The housing market in Morgan Hill continues to see strong price appreciation, with values up 20.2% compared to last year. The median home price of $549,900 represents a substantial 20.2% increase from this time last year. At the current pace, all available homes in Morgan Hill would sell out in just 1.0 months, indicating a continued supply shortage. Homes are now taking an average of 94 days to sell, significantly longer than the 10 days typical for this market. A significant 100.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Morgan Hill market with the affordability index at 1791.2. Looking ahead, the Morgan Hill market is expected to maintain its current trajectory with relatively stable conditions.