Country Estates Real Estate Report - Market Update for Country Estates, Gilroy

Country Estates Real Estate Report - Market Update Single Family homes Country Estates, Gilroy

This real estate update is for single family homes in the community of Country Estates, a neighborhood in the western foothills of Gilroy and consists largely of custom build homes. Lots are still available. This report is dated November 11, 2011.

The real estate market in Country Estates is very distressed and offers great opportunities for investors. The newest listing on Hollyhock is a bank-owned property in need of some TLC and listed at $707,900. The property has 5 bedrooms, 4 bath and is 3,918 square feet.

Currently there are 6 homes in inventory in this community; all but one are distressed sales. List price ranges between $699,000 and $1,199,998. Median sale price is $712,700; average days on market 57; average age 9 years and price per square feet is $204.92.

Two homes are now in contract including 1 short sale. Median and average list price is $724,500; price per square feet is $222.51 and homes were an average of 65 days on the market.

The property on Mantelli Drive closed on November 8, 2011. List price was $719,900 and sold for $675,000.