If anyone needs proof that San Jose home prices have been bouncing along at the bottom of the real estate market for the past few years, one need only look at a multi-year sales history chart. The up and down see-saw of December average and median home prices since December of 2008 is readily apparent. Single-family homes and condo/townhouses show the same pattern.

Simple economics would dictate that prices should have been rising over the last quarter given an increasing level of buyer demand and a growing scarcity of properties for sale. Larger macro-economic circumstances are in play (national and global economic situations, the coming elections, etc.) and affecting our local markets – keeping buyers hungry, but cautious and sellers unwilling to sell.

Many experts are predicting a slight rise in home prices in 2012. That would be a welcome shot of energy into the market – if it is self-sustaining thru the entire year.

Sales data shown is based on a review of property sales data taken directly from the local multiple listing service for San Jose and Santa Clara County. It is deemed reliable, but not guaranteed.

Click here for a larger version of the chart.

Jeff
Good homes, good living!

http://www.SanJoseRealEstateSource.com
http://www.SanJoseShortSales.com

Jeff Spoelstra is a California residential real estate agent and REALTOR with years of experience making buying or selling property as easy and painless as possible. It’s my mission to provide the information you want and the help you need to get the home you’ll love.

Disclaimer: The above information is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. It is not intended to be construed as financial, legal or tax advice. California DRE license #01470808.