San Jose First Quarter Real Estate Market Update 2020 for Condominiums and Townhouses
In San Jose, the medium sales price for condominiums and townhouses was $683,750 and sold in just 13 days for 101% of the asking price based on 428 sales in the first quarter of 2020.
• Closed condominiums and townhouse sales increased to 428 unit sales compared to 359 unit sales, which is an increase of 19% in the first quarter of 2020 when compared to the first quarter of 2019.
• The median sales price for condominiums and townhouse was $684,000 compared to $729,000 in the first quarter of 2019 which is a 6% decrease.
• Median days on market (DOM) for condominiums and townhouse dropped to 13 days from 20 days which was a 35% decrease from the first quarter of 2019.
• Number of New listings for condominiums and townhouse dropped to 590 units from 664 units, which is a decrease of 11% from the first quarter of 2019.
• Average List price received for condominiums and townhouse increased to 101% from 100%, which is an increase of 1% from the first quarter of 2019.
• Average Price per sqft for condominiums and townhouse decreased to $583 per sqft from $589, which is a decrease of 1% 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
