How’s the Blossom Valley real estate market? How hard is it to sell a house there now? (Check the Almaden Valley real estate market here.)
About half the active listings of single family homes for sale in the Blossom Valley district of San Jose are either short sales or REOs. For all of area 12 (our MLS name for this part of San Jose), as of right now there are 124 houses listed and 61 of them are either short sales or bank owned homes (REOs). (Blossom Valley is 2/3 95123 and 1/3 95136.)
Today we’ll look at the market generally and also see how the high end is faring there – most expensive homes being those listed at or over $550,000.
Months of inventory reflects the ratio between available homes (not under contract) with those which have sold/closed in the last month. That’s the absorption rate, or how fast homes that go on the market are being absorbed by buyers.
How “hot” is the market in Blossom Valley? It depends. Bank owned homes are flying off the market – particularly the most expensive ones.
Short sales are the coldest, hardest to sell – especially the most expensive ones.
Normal sale? The lower the price, the easier it is to sell. But even the most expensive homes are only at 4 months of inventory, which the National Association of Realtors would call a seller’s market. Here, though, we wouldn’t view it that way because Silicon Valley real estate usually moves a lot faster than that.
In addition to sale type and price point, there are many other factors which make a home more or less difficult to sell. Getting the pricing right is huge and probably the most important element of all. Staging, marketing, accessibility are all key too. If you’re interested in selling or buying a home in Blossom Valley, please contact me today and we can discuss it.