"In November, home prices fell substantially from the month before, with a median listing price of $1,125,000. The number of listings on the market shrank 16.7% from last month, which is a bigger decrease than normal for this time of the year in San Jose, and homes are also selling slower than at the same time last year. Home prices in San Jose Typically, home price per square foot in San Jose tend to fall in November."
"And the most recent data shows that the price per square foot decreased by 3.1% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Capital of Silicon Valley are larger the national market. San Jose inventory In November, there were 653 homes for sale in San Jose, which was 16.7% less than the month before and 15.0% more than the same time last year."
Median listing price in San Jose was $1,125,000 in November, representing a substantial month-over-month decline. Price per square foot in San Jose decreased 3.1% from the prior month, a larger drop than the national per-square-foot decline of 1.2%. Active listings in San Jose numbered 653 in November, down 16.7% from October but up 15.0% year-over-year. Nationwide active inventory fell 2.5% to 1,072,266. Homes in San Jose averaged 40 days on market in November, four days longer than the previous month and the same month last year, compared with a national average of 64 days.
Read at SFGATE
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