fbpx
Whitelaw and Sons Real Estate Morgan Hill
reaching your real estate goals
Robert Whitelaw, Realtor®

Robert Whitelaw, Realtor®

Published:May 3, 2023

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate throughout Santa Clara County. Robert uses his local market knowledge to help clients across Silicon Valley!

The Gilroy real estate market is currently the best calibrated to the current market.

Inventory

gilroy real estate marketIn terms of inventory, Gilroy real estate saw a 22% increase compared to the same time the previous year. While the county overall saw only a 1% increase over the same time period.

New Listings

However, new listings in Gilroy were down 44% compared to the same time last year. This was just a bit above county decline of 38%.

Homes Sold

When counting for homes sold vs homes listed, Gilroy added 9 homes to the overall inventory this month. The number of sold homes was down 22% compared to last year.

List Prices

Sellers in Gilroy showed they are far more willing to price at an appropriate level, with the average list price decreasing by -4.6% over the year.

Sales Prices

Sales prices in Gilroy decreased by -5.4% over the year, and sellers have generally been seeing their homes sell for a lower percentage of the asking price compared to the same time last year, at 99.6% compared to 108.2% last year.

Days On Market

One trend that has changed in the Gilroy real estate market is the length of time it takes for homes to sell. It took 325% longer for homes to sell compared to the same time the previous year, or an average of 34 days in March 2023 compared to just 8 days in the same month of 2022.

Check Out The Last Show!

NAR SETTLEMENT

NAR Settlement – For Buyers and Sellers

The NAR settlement, once it is approved, is set to go into effect in the middle of July 2024. This will completely change how Buyers agent are compensated and we can count on chaos while the systems adjust to the new reality.

Get Your FREE Home Value Estimate!

Just enter your address and get access to your instant home value estimate, but also amazing tools to evaluate refinance options, your equity, ways to levarage your homes equity, how to pay your home off faster… and so much more!

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!