San Jose Housing Market Buzz: The real estate landscape in San Jose recently witnessed a significant transaction, as a spacious property located in the 1600 block of Grizilo Drive changed hands on November 22, 2023. The 1963 2,191-square-foot home sold for $2,025,000, or $924/sqft. This two-story house offers five bedrooms and three bathrooms, adding character. Two-car garages are better for cars and storage.
In addition to this sale, other properties in the vicinity have undergone recent transactions, reflecting the diverse real estate market in San Jose:
1. 1600 Block of Don Avenue (November 2023):
– Size: 2,191 square feet
– Sale Price: $2,075,000
– Price per Square Foot: $947
– Features: 5 bedrooms, 3 bathrooms
2. Cheryl Ann Court (August 2023):
– Size: 2,205 square feet
– Sale Price: $2,411,000
– Price per Square Foot: $1,093
– Features: 4 bedrooms, 3 bathrooms
3. Stacia Drive (August 2022):
– Size: 2,132 square feet
– Sale Price: $1,995,000
– Price per Square Foot: $936
– Features: 4 bedrooms, 3 bathrooms
These transactions exemplify the diverse range of properties in San Jose, with varying sizes, features, and pricing structures contributing to the dynamic nature of the local real estate market. Each property tells a unique story, catering to the diverse preferences and needs of homebuyers in the area.
Also Read: Housing Hopes and Auld Lang Syne: Navigating the Journey into 2024
Our Reader’s Queries
How much have home prices dropped in San Jose?
Zillow predicts a decline in home prices in the San Jose and San Francisco markets in the coming year. San Jose is expected to experience the biggest drop in home prices among the top 100 metro areas in the US, with a projected decrease of 6.1%.
Is it a good time to buy a house San Jose?
Despite a dip in home values last year, San Jose and Santa Clara County are now seeing a steady increase in home prices. This trend is expected to continue, potentially leading to record-high list prices and median home values in San Jose. It’s clear that the real estate market in this area is thriving, and homeowners can expect to see a significant return on their investment in the coming years.
Is San Jose a buyers or sellers market?
San Jose, CA saw a slight decrease in median home prices in December 2023, with the average list price coming in at $1,098,888 compared to $1,149,000 in 2022. Despite this, the city remained a seller’s market, with more buyers than available homes.
What cities in the Bay Area have the biggest decline in home prices?
The San Jose metro area is expected to experience a significant decline in home values by November 2024, with a projected drop of 6.1%. This is the largest negative percentage change among all areas analyzed. New Orleans and San Francisco are also expected to see a decline in home values, with projected drops of 6% and 4.8%, respectively. These projections suggest that the real estate market in these areas may face some challenges in the coming year.