New Homes.org Real Estate Report Released – San Jose Home Sales

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The latest Homes.org real estate market report features information on home sales in San Jose, CA. The report provides details on the latest activity in the San Jose real estate market, including data on current sales figures, foreclosures and insight from industry experts on possible trends in the San Jose area.

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Buyers, if you really want a particular home, your attitude must be to win the deal.

The newest real estate report from Homes.org details current activity and trends in the San Jose real estate market during Q1 2012. Using the most recently updated sales figures, the Homes.org report outlines what’s driving the market and what buyers and sellers can expect in the weeks and months to come.

According to data provided by the Santa Clara County Association of Realtors, the San Jose real estate market progressively improved over the first quarter of 2012. Below are some key findings:

  •     Total Sales for both single-family homes and condos/townhomes improved month over month in Q1 2012
  •     Homes are consistently selling for more than 98% of the list price
  •     Median Sales Price for a single-family home has went from $437, 500 in January to $495,000 in March
  •     Median Sales Price for a condo/townhome has went from $249,000 in January to $270,000 in March

The Q1 numbers show a favorable market in San Jose, with home prices increasing yet still more affordable than they have been in the past. Affordability paired with record low interest rates has lead to a lot of activity in the area. Compared to 2011 home prices are up significantly low and the level of inventory is down significantly.

With activity heating up Barbara Lymberis, president of the Santa Clara County Association of REALTORS® had this advice for people looking to buy a home in the San Jose area, “buyers, if you really want a particular home, your attitude must be to win the deal. This is not a market for the faint of heart.”

San Jose Real Estate Market Latest Information and Statistics

County: Santa Clara

Zip Codes in the City: 95101–95103, 95106, 95108–95139, 95118, 95141, 95142, 95148, 95150–95161, 95164, 95170–95173, 95190–95194, 95196

Population: 971,372

Population (Metro): 1,975,342

Total Households (2006-2010): 300,111

Renters vs. Owners (2006-2010): 39.8% vs. 60.2%

Type of Home:
73% Single Family
19% Condo
8% Other

Median Value Owner Occupied Housing (2006-2010): $633,800
Q1 2012 Total Single-family Home Sales in San Jose:

  •     372 (January)
  •     384 (February)
  •     515 (March)

Q1 2012 Total Condo/Townhome Sales in San Jose:

  •     135 (January)
  •     178 (February)
  •     239 (March)

Q1 2012 Average Sale Price for a Single-family home in San Jose:

  •     $503,389 (January)
  •     $525,734 (February)
  •     $568,882 (March)

Q1 2012 Average Sale Price for a Condo/Townhome in San Jose:

  •     $267,214 (January)
  •     $277,470 (February)
  •     $298,080 (March)

Popular San Jose Neighborhoods Seeing Improvement in Sales

  •     Alum Rock-East Foothills
  •     Berryessa
  •     North Valley
  •     West San Jose

To learn more about real estate in California or to search for licensed real estate agents in San Jose, CA, please visit: Homes.org

About Homes.org

Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures®

Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine's core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

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Ace Elliott
Homes.org
512-538-2215
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