Mary Pope-Handy's Market Report

San Jose, CA 95118

Single-Family Homes

Christie's International Real Estate Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog



San Jose, CA 95118

Wed Feb 21 2024
This week the median list price for San Jose, CA 95118 is $1,499,000 with the market action index hovering around 78. This is an increase over last month's market action index of 74. Inventory has increased to 7. Click here to stay informed with the San Jose market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to have been falling a bit recently. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

San Jose, CA 95118

Wed Feb 21 2024
This week the median list price for San Jose, CA 95118 is $1,499,000 with the market action index hovering around 78. This is an increase over last month's market action index of 74. Inventory has increased to 7. Click here to stay informed with the San Jose market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to have been falling a bit recently. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the San Jose market.
Median List Price $1,499,000
Median Price of New Listings $1,499,000
Per Square Foot $1,039
Average Days on Market 18
Median Days on Market 7
Price Decreased 14%
Price Increased 0%
Relisted 14%
Inventory 7
Median Rent
Market Action 78
Strong Seller's Market

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,850,000 1,780 4,500 - 6,500 sqft 4 2 49 0 0 98
$1,649,499 1,407 6,500 - 8,000 sqft 3 2.5 61 1 1 3
$1,474,500 1,615 6,500 - 8,000 sqft 3 2.3 62 2 2 0
$1,261,500 1,615 6,500 - 8,000 sqft 3 2.3 61 0 0 10