Wed Oct 04 2023
This week the median list price for San Jose, CA 95118 is $1,399,000 with the market action index hovering around 86. This is an increase over last month's market action index of 84. Inventory has decreased to 3.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,399,000|
|Median Price of New Listings||$1,200,000|
|Per Square Foot||$988|
|Average Days on Market||12|
|Median Days on Market||14|
|Strong Seller's Market|
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,499,000||1,202||6,500 - 8,000 sqft||3||2||64||0||0||14|
|$1,399,000||1,687||4,500 - 6,500 sqft||4||3||64||0||2||21|
|$1,200,000||1,214||4,500 - 6,500 sqft||3||2||69||1||1||0|