The Gilroy real estate market continues to buck the trends that we see in most of Santa Clara County!
In terms of inventory, Gilroy real estate saw a 34% decrease compared to the same time the previous year. While the county overall saw a 31% decrease over the same time period.
New listings in Gilroy were down 15% compared to the same time last year. The county went the other direction with an increase in new listings of 6%
When counting for homes sold vs homes listed, Gilroy added 17 homes to the overall inventory this month. The number of sold homes was down 35% compared to last year.
Sellers in Gilroy showed they are far more willing to price at an appropriate level, with the average list price decreasing by -11.4% over the year to $1,132,184.
Sales prices in Gilroy increased by 1.2% over the year, and sellers have generally been seeing their homes sell for a slightly higher percentage of the asking price compared to the same time last year, at 99% compared to 98.5% last year.
Days On Market
Interestingly, Gilroy real estate saw the days on market remain the same when compared to the same time last year. It took the average home 30 days to sell – the same time we saw at the same time last year.
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