Profile picture for kathleen limon

Are condos sales going up in San Jose

Almost ready to sell my condo
  • February 22 - Downtown
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Answers (6)

I know an agent that had 6 offers and sold a condo above asking price on the first day of the open house for 418,000. 2Br/2Ba in downtown San Jose.  [self promotion and contact information deleted by Zillow moderator]
  • February 26
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Monthly report or Annual report/Statistics/Charts for Bay Area/Santa Clara County

& San Jose....DQNews



  • February 25
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Profile picture for Julie Wyss
Condo sales have grow 32% in Santa Clara County and 34.5% in San Mateo County. For many, condos are more affordable as well as more available, especially now in this seller's market. Others find that condos give them a lifestyle that does NOT include maintaining yards, replacing roofs, etc. 
  • February 25
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Hi Kathleen.

Prices have recovered and are almost back to pre-financial crisis peaks. The median sales price for SJ Condo/THs was $420,000 in 2013 compared to $250,000 in 2009 and $485,000 at its peak in 2007. I expect them to continue rising slightly in 2014, probably by 3-4%.

The supply of New Listings is the story as they are at all-time lows.  Last year there were 3055 New Listings, which is 40% lower than the 2006 peak of 5091. The market is desperately seeking listings. A great market to be a Seller.

The average Days on Market is also very low. Last year it was 40 days compared to 2008-11 when it ranged from 84 to 93 days. You should be able to find a buyer relatively quickly.

Overall, it is a "Seller's market".  If you are thinking of selling in the next year or two, then sooner is better than later. Interest rates are expected to continue rising which will negatively impact your buyers.

I'm local, so happy to help you get the most for your Condo. Marketing is everything in maximizing the number of offers and ultimately the offer price.
  • February 22
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Profile picture for Sandykayhomes
Condos in San Jose made a huge jump in value last year as homes became rapidly unaffordable. The highest value increases were seen in the newer (less than 15 year old) ones in good school areas or close to major work areas like Sunnyvale and Santa Clara. I recently won a bidding on a condo like this in 95136 with 5 offers and my client was happy to pay 26K over appraisal. The key to getting the highest price for your sale is a careful market analysis to look at value and trend in the neighborhood and then a specific marketing plan to get the highest price for the property. Some areas have not gone up in value as others so trend and timing is everything.  I never double end my listings in this kind of situation because I find it could likely reduce the value that my seller would get.  I would caution any seller that works with an agent that will represent a buyer in this market for the sale of their home. Market prices are starting to slow down and statistics show that there were fewer sales in Santa Clara county in January than the prior 18 months but that may be due to very low inventory
  • February 22
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Morning, Here in Southern California (Orange County), they are... I'm sure a local agent can answer this for you. If not just contact a local agent direct. Best,
  • February 22
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