San Jose End Of Month Real Estate Market Update February 2023

We take a look at how the San Jose Real Estate Market performed at the end of the month in February, 2023.

As of the end of February 2023, in San Jose there were 325 Single Family Homes still available for sale. Of the 325, 341 came on to the market since February 01. The average days on market of the homes for sale at the moment is 30 days. The median list price is $1,499,000.

Status Changes

73 Single Family Homes were in contingent status. Contingent status means an offer has been accepted and is contingent on fulfilling certain criteria within the purchase agreement. The listing is still on market. This status is generally used to indicate that the seller is looking for additional back-up offers, or that the property is subject to financing, court or other third party approval.

251 Single Family Homes were in pending status. Pending status is when an offer has been accepted and is expected to close. The seller is not accepting additional offers and the property is not on market.

185 homes have currently sold.

Price Changes

14 Homes have increased their list price. In comparison 54 homes decreased their list price.

Unsold Home Status Changes

10 Transactions fell through, meaning an offer was accepted but ultimately the buyer & seller cancelled the sale.

14 homes in cancelled status. Cancelled status simply means the listing contract has been terminated in writing by broker and seller. The listing is not on market.

16 homes in withdrawn status. Withdrawn status is when a valid listing contract is in effect, but the listing is not being marketed. This status can be used to indicate that the seller requested withholding property showings and offers temporarily. This listing is in the MLS, but not actively on market.

Hopefully this information gives you a good insight into how the real estate market is performing should you decide to buy, sell or just want to stay on top of the market.