This week the median list price for Morgan Hill, CA is $1,288,000 with the market action index hovering around 45. This is about the same as last month’s market action index of 45. Inventory has held steady at or around 55.
Market Action Index
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Strong Seller’s Market
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
If you would like a full market analysis for your home or to understand the trends in your buying search, please contact the Myrick Estates Team today!