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.
Key Takeaway
San Jose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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
Key Takeaway
Homes in San Jose have sold for 4.8% more than they did a year ago.
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
Key Takeaway
If you're buying a home in San Jose, you could pay more than the asking price. 78.1% of homes here sold above asking price last month.
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
Key Takeaway
Many homes in San Jose are selling fast, if you're buying plan to act quickly.
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.
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Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS©, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing Broker has attempted to offer accurate data, but buyers are advised to confirm all data provided. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.