San Jose, CA 95125
This week the median list price for San Jose, CA 95125 is $1,561,500 with the market action index hovering around 80. This is an increase over last month’s market action index of 75. Inventory has held steady at or around 34.
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 have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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!