Angela Pan, Renter in San Jose, CA

Current market value of condominium verse a year ago. What is the percentage increased of the sale price?

Asked by Angela Pan, San Jose, CA Fri Jun 28, 2013

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Answers

7
Prices are significantly higher this year as compared to last year, but it only matters if you actually take advantage of the high point when it's available.
1 vote Thank Flag Link Thu Aug 29, 2013
As stated below, conditions vary tremendously between square footages, location, property condition and configuration, HOA fees, amenities and so much more. However, overall San Jose percentages for condos/townhouses (Santa Clara MLS does not allow a differentiation between a townhouse or condo) are as follows:

Average price, May 2012 - $318,000
Average price, May 2013 - $455,000
% increase: 43.1%

Zip Code - % increase
95110 – 47.7%
95111 – 55.9%
95112 – 51.9%
95113 – 252.3%
95116 – 76.1%
95117 – 40.6%
95118 – 46.9%
95119 – 63.7%
95120 – 12.4%
95121 – 39.5%
95122 – 24.1%
95123 – 57.5%
95124 – 27.2%
95125 – 42.6%
95126 – 26.1%
95127 – 22%
95128 – 21.1%
95129 – 6.8%
95130 – 52.8%
95131 – 88.6%
95132 – 46.2%
95133 – 77%
95134 – 13.2%
95135 – 24.7%
95136 – 76%
95138 – 48.1%
95139 – 41.6%
95148 – 40%

Note: past increases in any specific area are no guarantee or indication of future appreciation.
.
1 vote Thank Flag Link Sun Jun 30, 2013
See the bottom half of http://julianalee.com/san-jose/san-jose-statistics.htm to see San Jose condominium statistics. For San Jose as a whole you can get a pretty good view of condo statistics, when you look at either zip codes or neighborhoods, trends may not be very smooth.

The price per sq ft has climbed fairly steadily from about $250 per sf at the beginning of 2012 to about $360 per sf through May 2013 for San Jose. (Updated statistics later this week)

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650-857-1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties
.
Web Reference: http://julianalee.com
0 votes Thank Flag Link Mon Jul 1, 2013
Condominiums have seen appreciation just like homes have seen appreciation. It is more accurate to compare a similar condo, in size, age, location, then an generic answer.

As in all statistics there are several factors which affect the results.
0 votes Thank Flag Link Fri Jun 28, 2013
The appreciation in condos is about 20% since a year ago as an average. However, the number of condos sold in the last year is very small, so appreciation is somewhat dependent on demand for that type of unit. For example, anything down town will generate a huge amount of interest as will a 3 bedroom in Midtown or Barron Park.

Marcy Moyer
Keller Williams Palo Alto
marcy@marcymoyer.com
DRE 01191194
650-619-9285
Web Reference: http://www.marcymoyer.com
0 votes Thank Flag Link Fri Jun 28, 2013
It depends on the location, size, condition of the unit and many other factors. Overall the "Median Sales Price in May was $910,000, up 21.3% from $750,000 in May of 2012 and down -8.1% from $990,000 last month".
Web Reference: http://talisrealestate.com
0 votes Thank Flag Link Fri Jun 28, 2013
Hi Angela,
It could very well have increased in value by 15 to 22% over the last 12 months. Generally, the market as a whole has increased by this much.

It's hard to be more exact, as there are so many factors that affect the sales price of a house, such as;
- Is the property vacant, or can people get to see it easily? (By appointment sales are sometimes difficult, and tend to get a lower price).
- Is the property staged and polished ready to 'wow' the buyers?
- Are there any issues in the HOA complex which might affect desirability
- The choice of agent and their marketing plan can make a huge difference

So much depends on these and other factors that any percentage increase really can only be a very rough guide. If you're thinking of selling your home, you really should have a professional come and take a look and give you a better estimate.
Good luck!
Aileen
0 votes Thank Flag Link Fri Jun 28, 2013
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