October 2017 South San Jose Market Snapshot

​We continue to see a very strong real estate market in South San Jose.    The October 2017 median sales price for single family residences in South San Jose was $845,000 an increase of $102,500 or 13.8% from the prior year to.   
 
Active listings were at 30 at the end of the month, down 75% from the prior year.  Inventory levels continue to be at record lows which are great for Sellers but Buyers are struggling with higher prices, multiple offers and lower inventories.    The average days on market was 9 days which is “mind boggling”.   72 new listings came to market in October 2017 which was a 20% decrease from the prior year.   
 
Home sale spotlight:  455 Curie Drive, San Jose, CA  95123 was listed at $898,000 and sold for $1,015,000 or $117,000 (13%) over asking.   It was on the market for 8 days and closed within 30 days.