Morgan Hill: November 2026 Housing Market Update
Welcome to your November 2026 Morgan Hill housing market update! Home sales in Morgan Hill have slowed down — but prices are still hanging in there. Here are three things you need to know this month.
Morgan Hill October Sales Snapshot
- Homes Sold in October (All Home Types): 26 homes, down 48% from 50 last October
- Single-Family Sold in October: 20 homes, down from 38 last October
- Single-Family Price per Sq Ft: $660, vs. $669 last October
- Median Price: $1.9 million
Morgan Hill Single-Family Inventory
- Active: 96 homes
- In Escrow: Only 18 homes
- Days on Market: 23, up from 15
- Supply: About 5 months
3 Things You Need to Know This Month
1. Sales Drop, Prices Hold
Morgan Hill closed 26 homes in October, down 48% from 50 last year. Single-family sales went from 38 to 20. But single-family price per square foot came in at $660 versus $669 last October — basically flat.
What about the jump in median price to $1.9 million? That's not prices surging — it's simply that bigger homes are selling.
2. Rates Are Up
On September 16, the Fed raised rates for the first time in three years. Mortgage rates have gone from about 6% in February to over 7% this fall. On a $1.5 million home with 20% down, that's roughly $1,050 more per month.
The market is feeling it. Days on market went from 15 to 23, and there are 96 single-family homes active with only 18 in escrow — about five months of supply.
3. Morgan Hill Is Growing
The City Council approved 105 new homes on DePaul Drive, and downtown, The Magnolias broke ground with 65 affordable homes. That means more competition for resale homes next year.
What This Means for Buyers & Sellers
For Buyers
This is your best negotiating position in years. With about five months of supply and homes sitting longer, ask for credits, repairs, and money toward your rate.
For Sellers
Price it right on day one. With more inventory, longer days on market, and new construction on the way, buyers have options — and an overpriced home will sit.
The Bottom Line
Morgan Hill sales have slowed sharply, with 26 homes closed in October versus 50 a year ago, but single-family prices are holding at about $660 per square foot. Higher rates and growing inventory have shifted leverage toward buyers, while sellers who price right from the start are still getting results.
Want to know what your home is worth? If you're thinking about making a move, buying or selling, reach out to us. We'll see you next month!
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