Your Real Estate Market Update
Morgan Hill, CA
Single-Family Homes
The Most Powerful Market Insights from Arcus Homes
Morgan Hill, CA
Sun Dec 22 2024
This week the median list price for Morgan Hill, CA is $1,841,400 with the market action index hovering around 45. This is about the same as last month's market action index of 45. Inventory has decreased to 38.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
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 | $1,841,400 | |
| Median Price of New Listings | $1,565,000 | |
| Per Square Foot | $729 | |
| Average Days on Market | 169 | |
| Median Days on Market | 74 | |
| Price Decreased | 29% | |
| Price Increased | 11% | |
| Relisted | 13% | |
| Inventory | 38 | |
| Median Rent | ||
| Market Action | 45 | |
| Strong Seller's Market | ||
The market appears to be hovering around these current levels, though prices movved up a bit this week. The Market Action Index is a good leading indicator for the durability of this shift.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,498,000 | 4,324 | 5 - 10 acres | 4 | 4 | 23 | 0 | 0 | 63 |
| $2,500,000 | 3,172 | 2.5 - 5 acres | 5 | 3 | 24 | 1 | 1 | 112 |
| $1,557,500 | 2,683 | 0.5 - 1 acre | 4 | 3 | 7 | 2 | 1 | 70 |
| $1,117,000 | 1,635 | 4,500 - 6,500 sqft | 3 | 3 | 22 | 0 | 3 | 112 |