Is Downtown San Jose, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Downtown San Jose has remained a Seller's Market.
Housing Prices in Downtown San Jose, CA
How much do homes in Downtown San Jose, CA cost?
Median Sold Price
$968,000
$748/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Downtown San Jose was $968,000 in May 2024, up 4.6% from last year, and the median price per square foot was $748.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $675K | $687K | +1.8% |
2 Bedrooms | $862.5K | $850K | -1.4% |
3 Bedrooms | $1.0M | $1.2M | +13.8% |
4 Bedrooms | $1.3M | $1.3M | +3.4% |
5+ Bedrooms | $1.4M | $1.2M | -9.3% |
Summary: Downtown San Jose housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 9.3%.
Housing Supply in Downtown San Jose, CA
How many homes are available in Downtown San Jose, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
66 | 81 | +22.7% |
Summary: The Downtown San Jose real estate market had 81 homes for sale in May 2024, a 22.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 30 | 33 | +10.0% |
3 Bedrooms | 19 | 26 | +36.8% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The Downtown San Jose housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 36.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 17 | -5.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Downtown San Jose in May 2024, down by 5.6% month-over-month. Of the 17 sold homes, 35% were sold under asking, 12% were sold at asking, and 53% were sold over asking.
Days on Market for Downtown San Jose, CA
How long does it take to sell a home in Downtown San Jose, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
33 Days | 19 Days | -41.8% |
Summary: Homes in Downtown San Jose had an average of 19 days on market in May 2024, down by 41.8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in Downtown San Jose; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.