San Jose Real Estate - How is the Market Doing?
San Jose is widely considered by many to be the heart of Silicon Valley, California. It is the third-largest city in the state, with a population of around 950,000 people. While it saw some of the highest real estate growth rates in the country during the housing boom, real estate shoppers may be asking themselves just how the market in and near this part of Silicon Valley is doing. The answer is, surprisingly, not bad at all. In fact, when it is compared to other parts of the country and even the state, the San Jose real estate market is doing quite well.
Currently, there are around two thousand new and resale homes listed for sale. Additionally, about five thousand homes in various stages of foreclosure including the auction, bank owned, or pre-foreclosure phases. Median home prices have increased over the past year, by an average of around three thousand dollars. Four hundred seventy five to five hundred thousand dollars is the average cost of purchasing a home in San Jose. Paradoxically, the average per square foot price decreased about 1.7 percent. Unfortunately, the number of home sales completed in this area decreased over thirty percent from last year.
Some of the most popular areas for real estate purchases in San Jose are the communities of Evergreen and Willow Glen, with average listing prices of homes around 700,000 dollars.
Edenvale, Alum Rock, and Berryessa are also among the most popular areas (in terms of home sales) in San Jose, and feature homes in the 400,000 to 500,000 dollar range. South San Jose, Evergreen, Almaden Valley, Willow Glen and West Valley are communities which have recently made strong showings in the real estate marketplace, with average home prices ranging anywhere from 400,000 dollars up to over one million dollars, depending upon location and specific homes.
A wide variety of homes and properties are listed for sale and home buyers of all income levels are likely to find something within their budget. Some homes in the area can be purchased in the low 100,000 dollar range, and as high as several million. With a crime rate well below the state average, a respected school system, and a great location that is a short drive away from countless entertainment and relaxation locations such as museums and national parks, it's no wonder so many Californians are choosing to purchase a home in or near San Jose.
About the Author:
As Realtor Consultants, Don and his team give their clients all the information they need to make Good Real Estate Decisions. Visit us today and find out why more people choose http://www.siliconvalleyrealestateteam.com/.
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