Home Values

Gilroy Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$589,500

  • 15.1% 1-year change
  • 7.0% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Gilroy is $589,500. Gilroy home values have gone up 15.1% over the past year and Zillow predicts they will rise 7.0% within the next year. The median list price per square foot in Gilroy is $291, which is lower than the San Jose Metro average of $454. The median price of homes currently listed in Gilroy is $614,007 while the median price of homes that sold is $565,000. The median rent price in Gilroy is $1,845, which is lower than the San Jose Metro median of $2,750.

Foreclosures will be a factor impacting home values in the next several years. In Gilroy 2.0 homes are foreclosed (per 10,000). This is greater than the San Jose Metro value of 0.7 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Gilroy is 7.2%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Gilroy homeowners underwater on their mortgage is 7.9%, which is higher than San Jose Metro at 4.6%.

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Relative ZHVI
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Gilroy Market Overview

Data through Aug 31, 2014
  • $589,500 ZHVI
  • 7.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $614,007 Median listing price
  • $565,000 Median sale price
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Gilroy Market Health

Data through Aug 31, 2014
  • 8.2/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 7.9% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 7.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2 homes Gilroy
0.7 homes San Jose Metro
4.3 homes United States
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Nearby Cities

Name Median ZHVI
San Martin $892,900
Morgan Hill $734,100
Aptos $712,100
Name Median ZHVI
Soquel $663,200
Aromas $507,000
San Juan Bautista $453,200
Name Median ZHVI
Watsonville $411,500
Hollister $401,000
Salinas $342,300

Listings & Sales

Data through Aug 31, 2014
  • $291 Median list price / sq ft
  • $290 Median sale price / sq ft
  • 33.6% Listings with price cut
17.2%
Sold below listing
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Gilroy Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $2,695 Gilroy
    $3,101 San Jose Metro
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,845 Rent list price
  • No data Rent list price / sq ft
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