San Jose, Ca First Quarter Real Estate Market Update 2020 for Single Family Homes
San Jose First Quarter Real Estate Market Update 2020 for Single Family Homes
In San Jose, the medium sales price for single family homes was $1,185,000 and sold in just 8 days for 105% of the asking price based on 812 sales in the first quarter of 2020.
• Closed single family homes sales decreased to 812 unit sales compared to 948 unit sales, which is a decrease of 14% in the first quarter of 2020 when compared to the first quarter of 2019.
• The median sales price for single family homes was $1.19M compared to $1.08M in the first quarter of 2019 which is a 10% increase.
• Median days on market (DOM) for single family homes dropped to 8 days from 16 days which was a 50% decrease from the first quarter of 2019.
• Number of New listings for single family homes dropped to 1193 units from 1453 units, which is a decrease of 18% from the first quarter of 2019.
• Average List price received for single family homes increased to 105% from 101%, which is an increase of 4% from the first quarter of 2019.
• Average Price per sqft for single family homes increased to $693 per sqft from $674, which is a decrease of 3% from the first quarter of 2019.
Overall the real estate market in San Jose, Ca is very strong due to lack of inventory and strong buyer demand.
Gina Arigna and Amit Singh have been helping Santa Clara, Alameda and San Mateo County residents purchase and sell residential real estate for the past 15 years. They currently work at Keller Williams Silicon City which is located in San Jose,Ca. They have helped many buyers realize their dream of homeownership by offering expert market knowledge, complimentary market snapshot, access to Keller Williams connections, expert negotiation and offer presentation, agent availability, responsiveness and post home purchasing assistance to name a few. They have helped many sellers sell their home for top dollar, in a short period of time with the least hassle because of their complimentary and cutting edge marketing strategies. If you have any questions regarding the San Jose or Santa Clara County real estate market, please reach out to Gina Arigna (408.858.6679) or Amit Singh (650.521.2320) or visit www.arignahomes.com