The San Jose housing market is very competitive. "We're seeing nearly half of all home buyers saying they've made an offer without seeing the home in person first," said. See more real estate market trends for San Jose. 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. The average sale price per square foot in San Francisco is $988, down 5.3% since last year. said Daryl Fairweather, a chief economist with Redfin. The average sale price per square foot in San Jose is $682, up 7.5% since last year. "And that allows people to be really fast." The average sales price was up 11.5% year-over-year. That’s the twelfth month in a row the median sales price has been higher than the year before. "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. Homes in San Francisco receive 3 offers on average and sell in around 28 days. 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. Zillow's latest data shows recession and the pandemic are combining to drive down prices. This week’s comparison is … "They don't need to because they're not going to go to the officer there.". The average sale price of a home in San Diego was $675K last month, up 7.8% since last year. It rose 18.1% compared to last year. The median sales price for single-family, re-sale homes set a new record high last month. Bay Area Housing Market 2020 Trends: Prices | Sales | Inventory. The San Diego housing market is very competitive. 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. Higher priced homes are selling at a faster rate than lower priced homes. "The rental market is under pressure from a few directions at once," Zillow economist Jeff Tucker said. San Jose Housing Market Information. Homes in San Jose receive 5 offers on average and sell in around 18 days. 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. *Graph taken from Zillow as of 06/2020 But don’t worry, it’s not all bad news. Not to mention that working from home means many do not have to move in the Bay Area in the first place. San Francisco Real Estate Market Reports - Compass, Santa Clara County Real Estate Market Reports - Compass, San Mateo County Real Estate Market Reports - Compass, Marin County Real Estate Market Reports - Compass, Oakland, Berkeley, Piedmont, Alameda: Real Estate Market Reports - Compass, Diablo Valley & Lamorinda Real Estate Market Reports - Compass, Sonoma County Real Estate Market Reports - Compass, Napa County Real Estate Market Reports - Compass, Tri-Valley, Pleasanton Region Real Estate Market Reports - Compass, San Francisco Neighborhood Home Prices - Compass, 30 Years of Bay Area Real Estate Cycles - Compass, Seasonality in the San Francisco Real Estate Market - Compass, San Francisco Bay Area Real Estate Market Reports - Compass. Last year, prices in the city hit a record $1,270,492, a 25-year gain of 344 percent. Two housing studies show different trends in Bay Area prices. It rose 18.1% compared to last year. 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. Higher priced homes are selling at a faster rate than lower priced homes. The average sales price was up 11.5% year-over-year. 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.