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
Thu Apr 18 2024
This week the median list price for Morgan Hill, CA is $1,604,443 with the market action index hovering around 57. This is an increase over last month's market action index of 55. Inventory has increased to 46.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to have been falling a bit recently. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $1,604,443 | |
| Median Price of New Listings | $1,511,500 | |
| Per Square Foot | $652 | |
| Average Days on Market | 82 | |
| Median Days on Market | 21 | |
| Price Decreased | 11% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 46 | |
| Median Rent | ||
| Market Action | 57 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $2,700,000 | 4,299 | 1 - 2.5 acres | 5 | 4.5 | 24 | 2 | 0 | 154 |
| $1,699,000 | 2,935 | 0.25 - 0.5 acre | 4 | 3 | 34 | 4 | 1 | 21 |
| $1,498,500 | 2,215 | 6,500 - 8,000 sqft | 4 | 2.3 | 42 | 2 | 0 | 17 |
| $1,047,500 | 1,495 | 4,500 - 6,500 sqft | 3 | 2 | 34 | 6 | 1 | 3 |