San Jose Mid Month Real Estate Market Update Mar 2023

We take a look at how the San Jose Real Estate Market is performing mid month in March, 2023.

Currently in San Jose there are 343 Single Family Homes for sale. Of the 343 homes for sale, 284 came on to the market for the first time since March 01. The average days on market of the homes for sale at the moment is 46 days. The median list price is $1,584,000. Next we’ll take a look at status changes.

San Jose Mid Month Real Estate Market Status Changes

39 Single Family Homes are 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.

263 Single Family Homes are 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.

155 homes have currently sold. In the following section we’ll get a sense of how demand is affecting price adjustments.

Price Changes

3 Homes have increased their list price. In comparison 39 homes decreased their list price.

San Jose Mid Month Real Estate Market Unsold Home Status Changes

9 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.

13 homes in withdrawn status. Withdrawn status is when a valid listing contract is in effect, but the listing is not being marketed.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.