Is Gilroy, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Gilroy has remained a Seller's Market.
Housing Prices in Gilroy, CA
How much do homes in Gilroy, CA cost?
Median Sold Price
$1,058,000
$534/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gilroy was $1,058,000 in May 2024, up 5.9% from last year, and the median price per square foot was $534.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $462.5K | $419K | -9.4% |
2 Bedrooms | $679.9K | $712.5K | +4.8% |
3 Bedrooms | $877.5K | $926K | +5.5% |
4 Bedrooms | $1.1M | $1.2M | +8.2% |
5+ Bedrooms | $1.3M | $1.3M | +1.6% |
Summary: Gilroy housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.4%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
Llagas-Uvas | $1.4M | $1.5M | +6.9% |
Gilroy | $999.5K | $1.0M | +5.9% |
South Santa Clara Valley | $1.1M | $1.2M | +4.3% |
Housing Supply in Gilroy, CA
How many homes are available in Gilroy, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
87 | 114 | +31.0% |
Summary: The Gilroy real estate market had 114 homes for sale in May 2024, a 31.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 24 | 30 | +25.0% |
4 Bedrooms | 41 | 54 | +31.7% |
5+ Bedrooms | 13 | 21 | +61.5% |
Summary: The Gilroy housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 31.7%, and 5+ bedroom homes increased by 61.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 31 | +63.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Gilroy in May 2024, up by 63.2% month-over-month. Of the 30 sold homes, 27% were sold under asking, 10% were sold at asking, and 63% were sold over asking.
Days on Market for Gilroy, CA
How long does it take to sell a home in Gilroy, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 16 Days | -18.3% |
Summary: Homes in Gilroy had an average of 16 days on market in May 2024, down by 18.3% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 31 homes were sold in Gilroy; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.