How’s the real estate market in the Willow Glen area of San Jose? Most of Silicon Valley, Santa Clara County and San Jose is seeing a softening of the market and a flattening of prices. There are still many multiple offers, but prices are not getting pushed up as high as before. Sellers expecting overbids of $50,000 may see them at 10 or 20 instead. And those planning on $100k overbeds are getting maybe 60k – if that. There are lots of variables, but generally speaking, it’s a softening market. Some of this is seasonally normal but it’s a little more than that.
Overall, listing and sales activity seems to be strong in Willow Glen right now, and prices up year over year (though slipping some month over month). The closed sale info is “history” so please take that with a big grain of salt. Below are the basic numbers, stats and trends from the closed sales of houses for last month. Further down in this article you’ll find the Altos Research charts as well.
|TRENDS AT A GLANCE||JUL 2014||PREVIOUS MONTH||YEAR-OVER YEAR|
|Median Home Price||+0.8%||$940,000||$933,000||+8.7%||$865,000|
|Average Sales Price||-2.5%||$1,034,200||$1,060,800||+10.1%||$939,708|
|No. of Homes Sold||-21.3%||59||75||-28.9%||83|
|Short Sales Sold||N/A||0||0||-100.0%||3|
|Active Short Sales||N/A||0||0||-100.0%||6|
|Sales Price vs. List Price||-1.4%||101.5%||102.9%||-1.2%||102.7%|
|Average Days on Market||+21.0%||21||18||+24.3%||17|