San Jose Real Estate Market Heating Up!
Don’t Get Left Behind the Hot San Jose MarketPosted on October 23, 2012 by Joey.
The website Realtor.com recently published some year-over-year statistics for real estate markets around the country, http://www.realtor.com/data-portal/Real-Estate-Statistics.aspx. In the past year, the San Jose median real estate list price was up 17.50% to $579,000! That is the fourth highest increase in the nation, bested only by Phoenix, our neighbors up north in San Francisco, and Santa Barbara. Compare that to the national median of $191,500, up only 0.78% in the same time frame.
Besides the drastic increase in median price, the median age of inventory plummeted to 49 days, a decrease of 30%! That means homes are being sold 30% faster than one year ago. This is much better than the national median of 95 days, still a decrease of 11% in the last year. The combination of a short time on market and higher price indicates that demand is growing quickly again.
Of course, these past results don’t guarantee any future performance, and you should be extremely careful in purchasing real estate solely as an investment. That being said, if you need to live in a house anyway, purchasing a home in San Jose might reap some long-term returns, and indications are that the housing market in San Jose is charging ahead at the moment.
The area in and around Almaden Valley has some of the nicest properties in San Jose, and that is my specialty. If you would like some help with your San Jose real estate needs, especially in the area of Almaden Valley real estate, please don’t hesitate to contact me with your questions. I am here to help!