Eagle Ridge Market Report

Eagle Ridge Golf Course Community Market Update.

It isn't the end of the month yet, but the market is almost as hot as the weather here in Gilroy. The end of the higher temporary conforming loan limits is in sight and as more and more lenders have stopped accepting loan applications for these higher limit conforming loans buyers are jumping back into the market for now.

Home buyers have been very cautious due the continuing weak economy, uncertainties on the financial markets, and difficulties obtaining loans due to more stringent requirements. Low interest rates have not sparked a buying frenzy.

National reports indicate that the real estate market has weakened more and that is true for our local market too. However, there is some good news, at least for now, about the real estate market in Eagle Ridge Golf Course Community, even though a few properties listed at record lows which are now under contract.

When comparing these two reports it doesn't look like inventory decreased but inventory grow between the first and second report. Five properties went under contract as of last weekend. Home values in Eagle Ridge, both average and median, increased in August over July. Days on Market is high due to the difficulty of closing two short sales which were on the market for approximately 1 year (see last report).

List of homes currently for sale in inventory. Information contained in this report is designed for accuracy but not guaranteed and provided by the MLS (Multiple Listing Service.)

Homes Sold in Eagle Ridge in August. Information contained in this report is designed for accuracy but not guaranteed and provided by the MLS (Multiple Listing Service.)