San Jose Housing Market Heat: In the heart of San Jose, a stylish condominium found new owners on Nov. 9, 2023. This modern residence in the 1500 block of Hummingbird Place boasts a $2,100,000 price tag, translating to $1,130 per square foot for its 1,858 square feet of interior space. Constructed in 2010, this three-bedroom, four-bathroom apartment offers comfort with its forced air heating and cooling system. The lucky buyer also gains exclusive access to a one-car garage, ensuring both parking convenience and extra storage space.
Other neighboring units have recently changed hands as well:
– On Rainbow Drive, San Jose, a 1,469-square-foot unit was sold in September 2023 for $1,550,000, amounting to $1,055 per square foot. This unit features 3 bedrooms and 3 bathrooms.
– The 20500 block of Oak Creek Lane in Saratoga witnessed the sale of a 1,807-square-foot unit in November 2023, fetching $1,660,000, or $919 per square foot. With 3 bedrooms and 3 bathrooms, it promises a comfortable living experience.
– In July 2023, another 1,807-square-foot unit on Oak Creek Lane in Saratoga changed hands for $1,575,000, marking $872 per square foot. Offering 3 bedrooms and 3 bathrooms, this property radiates charm and modernity.
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Our Reader’s Queries
Are house prices going down 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.
What city has the hottest housing market?
Zillow has recently released its list of the top 10 housing markets for 2024. The list includes Buffalo, New York, Cincinnati and Columbus in Ohio, Indianapolis in Indiana, Providence in Rhode Island, Atlanta in Georgia, Charlotte in North Carolina, and Cleveland in Ohio. These cities are expected to experience significant growth in the housing market in the coming years, making them attractive options for those looking to invest in real estate. Keep an eye on these markets if you’re interested in buying or selling property in the near future.
Why are houses in San Jose so expensive?
San Jose’s housing prices are 26% higher per unit compared to neighboring counties like San Francisco and Alameda. This is due to a shortage in the labor market and differences in wage structures, according to a recent report.