This is a real estate market activity report for Blossom Valley in San Jose, CA. The two primary zip codes in the Blossom Valley MLS area are 95123 and 95136. This report is comprised of data from February 1, 2018, through February 28, 2018, extracted from our local Multiple Listing Service (“MLS”) as of March 1, 2018.
The entire San Jose Silicon Valley real estate market continues to be hot hot hot for sellers. The hot seller market presents challenges for buyers who find themselves competing in bidding wars with buyers making offers substantially over list price with no contingencies. Demand remains high and inventory continues to shrink.
Sellers Beware – Don’t Be Fooled by Bidding Wars!
Don’t be fooled by a hot seller market creating bidding wars. An extreme lack of inventory does not mean a seller does not have to hire an agent with excellent marketing skills with a proven track record for listing, selling, and closing homes. All agents are not created equal just as all homes are not created equal. The homes creating extreme bidding wars are homes that are presented as a model home.
Let’s take a look at how the market performed in February 2018.
February 2018 Single Family Homes Market Activity Report
- 24 Active Single Family Homes. An increase from 10 homes the previous month.
- 47 Pending Sales (Under Contract). An increase from 40 homes the previous month.
- 37 Sold Homes. An increase from 22 homes the previous month.
- Average List Price: $934,443
- Average Sales Price: $1,054,718
- Average Sales Price to List Price: 113.2%
- Average Days on Market: 10
- Absorption Rate: 0.6 months of inventory which equates to an extreme Seller’s market.
- Read more about absorption rate and how it may impact the sale of a home.
A word of caution about statistical averages: The average list price and sold price is representative of the range of prices. Average prices are calculated by adding the total values of all homes and dividing that number by the number of homes listed and sold.
- $1,410,000 was the highest price home sold in Blossom Valley in February 2018.
- $500,000 was the lowest price home sold in Blossom Valley in February 2018.
Blossom Valley Homes For Sale Under $700,000
Blossom Valley Homes for Sale 700,000 to 800,000
Blossom Valley Homes for Sale 800,000 to 900,000
Blossom Valley Homes for Sale 900,000 to 1,000,000
Blossom Valley Homes for Sale 1,000,000 and above
Condos and Townhouses Market Activity Report February 2018
- 10 Active Condos and Townhouses. An increase from 9 the previous month.
- 30 Pending Sales (Under Contract). An increase from 16 the previous month.
- 15 Sold Condos and Townhouses. An increase from 9 the previous month.
- Average List Price: $559,123
- Average Sales Price: $608,967
- Average Sales Price to List Price: 109.1%
- Average Days on Market: 11
- Absorption Rate: 0.7 months of inventory which equates to an extreme Seller’s market
- $737,000 was the highest price condo sold
- $460,000 was the lowest price condo sold
Condo living is lifestyle living. Buyers are advised to make informed buying decisions by knowing the rules and restrictions of a condo association before deciding to buy a condo. Some associations are more restrictive than others. Knowing what homeowners can and cannot do is essential before deciding to purchase a condominium.
Value-Based Approach To Listing Blossom Valley Homes for Sale
When listing a San Jose home for sale in Blossom Valley it is important to carefully analyze market trends and recent statistical data. Analysis and good use of data mean the property will be positioned well for marketing designed to bring top dollar for the home.
The value-based approach means we avoid using an Automated Valuation Model (“AVM”) of homes. The location, condition, schools, and many other factors will impact the value of a home or condo. Homeowner’s who need to sell their home want a professional valuation of a current and accurate home value.
What’s the value of your home? The process starts with a conversation to discuss your specific needs, wants, wishes and desires. Call Kathleen Daniels, the independent broker of KD Realty in San Jose at 408-972-1822 or complete the form on the contact us page and we will connect with you to get the process started.