Brady and Son Realty

A Real Estate Team from Keller Williams Silicon City

Building Dreams, one Home at a Time.

Our Goal is to help you navigate the complexities of Silicon Valley Real Estate such that you are happy to recommend us to your family and friends.

2221 Oakland Road #268, San Jose, CA 95131

Phone: 408-868-8052

Morgan Hill, California

Morgan Hill, CA: Looking at El Toro from East Dunne Ave

Morgan Hill Area Profile

Diana and Hiram Morgan Hill built their country estate, Villa Mira Monte, between the railroad and Monterey Road in 1884. When the first Southern Pacific station was built in 1898, the railroad referred to this area as Huntington. Because many visitors would request the train stop at “Morgan Hill’s Ranch,” the stop became known as Morgan Hill. The City adopted this name when it incorporated in 1906.
(courtesy Morgan Hill city website)

Demographics: (2015)

  • Population: 40,872
  • Median Age: 37.9
  • households: 13,460
  • Median household Income: $96,051
  • Mean Property Value: $625,700

Business

  • Employees: 19,512
  • Top 3 occupations: Management; Sales; Administrative
  • Top 3 industries by employment: Manufacturing; Retail Trade; Professional, Scientific, & Tech
  • Average Commute Time: 31.4 Minutes

City Government

The city of Morgan Hill is governed by a 5-member City Council which includes the Mayor. Beginning in 2018, the city will switch from at-large city council seats to electing by district every 4 years. They Mayor will continue to be separately elected to 2-year terms.

Morgan Hill City Hall sign and emblem

(courtesy Hydrargyrum, Wikimedia contributor)

Things to Do in and around Morgan Hill

Photo of Santa Clara County Model Aircraft Sky Park - Morgan Hill, CA, United States

GOLF:

Boating:

Other:

Hiking:

UNDER CONSTRUCTION

Parks and Rec:

Coyote Creek Trail

Cycling

 

UNDER CONSTRUCTION

Mountain Biking

UNDER CONSTRUCTION

Theater, Concerts, and Museums in and near Morgan Hill

Area Theater and Concert Venues and Organizations:

Area Galleries and Museums:

Dining and Shopping in Morgan Hill

Places to Eat:

Places to Shop:

Education Opportunities in Morgan Hill

K-12 Schools Serving Morgan Hill

Public schools include links to ratings on Greatschools.org; private schools include links to their website.

Higher Education

Morgan Hill Real Estate Market

Morgan Hill Real Estate Trends: Average Sales Price and Average Sales to List Price Ratio by Month

The graph above shows that prices in Morgan Hill have advanced an average of 8% so far this year, representing an annualized rate of 19.2% compared to  11% for the past 12 months and 11.4% for 2017. Morgan Hill prices began tapering off in July, in contrast to April and May for much of Santa Clara County. Over-bidding as evidenced by the red line depicting the average sales price to list price ratio, has declined from a peak over 4% in April to about 2% recently. This indicates there is still strong demand, but buyers have had more choice in recent months and buying is not as frenzied.

Morgan Hill real estate trends: Homes Sales by Price Range over the past 12 months.

The histogram above breaks down Morgan Hill homes sales over the past 12 months by price range. While still more than half of the homes sold for less than $1,000,000, sales in the $1,200,000 to $1,400,000 band are up sharply over 2017.

Morgan Hill Real Estate: 6-month Average: Days to Sell versus Price Range

The second rule of real estate after Location: Timing. Buyers and Sellers need to understand the time trends in the market. 

Sellers need to be aware of how long it might take to sell their home. Many variables affect this time, not the least of which is list price. But expecting a bidding war to drive up the price of a home valued over $1.6M is asking for disappointment because the average time on market is more than 2 months.

For the buyers, it is important to understand how fast you have to move – not just in responding to a home you like, but in how frequently you need to check the market and how quickly you need to make arrangements to view the home.

Morgan Hill homes tend to stay on the market longer than more northern areas of Santa Clara County, with many price bands on the market for three weeks or more.

Understanding Price is imperative both form the Seller’s and Buyer’s perspectives.

For the seller, pricing too high can be disastrous. Buyers will focus their attention on lower-priced listings first. So can pricing so low that buyers wonder what is wrong with the property.

Much the current Silicon Valley Market is deliberately priced low to spark interest, often resulting in multiple offers driving the price up as evidenced by the ratios over 100%.

Back in May we observed that price escalation by overbidding occurred, on average, at prices less than $1,400,000, suggesting the higher price bands are actually over-priced when listed. However, this histogram shows that while the over-all magnitude of overbidding has declined, the price ranges over-which it occurs have widened to include up to $1,800,000. This may indicate better pricing in those higher price bands, or that the market demand has widened.

Morgan Hill Real Estate:6-month Average Sale Price to List Price Ratio by Price Range

Morgan Hill Single Family Home Sales in the past 12 months:

This 850 sf 2br/1.5ba home on a 2,273 sf lot that sold for $470,000 in May, 2018 currently holds the low price mark for Morgan Hill single family homes in the period.

This 4,480 sf 5br/6ba home on a 87,206 sf (2.002 acres) lot sold for $2,700,000 in April of 2018 and currently holds the high price mark for Morgan Hill single family homes in the period.

MorganHill Condo and Town Home Sales in the past 12 months:

This 672 sf 1br/1ba condo that sold for $425,000 in May, 2018, currently holds the low price mark for Morgan Hill condominiums and townhouses in the period.

This 2,002 sf 4br/3.5ba home that sold for $880,000 in March, 2018 holds the high price mark for Morgan Hill Condominium and Townhouse sales in the period.

Help me with Real Estate in Morgan Hill

The accuracy of the information displayed in this site is not guaranteed. The user is advised to conduct their own investigations to validate any information on which purchase or sale decisions are made. Data from the Multiple Listings Service subject to applicable limits on accuracy and content.

Original content ©2018 Brady and Son Realty Team @ KW Silicon City . Referenced images and data subject to originator copyrights.