fbpx
Whitelaw and Sons Real Estate Morgan Hill
reaching your real estate goals
Morgan Hill Real Estate October 2022

Morgan Hill Real Estate Market Report – October 2022

by | Dec 20, 2022 | Market Analysis, Morgan Hill Market Reports | 0 comments

Robert Whitelaw, Realtor®

Robert Whitelaw, Realtor®

Published:Dec 20, 2022

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate throughout Santa Clara County. Currently, Robert uses his local market knowledge to help clients from San Jose to Morgan Hill, San Martin and Gilroy.

The Morgan Hill real estate market continues to see growing inventory, but prices are still up from the same time last year.

morgan hill real estate granada theaterSales Price.

Average list price was up about 10% from the same time last year!

Inventory Grows.

Morgan Hill real estate saw a 66% increase in inventory when compared to the same time last year. Inventory numbers have remained relatively flat over the last 3 months.

New Listings Down.

The number of homeowners who decided to put their home on the market in October 2022 was down 19% compared to the same time last year.

Homes Sold.

The number of homes sold has been relatively flat recently. For October, the number of sales is down 36% when compared to October of 2021.

List Price.

Seller continue to expect to get more for their homes than they did last year. The average home list price was up 10% over the year.

Sales Price.

While seller expectations increased over the year, actual sales prices dropped by 9% over the year.

Percent Of List Price.

Sellers have been seeing their homes sell for 98.7% of asking price – down from 104% at the same time last year.

Days On Market.

It is taking 69% longer for home to sell in October 2022 than at the same time last year.

Price Reductions.

In October 2022, 45.5% of homes on the market had their price reduced.

Check Out The Last Show!

1% down loans

1% Down Loans – Good Or Bad?

In this thought-provoking episode, we delve into the often overlooked drawbacks of low-income buyers availing themselves of 1% down loans.

Schedule A Consultation With Robert!

 

Let's Talk About Achieving Your Real Estate Goals!

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join to get access to the best information on our local real estate markets, important real estate news, insights, information and tips on how to realize your real estate goals!

You have Successfully Subscribed!

Pin It on Pinterest

Feel Like Sharing?

Share this with your friends and followers on social media!