San Jose prices for 2005

The volatile line is each week's median price for all single family homes currently listed for sale in San Jose that week. The smooth line is the median price of
all those listed for sale in the previous 90 days. (a post about listings
vs. sales comps will be forthcoming.)

Note the late-summer dip. I expect you'll start seeing analysts and reports talk about weakening of prices. (Those that are looking at last month's data won't have the perspective we get here.) I'll link to them as they come in. The activity of the last few weeks, however, shows new strength. So the advice of the week is don't let a seasonal dip fool you into proclaiming the crest of the market.

There's lots more to investigate too: what's happening with inventory? (as of last night, there are 1686 homes listed in San Jose.) Is that a lot? What about demand conditions? Or a break-down into different segments of the market? All are subject matter for future posts. We're just getting started.