Where Are People Buying Homes in San Jose This Month?

By
Real Estate Agent with The Papas Group (DRE #01766524)

Where Are People Buying Homes in San Jose This Month?


To answer that question, we need to look into the Multiple Listing Service (MLS) database and select listings categorized as “Pending Sales”. This category is selected when a seller has accepted an Offer to Purchase from a buyer. The San Jose MLS has multiple categories of “Pending Sale” and I’m going to aggregate there here to simplify the discussion.

San Jose Pending Sales 2/2011

Here are the results a search of the Multiple Listing Service (MLS) database for all the San Jose neighborhoods across the bottom and he number of Pending Sales in each as of this morning 2/18/2011.

The chart shows us that the Top 5 San Jose neighborhoods where offers were accepted so far in February 2011 are:
  1. Cambrian = 28 offers accepted
  2. Willow Glen = 24 offers accepted
  3. Evergreen = 22 offers accepted
  4. Alum Rock and Central San Jose tied = 21 offers accepted
  5. Almaden Valley = 19 offers accepted
For Price ranges, the bottom of each column is the highest price range and the top of each column is the lowest price range. The majority of sales fall into two distinct price ranges:

  1. $400K-$499K = 34 offers accepted
  2. $500K-$599K = 45 offers accepted
What does this mean for sellers? If your property is in the price range of $400k-$599K, you appear to be in a good place to sell when an offer is sent to you. Go for it!


What does this mean for buyers? There is lots of competition for decent homes in the price range of $400K-$599K. Make your best offer up front, as you may have competition from other buyers!

Who is going house-hunting on this 3-day weekend and what are you shopping for in San Jose?

 

Comments (4)

Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

I'm jealous.  Look at that chart.  Wow!  That is pretty much the story here.  The lower end of the price range is what sells quickly and goes into multiples. 

Feb 18, 2011 02:59 PM
Paul Caloca
The Papas Group (DRE #01766524) - Scotts Valley, CA

Thank you Jane, I could not have (over)done it without your generous help!

Feb 18, 2011 06:26 PM
Ann Dail
Baton Rouge Area Homes, Louisiana, USA, 225-761-0551 - Baton Rouge, LA
Broker/Realtor,CRS, ePRO, SRS, B.A.Chem

This is a ver eye-catching graph!

Mar 09, 2011 10:30 AM
Paul Caloca
The Papas Group (DRE #01766524) - Scotts Valley, CA

I thank Jane Peters for her graphs and for her taking the time to show me how she made them. Check out Jane's blog at http://activerain.com/blogs/janepeters.

Mar 10, 2011 06:15 AM