Mary Pope-Handy's Market Report
San Jose, CA
Condos/Townhomes
Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog
San Jose, CA
Wed Jun 07 2023
This week the median list price for San Jose, CA is $799,999 with the market action index hovering around 70. This is about the same as last month's market action index of 70. Inventory has increased to 139.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $799,999 | |
| Median Price of New Listings | $861,500 | |
| Per Square Foot | $665 | |
| Average Days on Market | 48 | |
| Median Days on Market | 21 | |
| Price Decreased | 23% | |
| Price Increased | 2% | |
| Relisted | 6% | |
| Inventory | 139 | |
| Median Rent | ||
| Market Action | 70 | |
| Strong Seller's Market | ||
The market appears to be hovering around this plateau. This week prices eased down a bit. The Market Action Index is a good leading indicator for the durability of this shift.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,292,000 | 1,719 | 0 - 4,500 sqft | 3 | 2.8 | 30 | 5 | 10 | 28 |
| $920,924 | 1,404 | 0 - 4,500 sqft | 2 | 2.5 | 22 | 7 | 11 | 14 |
| $749,000 | 1,125 | 0 - 4,500 sqft | 2 | 2 | 34 | 5 | 8 | 21 |
| $546,000 | 858 | 0 - 4,500 sqft | 1 | 1 | 35 | 5 | 7 | 21 |