San Jose Housing Market Trends & Statistics 2020. Two housing studies show different trends in Bay Area prices. With a population of 1,030,119, 321,835 total housing units (homes and apartments), and a median house value of $892,123, San Jose house prices are not only among the most expensive in California, San Jose real estate also … "If you've started a job at a tech company in the last few months, a lot of them have not moved to the Bay Area," Tucker said. It rose 18.1% compared to last year. The average sale price per square foot in San Francisco is $988, down 5.3% since last year. That’s the twelfth month in a row the median sales price has been higher than the year before. Homes in San Jose receive 5 offers on average and sell in around 18 days. Not to mention that working from home means many do not have to move in the Bay Area in the first place. Homes in San Diego receive 5 offers on average and sell in around 14 days. The San Diego housing market is very competitive. Of course, the huge difference is in the median house sales prices: The city's is now over 5 times higher than the national median price. In the past year, the San Jose median home price went up 2.6%. "The rental market is under pressure from a few directions at once," Zillow economist Jeff Tucker said. See more real estate market trends for San Jose. Hayward Launches Online Business Directory to Support Small Businesses, Copyright © 2020 NBCUniversal Media, LLC. Homes in San Francisco receive 3 offers on average and sell in around 28 days. There are 1,692 homes for sale in San Jose with a median price of $998,976, which is an increase of 2.2% since last year. The average Berryessa house price was $1.06M last month, down 0.93% since last year. We shall now discuss some of the most recent San Jose real estate trends & news, and compare it with the past couple of years. The average sale price of a home in San Jose was $1.1M last month, up 16.5% since last year. That’s the twelfth month in a row the median sales price has been higher than the year before. The median sales price for single-family, re-sale homes set a new record high last month. The average sales price was up 11.5% year-over-year. This week’s comparison is … Comparing San Francisco vs. United States Home Price Appreciation Trends since 1987 Really quite similar except for the 1989 earthquake, the dotcom phenomenon, and the recent Bay Area high-tech boom. According to Neighborhoodscout.com, a real estate data provider, one and two-bedroom large apartment complexes are the most common housing units in the San Francisco real estate market. The average sale price per square foot in San Diego is $485, up 13.3% since last year. Two housing studies show different trends in Bay Area prices. According to Redfin, because of fewer homes on the market, but also because buyers are more comfortable than ever using technology to shop instead of being there in person. The average sale price of a home in San Francisco was $1.41M last month, down 3.8% since last year. Higher priced homes are selling at a faster rate than lower priced homes. San Francisco County: These days, San Francisco grabs national headlines for its sky-high housing prices, but in 1990, a single-family home ran just $285,920. *Graph taken from Zillow as of 06/2020 We shall mainly discuss median home prices, inventory, economy, growth, and neighborhoods, which will help you understand the way the local real estate market moves in this region. San Francisco is a fairly walkable city in San Francisco County having a mixture of owner-occupied and renter-occupied housing. The pandemic housing shift is on and is pulling the region's real estate market in different directions: home sale prices are going up and rents are coming down. Bay Area Housing Market 2020 Trends: Prices | Sales | Inventory. "They don't need to because they're not going to go to the officer there.". The average sale price per square foot in San Jose is $682, up 7.5% since last year. Zillow's latest data shows recession and the pandemic are combining to drive down prices. The Berryessa, San Jose, CA housing market is very competitive, scoring 86 out of 100. The home prices in San Jose are expected to fall by 0.7% within the next year. 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It turns out the drop in rents is more pronounced in urban downtown areas than in the suburbs because many no longer have to live close to the office, and another reason being many things people take advantage of living in downtown are at least partially closed. "And that allows people to be really fast." Median house sales price trends: ... Santa Clara County year-to-date condo sales and median condo sales prices by city or San Jose neighborhood: Median condo sales price trends by bedroom count: Demand in the condo market has been weaker than in the house market, a relatively common situation around the Bay Area. San Jose Housing Market Information. The San Francisco housing market is very competitive. The average sales price was up 11.5% year-over-year. The national report said last week’s year-over-year inventory comparison in the San Jose metro area with the corresponding week in 2019 was down 23.2%. said Daryl Fairweather, a chief economist with Redfin. The San Jose housing market is very competitive. Higher priced homes are selling at a faster rate than lower priced homes. But don’t worry, it’s not all bad news. The average sale price of a home in San Diego was $675K last month, up 7.8% since last year. The median sales price for single-family, re-sale homes set a new record high last month. San Jose Housing Market Forecast If San Jose house prices are leaving you with sticker shock, there’s good reason. It rose 18.1% compared to last year. "We're seeing nearly half of all home buyers saying they've made an offer without seeing the home in person first," said. Last year, prices in the city hit a record $1,270,492, a 25-year gain of 344 percent. All rights reserved.