Facebook
X
Pinterest
Copy Link
Sellers are clearly paying attention to the intense buyer demand and adjusting their expectations accordingly. The median list price increased to $1.75 million in April, up from $1.70 million in March. This higher baseline is changing how buyers structure their offers.
Because sellers are listing their homes at higher initial prices, we are seeing a slight cooling in extreme overbidding. In March, buyers were pushing the envelope by paying an average of 105.8% of the asking price. In April, the sales-price-to-list-price ratio settled at a still-competitive 103.0%.While buyers are still routinely paying over asking, the higher list prices mean they aren’t having to offer quite as high of a percentage premium to win the deal.
- For Sellers: The market is highly favorable. With average sales prices hitting $2.35 million and homes selling in under 20 days, now is an excellent time to capitalize on high home values and motivated spring buyers.
- For Buyers: The landscape is shifting. While you might face slightly less pressure to wildly overbid the asking price, the overall cost of entry is higher. You must come to the table pre-approved and ready to act immediately, as homes are flying off the shelves in just 19 days.
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, San Jose, CA
DRE 01777533
