The tide continues to turn as I predicted earlier last year. The average sold home price is now lower than we have seen in a long time.

While re-listing has been greatly reduced, we continue to see it skewing some numbers right here in Holiday Lake Estates.

For those interested in buying in Holiday Lake Estates, there has not been a better time in more than 5 years. There are lots of homes to choose from and buyers are in the drivers seat. Prices are down and market influences look like they are going to stay there for a while. Read on for all the details. 

First, lets take a look at the numbers for the homes that sold in Holiday Lake Estates in April 2007. 

The numbers included below tell the story of the homes that sold. However, it is helpful for me to point out that while the numbers below are what gets reported as the "Official" numbers, there are some adjustments we should make in order to get a more realistic picture of what is really going on.

The first home listed is on Shady Lane. The listing shows that it was only on the market for 38 days. When looked at more broadly, this is not actually correct. The home was first listed on 9/3/2006. The listing was then canceled on  12/1/2006. It was then listed again on 1/20/2007. The way that the MLS system works, this previous listing does not "link" with the more recent listing. So in reality, these folks were trying to sell their home for more like 128 days.

The rest of the homes that sold in April are showing accurate data. So lets recalculate the days on market, given our updated numbers.

 So while the "official" numbers tell us that the average time to sell a home in Holiday Lake Estates is 84.3, the more realistic number is 114.3. That is a pretty huge difference and something that anyone considering selling their home in our community should be aware of before the start the process of marketing their home.

The good news is that homes are selling. No homes were cancelled, withdrawn or expired in Holiday Lake Estates for the month of April, 2007.

However, the average price of a home did drop. While we have enjoyed a long period of time with homes selling over the $1 Million mark, recent sales all indicate that homes under that level are the most likely to sell and are likely to sell quickest. The average sales price in Holiday Lake Estates for April, 2007 was  $821,667. As you might expect, the home that was the lowest priced sold very quickly - in only 16 days.

Analyzing Our Market

We continue to see a large number of homes actively listed in Holiday Lake Estates. With a current average list price of $1,053,199 in Holiday Lake Estates, and the average sold prices being substantially below that mark, it is easy to see why we have so many homes that are not selling. We have a number of homes currently listed that have been on the market for well over 100 days - some more than 200 days.

For those sellers that must sell their home, if you have already worked with your agent to maximize your property in other ways, your asking price is the only tool you have to attract buyers. This upcoming summer season may be your best chance to sell your home for a while. If you can afford to keep your home or do not have to sell, then don't. Hold on to your property until the market makes it eventual turn. However, if you do need to get your home sold, be aggressive and get it done before this years summer season is over.

17048 SHADY LANE DR, MORGAN HILL 95037 (Morgan Hill) MLS: 703036   DOM: 38  CDOM: 38  Property Overview Area: Morgan Hill / Gilroy / San Martin (Area 1) Bed/Bath: 3 / 2 Age: 39 years SqFt: 2,014 Lot: 26,136 sq ft Pricing/Dates List : $869,950   01/20/2007 Original : $869,950   01/20/2007 OffMktDate: 04/16/2007 Sale: $860,000   02/27/2007 Remarks Large, open, light & bright custom floor plan w/ vaulted ceilings & floor to ceiling windows overlooking a very secluded park like yard with mature oaks & your own private stream. All bedrooms overlook deck w/ beautiful wooded views Property Features Familyroom Separate Family Room Informal Dining Area     -- Formal Dining Area Separate Dining Room Pool Options     -- Garage/Parking 2 Car Garage

3210 QUAIL LN, MORGAN HILL 95037 (Morgan Hill) MLS: 706775   DOM: 39  CDOM: 199  Property Overview Area: Morgan Hill / Gilroy / San Martin (Area 1) Bed/Bath: 3 / 3 Age: 24 years SqFt: 2,104 Lot: 0.50 ac Pricing/Dates List : $849,950   02/09/2007 Original : $849,950   02/09/2007 OffMktDate: 04/17/2007 Sale: $835,000   03/20/2007 Remarks CHARMING HOME ON PRIVATE 1/2 ACRE LOT WITH FABULOUS VIEWS OF LAKE ANDERSON RV PARKING*NEWER 50 YEAR ROOF*NEWER SIDING*DUAL PANE WINDOWS*NEWER DECKING LARGE FRONT PORCH*FLAGSTONE WALKWAYS*DRIP SYSTEM*ADDITIONAL ROOM IN GARAGE Property Features Familyroom     -- Informal Dining Area     -- Formal Dining Area Separate Dining Room Pool Options     -- Garage/Parking 2 Car Garage

3400 BLUE GRASS CT, MORGAN HILL 95037 (Morgan Hill) MLS: 711460   DOM: 16  CDOM: 16  Property Overview Area: Morgan Hill / Gilroy / San Martin (Area 1) Bed/Bath: 3 / 2 Age: 39 years SqFt: 1,650 Lot: 20,038 sq ft Pricing/Dates List : $789,000   03/08/2007 Original : $789,000   03/08/2007 OffMktDate: 04/26/2007 Sale: $770,000   03/24/2007 Remarks Great Price in $$$$ Holiday Lake Estates~Breathtaking Views From Almost Every Window~Nearly 1/2 Acre Flat Lot~Huge Potential as Equity Builder~Check Comps~ In-Law Quarters~All Appliances Included~LOCATION...LOCATION...LOCATION! Property Features Familyroom No Family Room Informal Dining Area     -- Formal Dining Area No Formal Dining Area Pool Options Possible Pool Site Garage/Parking 2 Car Garage

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