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Purchasing a Homes in San Jose CA - Is Now time to Buy San Jose Property

There are lots of reasons for San Jose real estate that you'll need to know before you begin getting serious about the homes for sale there. By October 2010, there are specific price trends, demand trends, total inventory of homes, and market conditions that you need to become knowledgeable about. This should help you know where and when to purchase your first or next home in San Jose, California.

Prices on homes for San Jose real estate are searching very good right now. In November of this past year, prices were a little steep in a median of $540,000 as opposed to just under $500,000 now for an identical home. Remember that "median" is not the just like "average." In real estate, medians are generally used rather than averages just 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 demand for house skyrocketed in the popular spring buying time as the average length of time on the market plummeted from 150 days to around 80. Since then, the number of days that San Jose property stays on the market before being sold has leveled out at about 100.

The amount of "inventory" only denotes the quantity of San Jose property that's on the market. When the inventory is higher, there's a great supply for buyers to choose from, letting them possess a greater say in setting the cost.The amount of homes for sale in San Jose continues to be climbing steadily since mid January of this year. Then there have been 1,500 properties for sale and as of October 3, 2010, 2,858 homes were on the market.

The marketplace conditions have been heading steadily in one direction 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 sell it off is. Currently, listed homes can last for many months available on the market while maintaining a current sale rate. This is known as a "cold market" or perhaps a buyer's market. In markets like this, prices are certain to fall and buyers can negotiate lower prices. This means if you are thinking about purchasing San Jose real estate, now is the time to do this!