Homes for sale in San Jose are selling fast. Multiple offers are the norm and sellers are being choosy, again. Homes for sale in San Jose are so hot that it could be called a market on fire. This past week there were over 50 offers for one home, 27 on another and 26 on another. The last example was a downtown fixer upper.
Great time to be a Seller!
Homes for sale in all of the surrounding areas of San Jose are seeing the same level of interest. Homes for sale in Los Gatos, Homes for sale in Cambrian and Homes for sale in Evergreen, to name a few, are experiencing the hottest market the County has seen in almost 5 years.
The why is easy to explain, there are very few nice homes for sale in San Jose, right now. Not to mention the unbelievably low interest rates. Mortgage rates under 4% were unimaginable a few years ago and yet, here they sit.
Last year, the number of homes listed for sale was 4300 for the month of April. This year, only 3997 were listed. This shows the inventory, for homes for sale in Santa Clara County, is down 10%. Supply is short and the demand is high. The recent poor economy caused me to forget how supply and demand has an effect on the free market?
We can now see the shift everyone was hoping for…or were we? When buyers want homes and there are a limited number of homes for sale to choose from, things get challenging. The tough questions like “What price should we offer?” or “What offer should we accept?” will cause you to thank your lucky stars you hired a seasoned pro to help you.
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The Fourniers-