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Buying a Homes in San Jose CA - Has become the Time to Buy San Jose Property

There are many things about San Jose real estate that you will want to know before you begin getting seriously interested in the homes for sale there. By October 2010, there are particular price trends, demand trends, total inventory of homes, and market problems that you should become knowledgeable about. This will help you know where and when to purchase your first or next home in San Jose, California.

Prices on homes for San Jose property are searching very good at this time. In November of this past year, prices were a little steep in a median of $540,000 instead of just under $500,000 let's focus on an identical home. Remember that "median" is not the same as "average." In tangible estate, medians are generally used rather than averages because a few high-end homes can skew the numbers significantly. By calculating the median, or midpoint, a 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 this year. In May, the interest in house skyrocketed within the popular spring buying time because the average number of days available on the market plummeted from 150 days to about 80. Since that time, the number of days that San Jose property stays available on the market before being sold has leveled out at about 100.

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

The market conditions have been heading steadily in one direction since January of the year. If you take median price, inventory levels and days on the market into account, it is possible to calculate what type of sell it off is. Currently, listed homes can last for several months on the market while keeping a current sale rate. This is called a "cold market" or a buyer's market. In markets such as this, prices are certain to fall and buyers can negotiate affordable prices. What this means is if you are interested in purchasing San Jose real estate, this is the time to do this!