Real Estate Information Blog & News

Though many markets in California are still showing sluggish signs of improvement in their residential real estate sectors, the San Jose real estate market, after falling during much of 2009 after the financial crisis, seems to show signs of marked improvement into the beginning of 2010.

Statistics from February 2010 as provided by the Santa Clara County Association of Realtors show that the median price of a home sold in San Jose during the month was $485,000, up slightly from January’s median price of $481,100 and an improvement of February 2009′s price of just $406,500. The average price was $553,393, up from around $519,000 in January and $463,792 from a year ago.

The average number San Jose homes for sale are spending on the market has remained consistent. In February 2010, it was 64, compared with 65 and 63 in January 2010 and February 2009, respectively. Condos in San Jose were up to a median price of $285,000 in February of this year, up from $270,000 the previous month and $239,900 a year earlier.

As for sales volume, there were 387 single-family homes sold in February, up from 356 in January and 388 a year earlier. Condo sales volume was at 123 sold, down from 155 in January but up from a year earlier’s 113. Though all these statistics show signs for optimism in the market, according to the San Jose Mercury News, in the first month of 2010, foreclosures were on the rise in Santa Clara County, in which San Jose is located, an indication that the market is not out of the woods yet.