The San Jose real estate market is a strong seller’s market, and it has been for months. Available inventory continues to shrink and demand remains high. This article is updated monthly with the latest market data. Here’s a sample of the latest for San Jose’s single family housing market:
There was a significantly hotter seller’s market in December 2020 compared to the year before.
San Jose homes took an average of only 16 days to sell.
The average sale to list price ratio was 104.1%, a small decrease month over month and 3.5% higher than the year before.
This spring the market experienced mild unseasonable cooling, a likely result of the pandemic, though it’s been in recovery since and saw increasingly hot markets through summer and into autumn. Winter has finally begun to show some mild seasonal cooling. This is visible in the San Jose housing market data below, and I’ve also seen it in my own real estate practice.
Something to note, however, is that these charts will not reflect the full effect of the pandemic on the market. We have a better view of the impact now that we have a good spread of data to look back on, but it will take a while to see the full picture. For now, you can read about Coronavirus’ impact on real estate sales on my other post.
During the shutdown so far, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory. Current numbers are accurate, but disregard this data for those previous months.
First please find the Altos Research Charts, a live feed of data on the housing markets in San Jose. You will then also find the RE Report, charts with statistics comparing sales in the last month and comparing them month-over-month and year-over-year. These are both the usual tools I use to gauge a market. Directly below are links to the market analysis of specific neighborhoods in San Jose. Some of these, where I work the most, are updated monthly, and others are updated every few months.
Altos Charts for the San Jose real estate market as a Whole – automatically updated each week – single family homes
First, the market profile and then the basic charts for single family homes or houses in San Jose. FYI, Altos uses LIST prices. The RE Report further down uses SOLD prices (which is part of the reason why I utilize both).
This real time market San Jose housing market profile (updated January 12th) shows on the graph a steadily retreating inventory, lengthening days on market, and a stable market action. San Jose is in a strong seller’s market according to Altos, and holding. The Median List Price (for condos and houses combined) is usually stable around $1,250,000, though it was nearer to $1.3 mil around late summer and early autumn.
When locals think of Willow Glen, most will picture the charming historic homes and bustling downtown strip, but this attractive community extends beyond the historic blocks. The Willow Glen Neighborhood Association defines the Central and Historic Willow Glen area apart from the Greater Willow Glen Neighborhood and Planning Area, roughly 10.4 square miles with approximately 82,000 residents. One of the scenic communities of the greater Willow Glen area is Doerr Park.
Doerr Park, sometimes called Doerr-Steindorf or simply Doerr, is within the 95124 zip code of San Jose, not far from the Cambrian border. The boundaries of this community are Curtner Ave, Meridian Ave, Foxworthy Ave, and Leigh Ave (See it on this Google Map). It is marked by tidy homes and yards with neat green lawns and airy street trees. Towards the center of this highly walkable neighborhood sits a nearly 12 acre city park. Doerr Park is a sunny community park with expansive lawns, open tree groves, picnic benches with barbeque stations, two magnificent playgrounds for different age groups (one of them has 3-tiered climbing towers and long slides for the older children!), a basketball court, softball field, four tennis courts, and restrooms. The park is very popular!
This neighborhood is accessible, too! There’s shopping and an office complex at the corner of Foxworthy Ave and Meridian, with a Grocery Outlet, gas station, and bank. It’s very close to more shopping including restaurants, Target, Home Depot, and more. For commuters, it’s only a 6 minute drive to 85, 17, and Almaden Expy, and there are bus lines which run along Curtner and Leigh.
There are a few possible negatives to consider, however. Some areas are beside easements for high voltage power lines, though a large portion of the easement connecting to the park has recently been transformed into a community trail. Not all phone lines are under ground, which might be considered an eyesore by some.
Willow Glen is one of the most charming areas of San Jose, consisting of many older homes which feature lovely, classic architecture. Most Silicon Valley home buyers treasure the Willow Glen charm and ambiance, but many are seeking newer homes. A fabulous option is “The Willows“.
KB Homes built “The Willows” in 1999 to 2000. It is tucked away at the southernmost tip of Willow Glen, off of Foxworthy Avenue & close to Almaden Expressway, but only about 2.5 to 3 miles from all the action on Lincoln Avenue.
