Jeff Hansen & Arvin Paredes

408-657-9837

Downtown San Jose Condo & Townhouse Living

Market Statistics

A Glance At Our Market

Take a Glance

Take a Glance

There are many ways to analyze our market by comparing a number of market statistics. One can track the sales price by taking a look at the price range over time, or figure out the months of inventory by the year, or compare the number of new listings to the number of closed sales. Whenever taking a look at market statistics, the more comparisons that are made will give a clearer picture of how our current market compares to years past and even months past.

Given the fact that many buyers out there realize that we are in a seller’s market, that is, there are a lot more buyers than available homes on the market, the market statistics I’d like to use are the sale price to list price ratio as one measure and the homes’ average days on market as the other measure. When I meet new potential buyer clients, I enjoy asking what their perception is of the market. The majority say that they are hearing about multiple offers on properties, which causes a couple things to happen. Let’s take a look at the graph below that reflects the above described market statistics for condos/townhomes in Central San Jose.

Snap 2012-07-10 at 09.49.14

Market Statistics - Central San Jose Condos/Townhomes

One idea to keep in mind here is that the market statistic days to sell,  is an average in this graph. Because short sales take quite a while to sell, it plays a large part in the overall average. The sale price to list price ratio is at about 103% while the average days to sell is 80 days. In our current and local market place, if homes are priced well, the sellers will most likely be looking at more than one offer and the sale price will be above the list price.

What’s your perception of the market? Leave a comment down below with what you’ve been seeing or experiencing. If you’d like more info regarding what would make your offer more appealing to the seller, or discuss further in depth about what effects multiple offers have on a transaction, feel free to contact me. Much appreciated!

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