Is Morgan Hill, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Morgan Hill has remained a Seller's Market.
Housing Prices in Morgan Hill, CA
How much do homes in Morgan Hill, CA cost?
Median Sold Price
$1,330,000
$619/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Morgan Hill was $1,330,000 in June 2024, up 9% from last year, and the median price per square foot was $619.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $510K | $485K | -4.9% |
2 Bedrooms | $760K | $802.5K | +5.6% |
3 Bedrooms | $1.0M | $1.1M | +15.0% |
4 Bedrooms | $1.4M | $1.4M | +3.0% |
5+ Bedrooms | $1.6M | $1.8M | +11.2% |
Summary: Morgan Hill housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.9%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
San Jose | $1.2M | $1.3M | +10.8% |
Morgan Hill | $1.2M | $1.3M | +9.0% |
South Santa Clara Valley | $1.1M | $1.2M | +7.6% |
San Martin | $1.4M | $1.5M | +5.4% |
Housing Supply in Morgan Hill, CA
How many homes are available in Morgan Hill, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
142 | 161 | +13.4% |
Summary: The Morgan Hill real estate market had 161 homes for sale in June 2024, a 13.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 14 | 18 | +28.6% |
3 Bedrooms | 40 | 49 | +22.5% |
4 Bedrooms | 52 | 54 | +3.8% |
5+ Bedrooms | 35 | 40 | +14.3% |
Summary: The Morgan Hill housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
44 | 48 | +9.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 48 homes were sold or pending in Morgan Hill in June 2024, up by 9.1% month-over-month. Of the 48 sold homes, 21% were sold under asking, 15% were sold at asking, and 65% were sold over asking.
Days on Market for Morgan Hill, CA
How long does it take to sell a home in Morgan Hill, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
19 Days | 15 Days | -24.8% |
Summary: Homes in Morgan Hill had an average of 15 days on market in Jun 2024, down by 24.8% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 48 homes were sold in Morgan Hill; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.