San Jose Real Estate for Sale

In September 2024, San Jose home prices saw a modest increase of 0.1% compared to the previous year, with a median sale price of $1.4M. Homes in San Jose are taking slightly longer to sell, averaging 17 days on the market, up from 11 days last year, indicating a slight cooling in buyer urgency. However, the number of homes sold rose to 493, a noticeable increase from 444 in the same period last year, suggesting steady demand. Additionally, the median sale price per square foot climbed to $871, a 3.6% rise year-over-year, reflecting continued strength in price appreciation for more desirable properties or neighborhoods despite the slight market slowdown.

San Jose’s housing market is highly competitive, with homes typically selling in just 15 days. Many properties receive multiple offers, and some buyers are even waiving contingencies to secure their purchase. On average, homes sell for about 3% above the listing price and go pending within 15 days. For "hot" properties, the competition is even fiercer, with these homes selling for up to 9% above the list price and going pending in as little as 8 days.

Nationally, 3% of homebuyers searched for homes in San Jose from outside metropolitan areas. Among these, homebuyers from Honolulu showed the most interest in relocating to San Jose, followed by those from New York and Pensacola. This suggests that San Jose is attracting attention from diverse regions, with significant interest from both coastal and urban areas.