I reviewed 548 Gilroy sales of single family residences from 11/14 to 10/15. We saw a fairly flat market from Nov. last year to Feb. this year. Then, in March the prices began to rise and spiked in July. Since July the average sales prices drifted back to the same level as this time last year.
It is important to note that in 2014 Gilroy home values increased roughly 21% from Jan. through Dec. And, Jan. this year saw average prices roughly 11% higher than 12 months earlier.
So, what does all of this mean? Well, if you are a buyer and like to play the odds, your best buys will typically be between now and next Feb. or Mar. If you are a home owner who is thinking of selling you may want to be ready to go on the market in March or April.
Lastly, you may find that next year, being a National Election year where a sitting majority will want to maintain their plurality, will be anyone’s guess as to what home prices are going to do in Gilroy. Actually, I have a prediction based on the 9 other national election years I have seen while in the housing business. Text, email or call me for that information.
Thanks to MLSListings for the data.