Single family home values in Hollister dropped by 41.6% from 2007 to 2008. In 2009 they fell another 17.4% . Townhomes values have likewise dropped: 54.3% from 2007 to 2008 and 25.5% from 2008 to 2009.
The average sales price of Hollister homes in 2007 was $548,562. In 2008 it was $320,419, and $264,601 the average sales price for 2009.
Townhome sales show a similar pattern: their average sales price was $339,780 in 2007, $155,354 in 2008, and $115,725 in 2009.
However, it appears that the value slide has hit bottom. A closer look at 2009 average values suggests that we may have bottomed out in 9/09 and are beginning to see a rebound in both single family residence and townhome values.
Morgan Hill & Gilroy home and townhomes reflect a similar trend in values although the downward adjustments in value are more dramatic as you go south to Hollister.