Willow Glen Real Estate Market Update October 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE MEDIAN PRICE OCTOBER 2017

Willow Glen Real Estate Market Update October 2017

In the Willow Glen real estate market, conditions continue to favor sellers, even as more houses become available compared to this time last year.

The 68 new listings in September 2017 represents a decrease over September 2016 with 59 listings.

WILLOW GLEN REAL ESTATE MARKET UPDATE NEW LISTINGS OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE NEW LISTINGS OCTOBER 2017

Evergreen Real Estate Market Update Units Sold

The Multiple Listing Service reports that in September a total of 60

single family homes were sold in the Willow Glen area. This indicates a 30.43% percent increase over sales in September in 2016 with 46 home sales.

WILLOW GLEN REAL ESTATE MARKET UPDATE UNITS SOLD OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE UNITS SOLD OCTOBER 2017

Willow Glen Real Estate Market Update Months Of Inventory

If we look at the absorption rate which shows how fast all the homes currently on the market would sell if no other homes came up for sale, it shows that there is only 0.6 months of supply which is indicative of a very hot real estate market.

WILLOW GLEN REAL ESTATE MARKET UPDATE MONTHS OF INVENTORY OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE MONTHS OF INVENTORY OCTOBER 2017

Willow Glen Real Estate Market Update Median Price

Prices in the Willow Glen real estate market continued to climb during that year-long period. The median price of a single-family home in the Willow Glen area increased 11.75% percent between $1,117,694 in September 2016 to $1,249,000 in September 2017.

WILLOW GLEN REAL ESTATE MARKET UPDATE MEDIAN PRICE OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE MEDIAN PRICE OCTOBER 2017

Willow Glen Real Estate Market Update Dollar Volume Of Sales

The dollar volume of sales year over year increased 48.39 percent.

In total, $81,494,211 worth of homes were sold in September 2017.

WILLOW GLEN REAL ESTATE MARKET UPDATE VALUE OF SOLDS OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE VALUE OF SOLDS OCTOBER 2017

Evergreen Real Estate Market Update Sales Trend

If we look at the trend, you’ll see that in September 2016 “Starter” home sales were well above “Move Up” & “Luxury” home sales, which caused the median price to go up. In September 2017 “Starter” home sales are well above “Move Up” home sales causing an increase in the median price, sales price to list price ratio & dollar volume of sales.

WILLOW GLEN REAL ESTATE MARKET UPDATE SALES TREND OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE SALES TREND OCTOBER 2017

Evergreen Real Estate Market Update Days On Market

Homes spend an average of 23 days on the market in Willow Glen, which is a decrease from the same as in September 2016 with 34.3 days.

WILLOW GLEN REAL ESTATE MARKET UPDATE Average Days on Market OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE Average Days on Market OCTOBER 2017

Evergreen Real Estate Market Update Percentage Of Overbidding

83.33% percent of homes that sold, sold for their asking price or above. This reflects a 47.44 percent increase over the same time last year.

WILLOW GLEN REAL ESTATE MARKET UPDATE Homes that sold at 100% or more of last asking price OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE Homes that sold at 100% or more of last asking price OCTOBER 2017

Willow Glen Real Estate Market Update Sold Price To List Price Ratio

Generally high prices, limited availability, and quick sales of those homes that come up for sale make the Willow Glen real estate market a favorable environment for Sellers.

With the average sales price to list price ratio of 104.68 percent, assuming the home is priced right, sellers can expect to sell their home for at least 4.68% above the list price.

At the same time buyers can expect to pay at least 4.68% more than a home’s list price.

WILLOW GLEN REAL ESTATE MARKET UPDATE Average Sold to Asked Ratio OCTOBER 2017

WILLOW GLEN REAL ESTATE MARKET UPDATE Average Sold to Asked Ratio OCTOBER 2017

Coldwell Banker The Professional Group provides expert real estate services to residential buyers and sellers in San Jose and surrounding communities.

To get a free home value evaluation or to discuss the sale of your home call us at (408) 482-5064, there’s no obligation to list your home when you call.

For additional information about the overall real estate market such as interest rates, consumer confidence etc. click on the link below.

Real Estate With Pedro Romero

Glossary of Terms

Average Days On Market (DOM): The average marketing time it has taken properties to sell.

Median Price: Sale Price that is midway between the least expensive and most expensive properties. Half of the properties sold for more than the median price and half the properties sold for less than the median price.

Months Of Inventory: The amount of time it would take to sell all current listings at the current sales pace if no new listings became available. Number of active OR pending(ie: on market) listings for the month / Number of closed sales for the month.

Sales Price to List Price Ratio: The percentage of the list price that buyers ultimately paid for the property.