Santa Clara Market Snapshot
The number of homes that sold in the San Jose metro area during Q1 2019 was 17% below a year earlier. This downward trend continues the 7% decrease experienced in 2018.
As sales volume has slowed, the inventory of homes available for sale has grown. At the end of Q1 2019, 2,600 homes were for sale across San Jose, up a significant 61% from the 1700 homes for sale a year earlier, when inventory was near an historic low. While higher than 2018, today’s inventory is still low in comparison with historic standards.
The average price-to-list ratio is currently 100% in San Jose, well below a year earlier when homes were selling at an average 113% price-to-list ratio.

Interest rates have decreased in recent months, averaging 4.0% for a 30-year fixed rate mortgage (FRM) in March 2019. This average rate is below this time last year, a positive change for homebuyers, as FRM rates peaked in late-2018 and have since fallen back.

Thinking about buying or selling? Contact me for more specifics on buying or selling in your neighborhood!

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