Gilroy, CA

Gilroy Home Sales

March 2009 has been and continues to be a busy month for Gilroy Real Estate.

This has been an amazing month in terms of sales here in the desirable community of Eagle Ridge, in Gilroy, California. We have three more days to go but the numbers are in. Inventory is down to 20 single family homes from 38 just at the beginning of this month!

This is very eencouraging news for those homeowners who have seen the values of their homes drop sharply. When inventory is down prices tend to increase.

Eagle Ridge is a very desirable golf course community in the Gavilan foothills. It has a homeowners association and is governed by CC&Rs. The community has two nice parks; the main park offers tennis courts, a junior olympic sized pool, club house, basketball courts and play structures. The use of solar panels to heat the pool keeps the cost of operating the pool down.

Eagle Ridge is a only a short distance from the hustle and bustle of San Jose and its tranquility attracts many buyers from the Bay area.

Contact me if you are interested in a home in Eagle Ridge; I will be happy to assist you.

March 2009 has been and continues to be a busy month for Gilroy Real Estate.

In February of 2009 the inventory of single family homes in Gilroy was 352 with 42 homes sold and 91 new listings. The absorption rate was 7.3 months. That means that it will take 7.3 months for a new listing to close sale when no new homes come on the market. This absorption rate indicates that we currently are in a buyers' market. Mortgage rates are coming down and the new homebuyer tax credit is an additional incentive to purchase a home.

This month is not closed yet but the numbers are already looking better than last month. Currently there are 230 homes in inventory. In the first 27 days of March 49 homes sold and 75 new homes were newly listed.

If you are a first time homebuyer I will be happy to assist you in your search for the "perfect" home and help you with your purchase.

Our market is looking good!

There are some encouraging signs which could indicate that the real estate market is turning around.

We have seen a flurry of activity. In my small community of Eagle Ridge we had 38 active listings this month. Sixteen listings went to contract including eight in the last ten days. During our open house last weekend we had about 16 couples come through; that was more than in the previous weeks. The bank received multiple offers. It is starting to look better every day.