Gilroy First-Time Homebuyer Report for January

Gilroy has a cost of living adjustment score of 148.1, which is expensive when compared to others in California. Also, the area is considered very affluent with a median income of $72,652 per household. Gilroy is made up of homes that are relatively old with a median of 27 years. The best school in the city is Luigi Aprea Elementary School.

Culture

According to Foursquare, In-N-Out Burger, Black Bear Diner, and Chevys Fresh Mex are the most popular spots to eat in Gilroy. If you'd like to grab a drink, a popular spot is Platinum Theatres. You could also check out the popular Panera Bread for a cup of coffee.

Price Range

Gilroy has some of the more expensive homes in the state with a median home value of $369,200 and a current average list price of $729,877. The Gilroy market pulled back with a 7.0% sales drop in this week's report. Overall sales numbers for the last 30 days remained below the 43.8 monthly average with 40 homes sold.

Make sure you take a look at these eye-catching homes in Gilroy that generated the most views from potential buyers:

$349K   $659K   $640K  

Typical Dwelling

A four-bedroom detached home valued around $729,350 is considered a typical dwelling in Gilroy. If a buyer was looking for a similar home, they would need good credit and a $145,870 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $2,779 and the property tax rate is $5.62 per $1,000 of taxable assessed value.

Get started right now by checking out Gilroy homes for sale or reviewing Gilroy real estate trends.


Data reported through 1/12/2017

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