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This is a real estate market activity report for Blossom Valley in San Jose, CA. This report is comprised of data extracted from our local Multiple Listing Service (“MLS”) as of May 1, 2016.
Single Family Homes Market Report April 2016
- 50 Active Single Family Homes
- 79 Pending Sales (Under Contract)
- 55 Sold Homes
- Average List Price: $812,325
- Average Sales Price: $846,727
- Average Sales Price to List Price: 104%
- Average Days on Market: 18
- Absorption Rate: 0.91 months of inventory which equates to an extreme Seller’s market
Condos and Townhouses Market Report April 2016
- 20 Active Condos and Townhouses
- 49 Pending Sales (Under Contract)
- 55 Sold Condos and Townhouses
- Average List Price: $463,796
- Average Sales Price: $487,023
- Average Sales Price to List Price: 105%
- Average Days on Market: 13
- Absorption Rate: 0.36 months of inventory which equates to an extreme Seller’s market
Market reports can be boring and/or confusing to many people. As a professional serving the Blossom Valley real estate market it is imperative that I not only track the market but understand and interpret the data as well. It is important to keep in mind that the data only tells part of the story. Only a real estate professional with first-hand knowledge of the local market can connect the dots and complete the story. Knowledge such as current market conditions, physical location of homes, condition, and recent renovations completed.
Supply and Demand: Low inventory and high buyer demand will drive prices up. It is not uncommon for a Blossom Valley home to sell $100,000 and more over asking price. Some agents will list substantially below market value. Market value is primarily derived from recent comparable properties sold. As a listing professional who utilizes a value based approach to listing a home for sale, sellers are served best when the list price is at or slightly below market value.
Value Based Approach To Listing Blossom Valley Homes for Sale
When listing a Blossom Valley home for sale 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 only way to accurately determine the current market value of a Blossom Valley home is for a Blossom Valley Specialist to physically see and walk the interior and exterior of the home and ask many questions designed to determine what may be hidden value in the home.
The value based approach means we do not utilize Automated Market Valuation (“AVM”) of homes. AVM’s are good for Homeowners who are looking for a general idea of what their home is worth and have no plans on selling. Homeowner’s who are absolutely needing to sell their home want a professional valuation for a current and accurate home value.
Value Based Approach To Selling Blossom Valley Homes
The value based approach in working with Buyers means Buyers must be well-qualified, pre- approved for a mortgage loan or have sufficient funds for an all cash purchase, and ready to make the home purchase.
Whether you are looking to sell a Blossom Valley home or buy 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 1.408.972.1822.Tags: 95123, 95136, Blossom Valley, real estate market, sale price to list price ratio, San Jose