Your Real Estate Market Update
Morgan Hill, CA 95037
Single-Family Homes
The Most Powerful Market Insights from Arcus Homes
Morgan Hill, CA 95037
Mon May 06 2024
This week the median list price for Morgan Hill, CA 95037 is $1,665,000 with the market action index hovering around 58. This is an increase over last month's market action index of 57. Inventory has held steady at or around 34.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Real-Time Market Profile
| Median List Price | $1,665,000 | |
| Median Price of New Listings | $1,949,944 | |
| Per Square Foot | $631 | |
| Average Days on Market | 86 | |
| Median Days on Market | 18 | |
| Price Decreased | 26% | |
| Price Increased | 0% | |
| Relisted | 3% | |
| Inventory | 34 | |
| Median Rent | ||
| Market Action | 58 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices in this zip code. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,794,500 | 4,182 | 0.5 - 1 acre | 4 | 4.3 | 18 | 1 | 1 | 17 |
| $1,998,999 | 3,100 | 0.25 - 0.5 acre | 5 | 3 | 26 | 1 | 1 | 10 |
| $1,499,000 | 2,444 | 0.5 - 1 acre | 4 | 2.5 | 46 | 1 | 4 | 21 |
| $999,999 | 1,260 | 6,500 - 8,000 sqft | 3 | 2 | 38 | 1 | 2 | 21 |