JoannResto102
Aus Salespoint
Purchasing a Homes in San Jose CA - Is Now time to purchase San Jose Real Estate
There are lots of reasons for San Jose real estate that you'll want to know before you begin getting seriously interested in the properties for sale there. As of October 2010, there are specific price trends, demand trends, total inventory of homes, and market problems that you should educate yourself about. This will help you know where and when to buy your first or next home in San Jose, California.
Prices on homes for San Jose real estate are searching very good at this time. In November of this past year, prices were a bit steep in a median of $540,000 as opposed to just under $500,000 now for an identical home. Keep in mind that "median" is not the same as "average." In real estate, medians are usually used rather than averages just because a few high-end homes can skew the numbers significantly. By calculating the median, or midpoint, a more accurate representation of local housing prices is given.
The interest in homes raised and lowered a bit from January to May of the year. In May, the demand for house skyrocketed within the popular spring buying time because the average number of days on the market plummeted from 150 days to about 80. Since then, the number of days that San Jose property stays on the market before being sold has leveled out at about 100.
The quantity of "inventory" only denotes the quantity of San Jose real estate that is on the market. When the inventory is higher, there's a great supply for buyers to select from, allowing them to have a greater say in setting the price.The amount of homes for sale in San Jose has been climbing steadily since mid January of the year. Then there have been 1,500 properties for sale so that as of October 3, 2010, 2,858 homes were on the market.
The market conditions have been heading steadily in one direction since January of the year. By taking median price, inventory levels and days available on the market into consideration, it is possible to calculate what kind of market it is. Currently, listed homes may last for many months on the market while keeping a current sale rate. This is known as a "cold market" or a buyer's market. In markets such as this, prices are bound to fall and buyers can negotiate lower prices. What this means is if you are thinking about investing in San Jose property, this is the time to do this!