The tree-lined streets are built in something of a loop shape with Rubino Circle being the main access or loop road. Situated on the inner part of the loop are homes with smaller lots that are a little more affordable. The outer part of the circle is built with slightly larger homes on larger lots (but none of the lots are “big”). Sidewalks with soft curbs at the corners accompany the streets and make for a pedestrian-friendly, bike, wheelchair or stroller friendly area. Visit in the early evenings and you will see children and adults walking, strolling, taking dogs for a walk etc. – always a good sign! Because the neighborhood is a bit like an oversized cul-de-sac (no through traffic), it is very quiet in terms of traffic. The area has large street lights, too, making for a safe feeling community.
The Hacienda Gardens subdivision in San Jose straddles the Willow Glen and Cambrian districts, and it enjoys the highly regarded Cambrian schools. Homes and lots tend to be a little on the small side, so prices are relatively affordable as Willow Glen or Cambrian neighborhoods go, especially for such a strong school district. As San Jose real estate goes, this is a good value area due to great schools, more modest prices and lots of great amenities in the immediate area.
What are homes like in the Hacienda Gardens neighborhood?
There are around 550 houses in this San Jose subdivision. They were built originally in 1953 and 1954, though some may be newer or rebuilt since then. Ranch style homes, they were constructed with 3-4 bedrooms and 1 or 2 bathrooms and came with an attached one or two car garage. The builder used slab foundations and wall heaters, but many home owners have since added forced air heat (and central air conditioning).
Square footage of these houses runs from 1060 SF to 1400 SF in 82% of the homes (I crunched the numbers using county real estate records via the Realist Report), but 78 are larger than this (18%) and one is a hair over 3,000 SF.
Most of the neighborhood has parcels of around 5500 square feet, as a ballpark. I ran the data on this too and found 486 of the 550 or so homes had lot sizes of 6000 SF or less (88% of the homes). But just like with the house sizes, there are a few that are bigger – 64 or 12% are larger than this, and the largest parcels are 1/4 acre or more.
There’s some new construction close to the shopping center too – it was built in very recent years. When I get more info on those homes, I will update this article.
Where is the Hacienda Gardens area?
This corner of San Jose is entirely in the 95124 zip code, but about one third is north of Foxworthy (and just south of beautiful Doerr Park), which our MLS refers to as the Willow Glen area, and the other two thirds is between Foxworthy and Hillsdale, just west of Meridian Avenue, in the Cambrian area.
Adjacent to this neighborhood is the Hacienda Gardens Shopping Center, which runs between Hillsdale, Meridian, and Foxworthy Avenues. In recent years that shopping center changed hands and has been given a gorgeous facelift, making it a place neighbors will appreciate having in close proximity. It is home to a good-sized Rite Aid store, the long-term tenant Hometown Buffett, and a number of other restaurants offering pizza, Chinese food, and BBQ as well as other shops, institutions, and stores, such as Wells Fargo. (more…)
Located on a quiet, tree lined street in the St. Francis Woods neighborhood of Willow Glen, San Jose, a stunningly remodeled and spacious home at 1548 Santa Inez Drive is a dream home in a fabulous neighborhood.
Offered for sale at $875,000 – Approximately 2028 square feet on a comfortable 8250 SF lot (per county records), this lovely 3 bedroom, 2.5 remodeled bath home has truly spacious living areas, a kitchen that will knock your socks off and a backyard perfect for entertaining. Please enjoy the virtual tour, below, then get all the details next.
Highlights of this Willow Glen home for sale include:
3 bedrooms with lovely crown moulding & large, classic base
2.5 elegantly remodeled bathrooms
High-end, remodeled kitchenfeaturing slab granite counter tops and complimentary tile back splash with granite accent pieces
Stainless steel sink and appliances
GE Profile set of ovens (2 plus warming drawer)
Miele 5 burner gas range
GE Profile microwave
Extra high ceiling with a canopy of recessed lights
Tasteful and unique two tone cabinets – wood on bottom, black on top pieces with under-cabinet lighting installed, pullouts and “lazy Susan” too
Loads of storage & counter space plus a pantry
Floor made of large tiles, theme carried from entry hall into half bath, laundry area and pantry too
Hi, I’m Mary Pope-Handy, the author of this blog and a Silicon Valley Realtor with Sereno in the Los Gatos office. I help nice folks to buy & sell homes in Silicon Valley, mostly in Santa Clara County.
Abr, CIPS, CRS, SRES
Sereno Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
Mary (at) PopeHandy.com
Selling homes in
Santa Clara County,
San Mateo County, and
Santa Cruz County.
Special focus on:
San Jose, Los Gatos,
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