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Whitelaw and Sons Real Estate Morgan Hill
Whitelaw and Sons Real Estate Morgan Hill

San Jose Real Estate Market Report – September 2022

by Oct 30, 2022Market Analysis, San Jose Market Reports0 comments

San Jose Real Estate Sept 2022

Written by Robert Whitelaw, Realtor®/Broker/Owner

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate from Palo Alto to Gilroy and Los Gatos - and beyond! Robert rates his success on providing the highest level of value to his clients.

October 30, 2022

The San Jose real estate market is seeing lots of price reductions – but that might be the tip of the iceberg.

Sales Price.

After last months DROP is sales price for San Jose real estate, this month we logged an increase of 3.6%. This while Santa Clara county continues to see year over year drops. In September, Santa Clara County saw average prices drop by 2.1%

Inventory Grows.

The San Jose real estate market had a 20% increase in inventory when compared to the same time last year in September. That is twice as much inventory growth as the county saw overall.

What About Other Areas.

Santa Clara County.

The county overall actually saw a decrease of 2.1% in the average sales price when compared to last year! For more, check out this months “Coffee & Real Estate Live Chat” where we compared San Jose to the county and other communities.

View The October Coffee & Real Estate

Gilroy

Gilroy had the highest inventory growth but also saw the greatest increase in average sales price. This is interesting when considering how nearly half of all Gilroy homes on the market saw a price reduction in August.

Morgan Hill.

Morgan Hill saw inventory grow by 35.7% but also had less of a decline in new listings than San Jose. However, Morgan Hill also saw an average price increase of 12.4%.

 

Check Out The Last Show!

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Santa Clara County Real Estate Market – December 2022

Santa Clara County Real Estate Market – December 2022

The Santa Clara County real estate market continues to see dropping sales prices. The real estate market in Santa Clara County has undergone a significant transformation in recent months, as higher interest rates continue to put pressure on the market. Inventory One of the most notable changes has been the increase in inventory, with a 82% increase compared to the same period last year. This increase in available properties is a welcome development for buyers, who may have more options to choose from when searching for their dream home. New Listings However, while inventory has increased,...

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