HollisterFreeLance.com of Hollister California
Median home prices in Morgan Hill dropped to $858,000 in July, compared to $1 million for the same month last year, according to the MLS. In Gilroy, homes prices dropped to $675,000 in July, compared to $725,000 for the same month last year. Similar to its neighbor to the north, Gilroy has seen an increase in the number of homes on the market. But the biggest change in both cities involves the length of time it takes to sell a home.
This shouldn’t come as a surprise to anyone. Ever since Gilroy was kicked out of the Bay Area, it just hasn’t been the same. Look at some of the previous homes there. Sure sure – Gilroy is a short drive from Apple and Google and Facebook and VMWare and Web 2.0, but this just wasn’t the year.
So sorry Gilroy and Morgan Hill – we’re not BFF anymore.
Maybe when your median reaches $725,000 again, we can talk.