The real estate market is crazy-hot for sellers and presenting “real” challenges for buyers as they compete in bidding wars for homes . Some San Jose markets are hotter than others yet the entire San Jose and Silicon Valley real estate market continues to see high demand coupled with vanishing numbers of homes for sale.
Let’s see how the June market measured up in the Summer heat!
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 June 1st through June 30, 2017 extracted from our local Multiple Listing Service (“MLS”) as of July 1, 2017.
June 2017 Single Family Homes Market Activity Report
- 27 Active Single Family Homes. A decrease from 40 homes the previous month.
- 1 bank-owned home
- 66 Pending Sales (Under Contract). An increase from 72 homes the previous month.
- 3 pending sales are short sales
- 1 pending bank owned property
- 79 Sold Homes. An increase from 67 homes the previous month.
- 1 bank-owned home
- Average List Price: $839,820
- Average Sales Price: $878,690
- Average Sales Price to List Price: 104.5%
- Average Days on Market: 12
- Absorption Rate: 0.35 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.
- $1,255,000 was the highest price home sold in Blossom Valley in June 2017.
- $535,000 was the lowest price home sold in Blossom Valley in June 2017.
Inventory continues to shrink and demand continues to expand. Buyers remain challenged to win bidding wars in Blossom Valley and many markets in San Jose and Silicon Valley.
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 June 2017
- 10 Active Condos and Townhouses. A decrease from 15 the previous month.
- 37 Pending Sales (Under Contract). An increase from 29 homes the previous month.
- 1 pending sale is a short sale
- 31 Sold Condos and Townhouses. A decrease from 47 homes the previous month.
- Average List Price: $544,474
- Average Sales Price: $573,805
- Average Sales Price to List Price: 105.3%
- Average Days on Market: 11
- Absorption Rate: 0.3 months of inventory which equates to an extreme Seller’s market
- $765,950 was the highest price condo sold
- $360,000 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 means 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 for a current and accurate home value.
When selling a Blossom Valley home the process starts with a conversation to discuss your specific needs, wants, wishes and desires. When you are ready to get started, give me a call. I may be reached at my office at 408.972.1822.