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

Robert Whitelaw, Realtor®

Published:Jun 19, 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!

If you are a seller in the Gilroy real estate market, you got close to what homes were selling for last year! The ONLY area to do that in April 2023!

Inventory

gilroy real estate marketIn terms of inventory, Gilroy real estate saw a 2% decrease compared to the same time the previous year. While the county overall saw a 20% decrease over the same time period. This is pivot from last month when inventories actually increased.

New Listings

However, new listings in Gilroy were down 31% compared to the same time last year. This was below the county decline of 33%.

Homes Sold

When counting for homes sold vs homes listed, Gilroy added 30 homes to the overall inventory this month. The number of sold homes was down 60% compared to last year.

List Prices

Sellers in Gilroy showed they are expecting more for their homes, with the average list price increasing by 2.9% over the year to $1,244,010.

Sales Prices

Sales prices in Gilroy decreased by 1.36% 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 101.1% 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 222% longer for homes to sell compared to the same time the previous year, or an average of 29 days in 2023 compared to just 9 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!

 

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