Is Morgan Hill, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morgan Hill is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Morgan Hill, CA cost?

Median Sold Price

$1,299,375

$616/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$214,486(+19.8%)

Key Takeaway

Homes in Morgan Hill have sold for 19.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $557.5K$479.9K
-13.9%
2 $670K$745K
+11.2%
3 $920K$1.0M
+14.1%
4 $1.2M$1.4M
+15.9%
5+ $1.4M$1.8M
+24.1%

Median Sold Price Compared To Nearby Cities

Morgan Hill
+19.8%
South Santa Clara Valley
+17.6%
San Jose
+12.6%
San Martin
-7.0%

How many homes are available in Morgan Hill, CA?

Number of Homes For Sale

Jul 2022Aug 2022%
133130-2.3%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 11
0.0%
2 1413
-7.1%
3 3535
0.0%
4 6255
-11.3%
5+ 2126
+23.8%

Number of Homes Sold

Jul 2022Aug 2022%
4146+12.2%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morgan Hill, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
11 Days28 Days+153.3%

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Morgan Hill, CA

Homes for sale in Morgan Hill, CA have reached 130. The number of homes for sale in Morgan Hill, CA decreased by 2.3% between July 2022 and August 2022. In August 2022 median list price was $1,299,375 and the average listing age was 28 days. Listing prices have changed in this real estate market between July 2022 and August 2022: 1 bedroom properties became 13.9% more cheaper, 2 bedrooms properties became 11.2% more expensive, 3 bedrooms properties became 14.1% more expensive, the cost of 4 bedrooms properties went up by 15.9%, prices of 5 bedrooms properties increased by 24.1%. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, 2 bedrooms homes became 7.1% less available, volume of 3 bedrooms homes stayed the same, volume of 4 bedrooms homes went down by 11.3%, the quantity of 5 bedrooms homes went up by 23.8%. In August 2022, from all listings sold in Morgan Hill, CA there were more than 17 sold above asking price, over 21 sold below and more than 6 were sold right at the asked price.

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