Mary Pope-Handy's Market Report
Morgan Hill, CA
Single-Family Homes
Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog
Morgan Hill, CA
Fri Jun 02 2023
This week the median list price for Morgan Hill, CA is $1,799,444 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 34.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $1,799,444 | |
| Median Price of New Listings | $1,598,888 | |
| Per Square Foot | $626 | |
| Average Days on Market | 62 | |
| Median Days on Market | 18 | |
| Price Decreased | 24% | |
| Price Increased | 0% | |
| Relisted | 6% | |
| Inventory | 34 | |
| Median Rent | ||
| Market Action | 58 | |
| Strong Seller's Market | ||
The market seems to have paused around this plateau. 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 |
|---|---|---|---|---|---|---|---|---|
| $3,449,000 | 5,102 | 1 - 2.5 acres | 4 | 5 | 12 | 2 | 0 | 42 |
| $2,185,500 | 3,506 | 1 - 2.5 acres | 4 | 3.8 | 29 | 1 | 2 | 91 |
| $1,599,999 | 2,709 | 6,500 - 8,000 sqft | 4 | 3 | 20 | 4 | 5 | 7 |
| $940,000 | 1,280 | 6,500 - 8,000 sqft | 3 | 2 | 41 | 4 | 2 | 14 |