Here’s an update on San Jose, CA short sale listings as of October 22, 2010. Short sales continue to be a significant portion of the San Jose market with 877 units listed as short sales – 35% of total listings. The median price of listed short sales is $329,000. Short sale real estate in San Jose is rising with an increase of 136 short sale homes on the market since July.
Two and three bedroom homes have the highest share of San Jose short sale inventory with median list prices of $245,000 for two bedroom homes and $350,000 for three bedroom short sales. Nearly 50% of the real estate market in San Jose is short sales or bank owned properties, indicating that properties on the way to foreclosure will continue to be an influential part of the local market through 2010 and beyond.