Morgan Hill's median sale price fell 2.0% to about $1.28 million in the three months through September 2026, and about 41% of homes had a price drop, up nearly 9 points.
The numbers
- Median sale price: $1,281,890, down 2.0% year over year
- Price per square foot: about $567, down 3.2%
- Homes sold in September: 108, down from 124 a year earlier
- Median days on market: 41, unchanged
- Sale-to-list ratio: 99.9%, up 0.5 points; 39.6% of homes sold above list
- Homes with price drops: 40.6%, up 8.6 points
What Zillow shows
Zillow's Home Value Index puts the typical Morgan Hill home at $1,316,319 as of Sept. 30, 2026, up 3.3% from a year earlier. Zillow says homes go pending in about 27 days.
What it means for buyers and sellers
Redfin's Compete Score for Morgan Hill is 44, "somewhat competitive," one of the lowest in the South Bay. The average home sells for around list price and goes pending in about 40 days; hot homes go about 2% over in around 13 days. With more price cuts and fewer sales, buyers have more negotiating room here than in Los Gatos or Gilroy.
Redfin figures cover the three months through September 2026 and compare with the same period a year earlier. Zillow's Home Value Index is a typical-home estimate, not a sale price, so the two numbers measure different things and won't match exactly.