This Month in Real Estate - Gilroy Edition June 2015

I truly appreciate my fan club who reminds me every month to publish the Gilroy edition of "This Month in Real Estate." Here are the June 2015 numbers fresh out of the MLS oven.

Remember, the June numbers reflect the strong real estate market of May 2015. Starting Memorial weekend I have noticed a gradually softening Gilroy real estate market which will be reflected in next month's edition.
Looking back to 2014, the Gilroy number of homes sold in June compared to May dropped by 20 percent. Will we see the same scenario again? 

This week's selling pressure in the mortgage market has largely been created by mortgage investor profit - taking in front of Friday's May nonfarm payroll figure. The majority of analysts are currently projecting the May headline non farming report will show the economy created 225,000 new jobs nationwide. The national jobless rate is expected to continue to hover at 5.4% while hourly earnings are projected to edge 0.2% higher. These numbers are already well priced in the mortgage market. Mortgage update provided by Turnkey Mortgage Solutions .

May Day May Day - This Month in Real Estate - Gilroy Edition

Thinking of Mooooving?

Thinking of #retiring and #moving to a place with living costs below the national average and home prices in the $200,000-s? Abelene TX for example? Forbes Magazine just stated this city as the number one of the 25 Best Places to Retire.

How Fast Are Selling Homes In California?

For Silicon Valley homebuyers it means, "Don't sleep on it if you want to sleep in it." Homes sell faster than hot dogs around here, the majority of them are less than the average Californian 30 - 45 days on the market.
Thank you Tony Garcia for the great info.

This Month in Real Estate - April 2015 - Gilroy Edition

This Month in Real Estate: March 2015 - Gilroy Edition

Gilroyans you do me proud! Your number of home sales are up 11% compared to last year. The South County had exactly the same number of home sales and Santa Clara County as a whole is down 12%. Gilroy you won this round! We are only slightly down compared to last month - 3% actually translates into one home down and we can live with that.

Home prices are stabile, slightly down year over year but 4% up month over month. Interest rates continue to attract buyers to buy. If you are one of them, you know what to do. Together we will make it happen.

Don't forget to spring forward coming weekend!

This Month in Real Estate, January 2015 - Santa Clara County, South County, and Gilroy Edition At A Glance

2015 starts with a seller's market in Santa Clara County as well as  in the South County and Gilroy. Interest rates continue to be low and attractive for homebuyers. There is opportunity for everyone in this market.

This Month In Real Estate - December 2014, Gilroy Edition

Dear Gilroyan neighborhood, after publishing the December statistics for Santa Clara County and the South County, I still owe you the local Gilroy numbers.

This Month in Real Estate, November 2014 - Gilroy Edition

As we are entering the holiday season, sales were expected to be down from last month. The median home price looks still solid  although down a few percent from last month due to a softer seasonal market. Freddie Mac reported today, November 6, that mortgage rates have moved higher for second consecutive week now.

This Month in Real Estate - October 2014 Gilroy Edition

The number of home sales in Gilroy are up compared to last month but slightly down compared to last year. The good news for homeowners: The median Gilroy home price is considerably up compared to last year and even to last month we are 6% up.

The ratio between active inventory on the market and homes sold over a certain period of time is called the absorption rate. The higher the rate, the more buyer friendly is the market. Today's absorption rate of the Gilroy residential real estate market lies between 4 and 5 % which indicates a shift from the 100% seller's market with scarce inventory which we have seen in spring 2014 to a more balanced market with less bidding wars but still strong sales numbers. Many first-time homebuyers want to take advantage of the current low interest rates to become homeowners instead of renting.

All in all I would call this a win-win market in October for sellers and buyers. Homeowners are still experiencing an increase in equity and buyers have low interest rates as incentive to purchase.

Call me for a free consultation at 408.706.0671   should you think of buying or selling - no strings attached of course.

 Happy Fall everyone!

This Month in Real Estate - September 2014 Gilroy Edition

This Month in Real Estate - August 2014 Gilroy Edition

The median home price in Gilroy remained equal compared to last month and although it is up compared to last year, it has reached a plateau.

The number of homes sold in August is up compared to the summer hole of last month when sales numbers in Gilroy were down.

MLS statistics show that in August, the number of available active listings was higher than the number of listings under contract which is an early indication that we experience a shift in the market. During the very strong seller's market in Spring 2014, we had reverse numbers and active inventory was extremely low.

With new developments being pushed onto the Gilroy market lately, we see more inventory and experience less multiple offers on listings. Current supply and demand reflects a transitional market with still strong home prices but also more opportunity for buyers who want to take advantage of the current low interest rates. A win win situation for both, seller and buyer.

Should you plan to list your home or buy a new one in Gilroy, do it now and call me! There will never be a better time for this exciting step in your life.

This Month In Real Estate - July 2014, Gilroy Edition

1 Single family homes currently listed as bank owned.

14 Single family homes currently listed as short sales.

50 Single family homes are currently overpriced.

149 Is the average days on market of overpriced homes.

70 Single family homes sold in the past 90 days.

67 Single family homes in escrow (11 short sales).

185 Single family homes listed for sale.

52 Total homes are in some phase of foreclosure.

$574,500 Median sale price for single family homes in past 90 days.