This week the median list price for San Jose, CA 95120 is $1,689,400 with the market action index hovering around 85. This is an increase over last month’s market action index of 80. Inventory has held steady at or around 26.
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
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
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!