SAN JOSE (KRON) — According to a new survey from the online real estate service known as Zillow, the median sale price in San Jose has now has pushed up to a jaw-dropping $1.2 million.

Zillow says the market here has cooled some but it’s still one of the hottest markets in the country.

KRON4 asked local realtor Rick Smith for his opinion.

While some sellers have cut prices a bit and some properties are taking longer to sell, many buyers have been pushed out.

For example, a family with an annual income of about $100,000 a year would need to put roughly $600,000 down to keep mortgage payments at 30-percent of their monthly earnings.

There is something called an affordability, says Smith. Smith says inventory is on the rise.

What do you find in that median-price range?

A home on Clintonia Avenue in Willow Glen is on the market for $1,098,000.

Another home on Juliet Avenue is listed at $1.199 million and another one on Camden Oaks Court is at $1.25 million. But you can find something for less that that.

Smith gave me KRON4 a tour of a 3-bedroom, one-bath 1,200 square foot home on Hillsdale Avenue that just sold for $795,000.

This home more in line with the median-priced home across the 9-county Bay region which remains about $750,000.

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