Is San Jose, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, San Jose has remained a Seller's Market.
Housing Prices in San Jose, CA
How much do homes in San Jose, CA cost?
Median Sold Price
$1,384,963
$865/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in San Jose was $1,384,963 in June 2024, up 10.8% from last year, and the median price per square foot was $865.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $555K | $562K | +1.3% |
2 Bedrooms | $786.4K | $829K | +5.4% |
3 Bedrooms | $1.2M | $1.3M | +10.0% |
4 Bedrooms | $1.5M | $1.7M | +14.6% |
5+ Bedrooms | $1.8M | $2.2M | +21.7% |
Summary: San Jose housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 21.7%.
Median Sold Price Compared To Nearby Cities
Campbell | $1.5M | $1.8M | +13.7% |
San Jose | $1.2M | $1.3M | +10.8% |
Santa Clara | $1.4M | $1.6M | +10.6% |
Saratoga | $3.5M | $3.8M | +10.6% |
Los Gatos | $2.1M | $2.2M | +2.3% |
Housing Supply in San Jose, CA
How many homes are available in San Jose, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,636 | 1,638 | 0.1% |
Summary: The San Jose real estate market had 1,638 homes for sale in June 2024, a 0.1% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 49 | 58 | +18.4% |
2 Bedrooms | 351 | 373 | +6.3% |
3 Bedrooms | 602 | 588 | -2.3% |
4 Bedrooms | 505 | 474 | -6.1% |
5+ Bedrooms | 129 | 145 | +12.4% |
Summary: The San Jose housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.4%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 12.4%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
647 | 557 | -13.9% |
Asking Price vs. Sold Price
86 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
419 Homes Were Sold
Over Asking
Summary: A total of 557 homes were sold or pending in San Jose in June 2024, down by 13.9% month-over-month. Of the 533 sold homes, 16% were sold under asking, 5% were sold at asking, and 79% were sold over asking.
Days on Market for San Jose, CA
How long does it take to sell a home in San Jose, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
15 Days | 14 Days | -6.7% |
Summary: Homes in San Jose had an average of 14 days on market in Jun 2024, down by 6.7% compared to last year.
Breakdown of Home Sale Times
493 Homes Were Sold
Under 30 Days
56 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During June 2024, 557 homes were sold in San Jose; 89% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.