subject: San Jose Homes Market Comparison Report (february 2009 Vs. February 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of San Jose Homes Market comparing February 2009 to February 2010.
Summary of Key Points
San Jose Homes has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster. Sellers got what they were asking for. In all the market showed tremendous upward movement.
Key Statistics, San Jose, CA: Median Sales Price (32.43%), Median Days on Market (-43.38%), and Number of Units Sold (-28.93%), Sales Price to List Price Ratio (Feb 09 98% - Feb 10 100%)
San Jose Homes
The city of San Jose experienced a 32.43% increase in median sales price from last year going up from $400,742 (Feb. 09) to $530,684 (Feb. 2010). Median days on market data for San Jose shows that houses are selling faster than Feb 09. It took 104 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 59 days (a 43.38% improvement). Another important factor to consider is total number of units sold. In the month of Feb 09, 643 units were sold compared to 457 for Feb 10 (-28.93% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for San Jose. SP/LP ratio for Feb 09 was 98% compared to 100% for Feb 10.
Lets take a brief look at neighbors Los Gatos and Morgan Hill. Los Gatos Real Estate featured a 1.87% increase in median sales price ($1,094,772 Feb 09 - $1,115,223 Feb 10) and Morgan Hill Real Estate saw a 1.88% decrease ($565,854 Feb 09 - $555,232 Feb 10). Are houses in Los Gatos and Morgan Hill selling faster or slower this year? Well, Los Gatos experienced an 11.23% decrease (112 to 99 days) in median days on market and Morgan Hill saw a 53.25% decrease (162 to 76 days). In the units sold category, Los Gatos sold 2 units more (11.11%) in Feb 2010 than 09 and Morgan Hill sold 3 units more (10.71%) in Feb 2010 than Feb 09.
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