This week the median list price for San Jose, CA 95120 is $1,748,800 with the market action index hovering around 54. This is less than last month’s market action index of 58. Inventory has held steady at or around 51.
Market Action Index
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Strong Seller’s Market
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
If you would like a full market analysis for your home or to understand the trends in your buying search, please contact the Myrick Estates Team today!