"Active listings in San Jose reached 944 in April, marking a 17.6% increase year over year, significantly outpacing the national gain of 4.6%. This shift indicates a market that has long favored sellers is now providing buyers with more options and less pressure."
"The median list price in San Jose fell to $1,198,000, reflecting a 7.2% drop year over year, which is five times deeper than the national average decline of 1.4%. This correction signals a need for sellers to reconsider their pricing strategies."
"With homes taking longer to sell, the days of quick contracts are over. The increase in inventory and the slower pace of deals suggest that buyers now have more negotiating power, while sellers must be cautious about overpricing their properties."
In April, San Jose's real estate market experienced significant changes, with inventory increasing by 17.6% year over year, providing buyers with more options. The median list price dropped to $1,198,000, a 7.2% decline compared to the previous year. Homes are taking longer to sell, indicating a slower market pace. Sellers must adjust their pricing strategies, as overpricing poses risks, while buyers can benefit from a more favorable negotiating environment and a wider selection of homes.
Read at SFGATE
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