Is Gilroy, CA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Gilroy is a seller's market


Difference Since May 2023

Since last year, Gilroy has remained a Seller's Market.

Key Takeaway

Gilroy is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gilroy, CA

How much do homes in Gilroy, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since May 2023


Key Takeaway

Homes in Gilroy have sold for 5.9% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $462.5K$419K
2 $679.9K$712.5K
3 $877.5K$926K
4 $1.1M$1.2M
5+ $1.3M$1.3M

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

South Santa Clara Valley

Housing Supply in Gilroy, CA

How many homes are available in Gilroy, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE

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

# BEDSApr 2024May 2024CHANGE
1 12
2 87
3 2430
4 4154
5+ 1321

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 2024May 2024CHANGE

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gilroy, you could pay more than the asking price. 63.3% of homes here sold above asking price last month.

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 2023May 2024CHANGE
19 Days16 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gilroy are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Gilroy, CA

Nearby Markets to Gilroy, CA

What housing markets are near Gilroy, CA?