MountsOubre814
Buying a Homes in San Jose CA - Has become time to Buy San Jose Real Estate
There are many things about San Jose property that you will want to know before you begin getting seriously interested in the properties for sale there. As of October 2010, there are particular price trends, demand trends, total inventory of homes, and market conditions that you need to become knowledgeable about. This will help you know when and where to purchase your first or next home in San Jose, California.
Prices on homes for San Jose real estate are looking very good right now. In November of this past year, prices were a bit steep in a median of $540,000 as opposed to just below $500,000 now for the same home. Keep in mind that "median" isn't the just like "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 offered.
The demand for homes raised and lowered a bit from January to May of this year. In May, the demand for house skyrocketed in the popular spring buying time because the average number of days on the market plummeted from 150 days to around 80. Since that time, the amount of days that San Jose property stays available on the market before being sold has leveled out at about 100.
The amount of "inventory" simply means the amount of San Jose property that's on the market. Once the inventory is higher, there is a great supply for buyers to choose from, letting them have a greater say in setting the price.The number of homes for sale in San Jose continues to be climbing steadily since mid January of the year. Then there have been 1,500 homes for sale so that as of October 3, 2010, 2,858 homes were on the market.
The marketplace conditions have been heading steadily one way since January of the year. By taking median price, inventory levels and days on the market into account, it is possible to calculate what type of market it is. Currently, listed homes may last for many months available on the market while keeping a present sale rate. This is called a "cold market" or a buyer's market. In markets such as this, prices are bound to fall and buyers can negotiate affordable prices. This means if you're thinking about investing in San Jose real estate, now is the time to do so!
