January sales also reflect deal-making activity in December, when demand bottomed out during the typical mid-winter holiday slowdown, though Carlisle noted that this year's slowdown was extreme.
Avenue 8 CEO Justin Fichelson said South of Market and downtown sales are still slow and feature many price reductions, but he noted that few deals are to be had other parts of the city such as Pacific Heights or Noe Valley, especially for quality properties under $5 million. In Sacramento, the average home value went from a peak of $595,150 in June to $538,042 in January, according to Zillow data.. In January, the average value for a home in San Jose was nearly $1.4 million., and price growth has slowed from a record high of 18.8% recorded last April. Throughout the United States, home values fell slightly from December to January , but are still 6.2% higher than a year ago.