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Buying a Homes in San Jose CA - Is Now the Time to Buy San Jose Real Estate

There are many reasons for San Jose real estate that you'll want to know before beginning getting seriously interested in the properties for sale there. By October 2010, there are particular price trends, demand trends, total inventory of homes, and market conditions that you need to educate yourself about. This will help you know when and where to purchase your first or next home in San Jose, California.

Prices on homes for San Jose real estate are searching very good at this time. In November of this past year, prices were a bit steep in a median of $540,000 as opposed to just under $500,000 now for an identical home. Keep in mind that "median" isn't the just like "average." In real estate, medians are usually used rather than averages because a few high-end homes can skew the numbers significantly. By calculating the median, or midpoint, a far more accurate representation of local housing prices is given.

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The interest in homes raised and lowered a bit from January to May of the year. In May, the demand for house skyrocketed within the popular spring buying time because the average length of time available on the market plummeted from 150 days to about 80. Since then, the amount of days that San Jose real estate stays on the market before being sold has leveled out at about 100.

The amount of "inventory" simply means the amount of San Jose real estate that's on the market. Once the inventory is higher, there's a great supply for buyers to select from, letting them have a greater say in setting the cost.The number of properties for sale in San Jose has been climbing steadily since mid January of the year. Then there have been 1,500 homes for sale so that as of October 3, 2010, 2,858 homes were on the market.

The market conditions happen to be heading steadily one way since January of this year. If you take median price, inventory levels and days available on the market into consideration, it is possible to calculate what kind of market it is. Currently, listed homes can last for several months available on the market while keeping a current sale rate. This is called a "cold market" or perhaps a buyer's market. In markets such as this, prices are certain to fall and buyers can negotiate lower prices. What this means is if you're interested in investing in San Jose property, this is the time to do so!