Sam Shueh
Realty One Group
Silicon Valley, CA
This area encompass east of Almaden Expressway, south of Capitol Expressway except Communication Hills all the way to Bernal Road covering 95136, 95123, 95119 and 95139 zip codes.
approx boundary of Blossom Valley area
Single Family homes: 3 br+, 2 bath+ (1400-2000 sf)
Total listings SFH = 85
Inventory: 1.1 month (2.5 month is healthy)
unemployment rate=4.3% (SJC)
Sold/Asked=104.8%
Marketing time=14 days
Avg home(1400-2,000 sf)
$828.7K (Apr-June 2016) $752K (1 yr ago) +10.2%
$504/sf $459sf + 9.8%
The home price appreciation rate matches to overall San Jose City prices in reference 1 below and study from 2014-2015 same period.
Homes in south San Jose sales based on 4559 sales
The price increase rate matches or exceed previous year (2014-2015 same period). The reason is the area homes is still more affordable than central or west part of city. People are still often fight over to get in. All homes have more buyers than sellers at 104.8% sold/listed ratio.
We have been having a robust steep price increase since last quarter of 2011 or over 5.5 years now. There is no slow down. I have seen retirees who are cashing out their big equity and are moving out the state. Also those in community properties are finally got a real home.
SOURCE:
San Jose, CA June Home Prices (June 2016 San Jose Home prices)
Blossom Valley Home Prices (Blossom Valley July 2015 home prices)
Shueh, Sam (Sam Shueh Blogs)
Shueh, Sam (Sam Shueh Realtor website)
Sam Shueh
I've called San Francisco South Bay home for over 30 years. We love this area and all it has to offer, and I enjoy sharing what I know about homes. I documented in several books about Silicon Valley history. I have much expertise in real estate...please give me a call. ( Four-O-Eight) 425-1601 Sam Shueh Realtor website
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