Is San Jose, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$1,340,050
$840/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in San Jose was $1,340,050 in March 2024, up 4.8% from last year, and the median price per square foot was $840.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $560K | $561K | 0.2% |
2 Bedrooms | $800K | $821.2K | +2.6% |
3 Bedrooms | $1.2M | $1.3M | +3.9% |
4 Bedrooms | $1.6M | $1.6M | +3.7% |
5+ Bedrooms | $1.8M | $2.1M | +13.1% |
Summary: San Jose housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Cities
Campbell | $1.6M | $1.7M | +6.1% |
Santa Clara | $1.4M | $1.5M | +6.0% |
San Jose | $1.2M | $1.3M | +4.8% |
Saratoga | $3.5M | $3.7M | +3.6% |
Los Gatos | $2.2M | $2.1M | -7.3% |
Housing Supply in San Jose, CA
How many homes are available in San Jose, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,040 | 1,247 | +19.9% |
Summary: The San Jose real estate market had 1,247 homes for sale in March 2024, a 19.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 57 | 61 | +7.0% |
2 Bedrooms | 247 | 298 | +20.6% |
3 Bedrooms | 391 | 448 | +14.6% |
4 Bedrooms | 280 | 350 | +25.0% |
5+ Bedrooms | 65 | 90 | +38.5% |
Summary: The San Jose housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
371 | 477 | +28.6% |
Asking Price vs. Sold Price
64 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
360 Homes Were Sold
Over Asking
Summary: A total of 477 homes were sold or pending in San Jose in March 2024, up by 28.6% month-over-month. Of the 461 sold homes, 14% were sold under asking, 8% were sold at asking, and 78% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
24 Days | 16 Days | -30.5% |
Summary: Homes in San Jose had an average of 16 days on market in Mar 2024, down by 30.5% compared to last year.
Breakdown of Home Sale Times
415 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Summary: During March 2024, 477 homes were sold in San Jose; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.