The San Jose Real Estate Market Soars: In a bustling week for San Jose’s real estate, a $2.9 million residence leads the chart. With 10 transactions, averaging $1.8 million, the city’s housing market is thriving. The trend showcases the area’s robust demand for diverse, high-quality homes. From a charming 1971 build at $1.5 million to a luxurious 1983 residence at $2.9 million, San Jose’s real estate market reflects a dynamic mix of properties catering to various tastes and needs.
Prices are based on recorded titles during the week of Nov. 13.
1. $2.9 Million Marvel: Dominating the list is a $2.9 million single-family home in the 7200 block of Gold Creek Way. This 1983-built residence boasts 2,837 sq ft, featuring four bedrooms and three bathrooms. The per-square-foot price stands at $1,005.
2. Luxury at $2.1 Million: The 1700 block of Comstock Lane witnesses a $2.1 million sale. A charming 1962 build, this detached house spans 1,622 sq ft, offering four bedrooms and two bathrooms. The per-square-foot cost is $1,267.
3. **Elegance in the 2700 block:Another $2.1 million transaction occurs in the 2700 block of Westgate Ave. This 1955-built property, with a living area of 1,755 sq ft, features three bedrooms and two bathrooms. The price per square foot is $1,191.
4.Enchanting Bel Escou Drive: A residence in the 4900 block of Bel Escou Drive fetches $1.8 million. Built in 1953, this home covers 1,180 sq ft, hosting three bedrooms and two bathrooms. The per-square-foot price reaches $1,547.
5.Herring Ave. Gem: The 15400 block of Herring Ave. witnesses an $1.8 million sale. This 1947-built home offers 1,896 sq ft, comprising four bedrooms and three bathrooms. The per-square-foot cost stands at $960.
The San Jose real estate landscape, marked by diverse offerings and robust demand, continues to captivate buyers seeking homes that blend style, comfort, and functionality. As the market remains dynamic, these recent transactions showcase the city’s vibrant housing scene.
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Our Reader’s Queries
Are housing prices going down in San Jose?
The San Jose metro area is expected to experience a significant drop in home values by November 2024, with a projected negative percentage change of 6.1%. This is the largest decline among all areas analyzed. New Orleans and San Francisco are also expected to see drops of 6% and 4.8%, respectively. In contrast, home values across the nation are expected to remain flat.
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.
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 good place to invest in real estate?
Despite the mortgage rates being higher at 6.27 percent in 2023 compared to January 2022, the housing market is expected to remain stable due to the tight supply. San Jose real estate is expensive, and the median listing home price is significantly higher, which are other factors to consider. Overall, the market is expected to remain steady.