San Jose, CA
Housing Market
San Jose's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into San Jose's supply and demand trends. Our report equips you with the information you require to make well-informed decisions.
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Buy or SellSan Jose Housing Market Overview
San Jose's housing market is intensely competitive at the moment. The median home price has risen 12% over the past year to reach $1,444,000. Despite this, homes fly off the market within a median of 11 days. This indicates high buyer demand and growing competition.However, the number of homes sold has fallen 5.8% YoY.
The real estate market in San Jose offers a variety of homes, from modern condos to quiet suburban neighborhoods. Home values have gone up over time, thanks to San Jose's strong job market, good schools, and its location in the heart of Silicon Valley. The city's mix of tech opportunities, parks, and family-friendly communities makes it a popular choice for buyers as well as investors.
The real estate market in San Jose offers a variety of homes, from modern condos to quiet suburban neighborhoods. Home values have gone up over time, thanks to San Jose's strong job market, good schools, and its location in the heart of Silicon Valley. The city's mix of tech opportunities, parks, and family-friendly communities makes it a popular choice for buyers as well as investors.
Median Sale Price
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San Jose Housing Supply
San Jose attracts strong buyer interest due to its high quality of life and position in Silicon Valley. The number of homes for sale in San Jose has risen to 556, marking a 39.7% increase from last year. With 605 new listings, buyers have more options. The city's fast-paced market, new developments, and steady job growth keep supply low and competition high.
San Jose features a wide range of properties: tech-friendly condos, suburban homes, and established neighborhoods near top schools and major employers. Areas like Willow Glen, Almaden Valley, and Evergreen offer some of the region's most desirable homes. While inventory tends to grow in the spring, consistent demand and limited supply help push home prices higher.
San Jose features a wide range of properties: tech-friendly condos, suburban homes, and established neighborhoods near top schools and major employers. Areas like Willow Glen, Almaden Valley, and Evergreen offer some of the region's most desirable homes. While inventory tends to grow in the spring, consistent demand and limited supply help push home prices higher.
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San Jose Housing Demand
San Jose's housing market stays highly competitive, with 69.6% of homes selling above the list price. Only 18.2% of houses in San Jose sell below asking, up 4.1 percentage points from last year. The average sale-to-list price ratio has reached 106.8%, which means that sellers typically get more than their asking price, and buyers have little room to negotiate. These trends clearly favor sellers.
Home sellers who price their homes correctly from the start can avoid price cuts and attract strong offers quickly. Moreover, listing on the California MLS and offering concessions can help speed up the sale. With demand high and the sale-to-list ratio well above 100%, sellers can expect multiple offers. Buyers seeking more negotiation power should target homes that have been on the market longer, or have recently seen price reductions.
Home sellers who price their homes correctly from the start can avoid price cuts and attract strong offers quickly. Moreover, listing on the California MLS and offering concessions can help speed up the sale. With demand high and the sale-to-list ratio well above 100%, sellers can expect multiple offers. Buyers seeking more negotiation power should target homes that have been on the market longer, or have recently seen price reductions.
Homes Sold Above List Price
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Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
San Jose Housing Market: When to Buy or Sell?
San Jose's housing market typically cycles between buyer-friendly and seller-friendly conditions. Like many parts of the California real estate market, it stays competitive due to strong demand and limited housing supply. When more homes become available and competition eases, buyers gain leverage to negotiate. Sellers, on the other hand, benefit when demand outpaces supply, especially during the busy spring and summer seasons.
If the housing supply in San Jose begins to align with the balanced conditions of the broader US housing market, buyers may see more favorable terms. Until then, low inventory continues to support quick sales and competitive offers. Knowing how the market moves helps both buyers and sellers make smarter decisions in the fast-paced San Jose real estate market.
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Frequently Asked Questions
How have house prices in San Jose, CA, changed over the past year?
The San Jose median home price has risen by12% YoY. Many areas across the city have seen steady price appreciation, fueled by high buyer demand and low inventory. You can check your home's fair market value with our free home value estimator to set the right asking price.
What is the San Jose housing market forecast for 2025?
San Jose housing prices are expected to stay strong as demand continues to outpace supply. Although higher mortgage rates could slow some buyers, San Jose's location in Silicon Valley, strong job market, and limited inventory are likely to keep prices elevated through 2025.
What's the average house price in San Jose?
The price of a house in San Jose depends on the type, size, and neighborhood. Condos cost around $785,000, while single-family homes average $1,755,000. If you're looking to buy in the area, you can explore houses for sale in San Jose, CA, to find the perfect property.
Is San Jose expensive to live in?
Yes, San Jose is considered an expensive place to live. The cost of living is well above the national average, and also higher than the California average. Housing is the largest expense, due to strong demand and limited supply in the heart of Silicon Valley.
Where can I check San Jose housing market trends?
The city's housing market stays active year-round, with strong demand and ongoing competition. Homes in San Jose, CA, often sell faster than the national average, especially in high-demand neighborhoods.Research the city's market trends to help you decide when to make your move.
When will the San Jose housing market crash?
According to San Jose housing market forecasts, a crash is unlikely. While prices and demand may fluctuate, especially during peak seasons like summer, experts project steady growth through 2025, driven by limited supply and strong demand in the region.
How to buy a home in San Jose?
The steps to purchasing a house must start with a clear budget and mortgage pre-approval. Buyers can then search for San Jose homes for sale, submit offers, secure loans, and complete the closing process.
How can I list my house for sale in San Jose?
You can list your San Jose home with a Flat Fee MLS California listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What are the current mortgage rates in San Jose for buyers?
The state-wide average mortgage rate for buyers fluctuates between 6.8% and 7%. However, it depends on the market and the borrower's credit score. Always check current rates with lenders.
What is the average cost of living in San Jose, California?
San Jose's cost of living is 76% higher than the national average and 27% higher than the state average. Housing costs are the biggest contributors, around 221% higher than the US median. Essentials like food, clothing, and groceries are about 14% higher than the national average.
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