Is San Jose, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$1,354,548
$849/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in San Jose was $1,354,548 in April 2024, up 7.5% from last year, and the median price per square foot was $849.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $556K | $560K | +0.7% |
2 Bedrooms | $793.2K | $820.9K | +3.5% |
3 Bedrooms | $1.2M | $1.3M | +6.6% |
4 Bedrooms | $1.5M | $1.6M | +7.8% |
5+ Bedrooms | $1.8M | $2.1M | +13.6% |
Summary: San Jose housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Cities
Santa Clara | $1.4M | $1.5M | +9.5% |
Campbell | $1.6M | $1.7M | +7.9% |
San Jose | $1.2M | $1.3M | +7.5% |
Saratoga | $3.5M | $3.7M | +4.7% |
Los Gatos | $2.2M | $2.1M | -3.3% |
Housing Supply in San Jose, CA
How many homes are available in San Jose, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,236 | 1,501 | +21.4% |
Summary: The San Jose real estate market had 1,501 homes for sale in April 2024, a 21.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 57 | 52 | -8.8% |
2 Bedrooms | 291 | 335 | +15.1% |
3 Bedrooms | 450 | 562 | +24.9% |
4 Bedrooms | 347 | 448 | +29.1% |
5+ Bedrooms | 91 | 104 | +14.3% |
Summary: The San Jose housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 24.9%, 4 bedroom homes increased by 29.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
474 | 563 | +18.8% |
Asking Price vs. Sold Price
66 Homes Were Sold
Under Asking
48 Homes Were Sold
At Asking
427 Homes Were Sold
Over Asking
Summary: A total of 563 homes were sold or pending in San Jose in April 2024, up by 18.8% month-over-month. Of the 541 sold homes, 12% were sold under asking, 9% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 12 Days | -38.1% |
Summary: Homes in San Jose had an average of 12 days on market in Apr 2024, down by 38.1% compared to last year.
Breakdown of Home Sale Times
522 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During April 2024, 563 homes were sold in San Jose; 93% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.