,500 sqft | 2 | 2.8 | 36 | 0 | 0 | 17 |
| $621,650 | 1,163 | 0 - 4,500 sqft | 2 | 2.3 | 40 | 1 | 1 | 21 |