Community Corner
October Home Sales in Gilroy Are Good News for Sellers
The higher prices are a good sign for sellers and cities that rely on property taxes to fund city services. For buyers, the news may not be so good.
The median price for a home in Gilroy was $461,000 in October 2012, a 15 percent increase over October 2011 prices.
The price data was released on December 13 by the San Diego-based real estate tracking firm DataQuick.
According to DataQuick, nearly 7,800 Bay Area homes changed owners in October. The median price for a Bay Area home was $416,000. Sales volume was up 160 percent in Burlingame and Hillsborough as well.
Find out what's happening in Gilroywith free, real-time updates from Patch.
The San Francisco Chronicle reports that the generally higher prices for homes are due to a confluence of tight supply, high demand and low interest rates on mortgage loans.
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Find out what's happening in Gilroywith free, real-time updates from Patch.
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Gilroy 95020 97 56.5% $461000 15.3% $925000 $212 7%More Gilroy real estate info:
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