This week the median list price for San Jose, CA 95125 is $1,487,450 with the market action index hovering around 86. This is an increase over last month’s market action index of 80. Inventory has held steady at or around 30.
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.
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!