Real Estate Market Report - San Jose, CA (Nov, 2023)
Current Market Condition
4,636
Active Listings
3,734
Pending Listings
$1,099,000
Median List Price
The median sale/list price for the first data set ranges from $975,000 in January 2023 to $1,198,000 in April 2023, with a slight dip in July and a small increase in August. The median sale/list price for the second data set ranges from $1,002,500 in February 2023 to $1,250,000 in June and September 2023, with a peak of $1,301,307 in March 2023.
Median Sale/List Price
The median sale price per square foot shows a decreasing trend from November 2022 to February 2023, with a slight increase in March 2023 followed by a significant increase in June 2023. The highest median sale price per square foot is recorded in July 2023, indicating a potential peak in the real estate market.
Median Sale Price per Square Foot
The median sale price to list price ratio remains relatively stable around 0.984 to 0.983 in the first few months of 2023, but then increases to 1.0 in February and stays above 1.0 for the rest of the year, indicating that houses are selling above their list price. The highest ratio occurs in June at 1.029 and then slowly decreases towards the end of the year to 1.012.
Median Sale Price to List Price Ratio
According to the data provided, the number of properties sold/listed increased from November 2022 to March 2023, peaking at 1,247 in March, before gradually decreasing to 1,140 in October 2023. However, the number of properties sold/listed in the same period in the previous year was consistently lower than in the current year, with a significant drop from 632 in March 2023 to 300 in January 2023.
Properties Sold/Listed
The median days on market for homes in the studied area fluctuated between 39 and 62 days between November 2022 and October 2023, with the highest median days on market occurring in January 2023 and the lowest occurring in March 2023. Overall, the median days on market remained relatively stable, with only small fluctuations throughout the year.
Median Days on Market
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