San Jose Predicted To Be Hottest Real Estate Market In U.S. In 2019

By Mike Colgan, KCBS Radio

January 23, 2019
San Jose (Photo credit: Dreamstime)

SAN JOSE (KCBS RADIO) — San Jose is expected to remain the country's hottest real-estate market this year, according to Zillow, which ranked the South Bay city as number one in 2018 too. 

That's no surprise to brokers in San Jose, who say their listings are selling, although not as quickly as before. 

"The Bay Area is magnificent," said Samantha Emerson, a Coldwell Banker broker, during an open house for an $899,000 2-bedroom, 2-bathroom condo near the Japantown neighborhood. "Two hours one way you've got skiing, two hours the other way you've got wine." 

The price shows that the market remains hot, but properties are lingering a little more before a sale is finalized, Emerson said. 

It's more common to see a deal being in escrow for 30 days whereas there were more all-cash offers being concluded in a matter of days, Emerson said. 

Zillow cited San Jose as having the lowest unemployment rate and most jobs per person, among the 50 largest metro areas. The forecast also calls for homes to appreciate in value. 

Look out, San Jose house hunters. The city’s real-estate market is the country’s hottest for the second year in a row, according to Zillow. This 2-bedroom condo market near the Japantown neighborhood is listed at $899,000, but one broker tells KCBS Radio that there are signs that houses aren’t selling as quickly. Go to KCBSRadio.com to read more.

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