San Jose Real Estate Market Update – August 2022 Part 2
Is there ever a “perfect” time to buy or sell a home?
Probably not. Real estate markets are always changing, and every market creates different opportunities for buyers and sellers. The key is understanding what’s happening locally and deciding whether the current conditions line up with your goals, finances, and timeline.
In this August 2022 market update, I break down what buyers and sellers were experiencing across the San Jose and Silicon Valley real estate market at the time—and why changing conditions didn’t necessarily mean people needed to put their plans on hold.
What Was Happening in the San Jose Housing Market?
After the extremely competitive housing conditions buyers experienced during the previous market cycle, the San Jose real estate market was beginning to change.
That shift created a different environment for both sides of a transaction.
For buyers, changing conditions could mean opportunities that weren't as easy to find during periods of intense competition.
For sellers, it meant that pricing, preparation and marketing were becoming increasingly important.
The important takeaway was simple: a changing market doesn't automatically mean a bad market.
It means your strategy needs to change with it.
What the Changing Market Meant for Buyers
For San Jose homebuyers, a shift away from an extremely competitive seller's market could create some welcome breathing room.
Instead of focusing only on whether the market was “up” or “down,” buyers needed to consider the bigger picture:
- What could they comfortably afford?
- How long did they expect to own the home?
- What neighborhoods and property types worked for their lifestyle?
- How much competition were they facing for the specific homes they wanted?
- Did buying make sense for their personal financial goals?
Those questions are ultimately more useful than trying to perfectly time the housing market.
What the Market Meant for San Jose Sellers
Sellers also needed to adjust.
When buyers have more choices, simply putting a home on the market isn't enough. Pricing, condition, presentation and marketing all become increasingly important.
A home that is positioned correctly can still attract serious buyers in a changing market. But sellers need to understand the competition and set expectations based on current local conditions, rather than assuming the strategies that worked several months earlier will continue producing the same results.
Watch the August 2022 San Jose Market Update
In the video embedded below, I discuss the opportunities I was seeing for buyers and sellers during the August 2022 market and why I believed there could be a bright spot in every real estate market.
The question isn't simply whether it's a “good” or “bad” market.
The better question is:
Does this market create the right opportunity for you?
Is It the Right Time for You to Buy or Sell?
There's no single answer that applies to everyone.
For buyers, the decision should come down to factors such as affordability, financing, available inventory and how long you expect to own the property.
For sellers, your home's condition, location, competition and your plans after the sale all matter.
That's why I prefer to start with the numbers and your goals rather than trying to convince someone that it's always the “perfect” time to make a move.
If you're wondering what the San Jose real estate market looks like today, let's look at the current numbers for your neighborhood and talk through your options.
GET YOUR FREE HOME SELLING BOOK
About the Author - Michelle Elliott
With over 20 years of experience navigating the fast-paced Silicon Valley market, I provide a strategic, results-driven approach to residential real estate. My career is built on a foundation of deep local expertise and a relentless commitment to my clients' success, resulting in over $235 million in lifetime sales volume and a consistent ranking in the top 3% of agents in Santa Clara County and top 2% at Coldwell Banker. My expertise has been featured on KTVU Fox 2, Real Producers and the Willow Glen Resident. She is also the co-host of the San Jose Podcast "Say What You Want About Real Estate"
A Hyper-Local Expert with Global Reach
I specialize in San Jose, in the neighborhoods of Willow Glen (95125 & 95124) Cambrian Park and Almaden, Downtown San Jose/Japantown (95112) markets. As a certified Luxury Property Specialist with Coldwell Banker Realty, I combine high-end marketing strategies with granular neighborhood knowledge to help my clients achieve premium results.
The "Tiger" at the Negotiating Table
My clients have characterized me as a "tiger" at the negotiating table who remains "sweet and patient" with my clients throughout the process. I pride myself on being a fierce advocate for my buyers and sellers, ensuring the best possible terms in every transaction, and I strive to be the best Realtor in 95125! This balance, drive, and tenacity have earned me consistent 5-star ratings across Google, Zillow, Realtor.com, and Yelp.
Michelle Elliott
Michelle@michelleelliottrealtor.com
1712 Meridian Ave, Ste C, San Jose, CA
DRE 01777533
Michelle elliott | CalRE #01777533
Terms Of Use | Privacy Policy | Accessibility Statement | Fair Housing Notice
Coldwell Banker Realty
