Michael Walters' Blog

Hollister’s housing is HOT!  Last month (5/09) saw 27 more Closings than 5/08’s 33.  That is an increase of 81.8%!  Each month this year our number of Closings has leaped ahead of ’08’s.  To date there has been a 151% increase in Closed Sales! In fact, try to buy a home in Hollister now.  “Multiple Offers” is once again a standard phrase reported to buyers by their agents.

Contributing to this hot market: New Listings of homes for sale in Hollister are down 27.9% so far this year over last year.  Last month alone we saw a drop in New Listings of 29.5% over 5/08.

The Gilroy housing market is experiencing a similar recovery with a 128.9% increase in closings and a 32.7% decrease in New Listings.

Make sure your Realtor knows all the current methods in getting an offer accepted.  You are going to need that if you want to buy a home here in Hollister.

Have you noticed Morgan Hill’s housing activity?  Wow!  Recovery is well underway in our quaint town.  In May there were 73.6% more Closings than in May ‘08.  This is the 5th straight month this year where our Closings have increased over last year’s figures.  To date, Closings have increased nearly 60% (59.4%)!

On the other hand New Listings of Morgan Hill homes for sale were down for the 5th straight month.  The number of May’s New Listings were down 55.4% vs. 5/08 and year-to-date the drop totals 23.5% over the same period last year!

In nearby Gilroy the same housing trends are happening!  Gilroy’s number of Closed Sales is up 128% from 2008!  128%!   Wow!   Our New Listings were lower by 27.9%.

The affects of ‘Supply and Demand‘ are being felt here in Morgan Hill and Gilroy.  While the interest rates are still wonderfully low I wouldn’t wait to buy.