Welcome to The Rossetti Realty Market Update.
If you’re considering buying or selling residential real estate, it’s essential to understand the current market trends.
According to MLS Listings, the marketplace for San Jose residential properties, here’s what happened on the 3rd Quarter in 2022 versus the 3rd Quarter in 2023:
The Number of SOLD listings decreased by 15% to 1418 properties, with a top sale of $5,800,000 million at 5651 La Seyne Place.
The Average Sales Price increased by 10% to $1,449,681 million, moving the Average Price Per Square Foot up to $888 per square foot.
As measured in quarterly supply, the inventory of properties available for sale decreased by 13% to 1.30 quarterly worth of properties for sale.
The average 30-year fixed mortgage rate increased to 7.55%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.