Single Family Homes and Condos in Morgan Hill - Snapshot July 2012
Home values in Morgan Hill continue to outpace home values in Gilroy. The number of distressed properties offered for sale is down again this month to only 15%. Single Family homes in Morgan Hill less than $500,000 have the highest percentage of distressed properties (44%) followed closely by condominiums in inventory in Morgan Hill (40% distressed).
Absorption rate in Morgan Hill is about 4 months indicating a sellers' market.
Inventory in Morgan Hill is down; the number of homes listed over $1 million increased to 28.
Fewer single family homes and condos sold in Morgan Hill California in July.