Where does the time go? November is here already and the days are shorter and colder. Though, today was great with the sun shining bright. I love this time of year with the Blossom Valley mountain sides all turning green. I imagine eBlossom Valley before all the South San Jose homes were built. With orchards from one hillside to the other. At this  time all the tree’s harvest is in and they began preparing for winter.

Today’s Blossom Valley is a different area with far fewer fruit trees and only the green hills left behind. The blossom valley real estate market has changed in many ways too. This week there are 42 blossom valley homes on the active list. Top 25% of homes in the area have been selling for a Median price of $630,000 and the lower 25% have been selling for a Median Price of $399,450.

Blossom Valley inventory has been tightening and the days-on-market has been decreasing recently. The Market Action Index has been climbing upward to a condition that would favor the seller all summer long but in the last few weeks has turned flat. This helps to keep the 95123 area a buyers market for the time being.

For a full market report on the San Jose 95123 area please send me an email or give me a call at 408.85o.7994

Today, many more first-time home buyers are calling the Blossom Valley area home after this last summer. Many were able to take advantage of the government incentives to get into a Blossom Valley condo as well. This has helped the area tremendously as we see that the areas prices are starting to level off.

Over the summer homes for sale in Blossom Valley area were experiencing multiple offers. Not something new to this area but certainly new for the last 2 years. A trend this does not make as the summer buying season is about to end and many potential buyers get a “wait and see” attitude towards a home purchase. Who really wants to move homes during Thanksgiving or Christmas? And, many family’s have enrolled their kids in their old schools with their old friends. 

At this time the area is experiencing just a flat line in home pricing even though this is typically the time that home prices would increase. We expect to not see an increase in values for a little while but it would be great if the area could keep the values through out the holidays.

This week prices in this zip code bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart each week by signing up to get the weekly report for the Blossom Valley Zip Code 95123. 

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If you decided to look into a crystal ball for predictions about the real estate market this next year you will probably see a “back in 12 months” sign. Predicting what is going to happen next is really hard to say. The best we can do is look to the last few years of stats for a better understanding of were we are at this point and some small idea of where we might be heading.

For example last year 95123 or Blossom Valley had shown to be a stronger market than other areas in losing only $100k in price from May of last year till today. It’s not too bad considering that all San  Jose lost more than $130k in the same time frame. The inventory has also started to level out and spring and summer have typically been buying times of the year. This should help to stabilize the Blossom Valley market for the next 4 to 6 months.

This chart shows the median sales prices of the highest and lowest priced homes in Blossom Valley. When the time comes to list your property be sure to look to these stats. If your listed in the high median sale price your home should be one of the best kept properties in the neighborhood along with having the highly desired extra square footage. If your home is well kept and you in the lower price range you can still expect to get multiple offers.