How’s the Santa Teresa real estate market? The scenic Santa Teresa area of San Jose is popular as it’s a bit more affordable, offering lovely views of the hills and public schools that seem to be improving over time, making the area more desirable. These positives appear to be helping that district hold its value well. Here are a few details from the latest monthly market update for Santa Teresa single family homes (read the full analysis below):
- Inventory rose a hair from the last month, but was below half of what it was this time last year for single family homes. In the condo and townhouse market, however, inventory has remained fairly consistent with slight growth month-to-month and year-over-year.
- Closed sales grew and pending sales held stable month-to-month in the single family home market, and both have barely budged year-over-year. For condos and townhomes, closed sales held stable while pending sales shrank from the month before, both falling short of this time last year.
- The sale to list price ratio skyrocketed, however that might in part be due to limited sales causing major swings (like the -5.4% drop we saw here last month) for market data. Both parts of the market are now averaging over list price, with single family home sales averaging 103.9% of asking. Both markets are also up year-over-year.
- The average time on market sped up, now under a month for both sectors. t
To begin our analysis below, we have some live data feeds organized by zip code.
Santa Teresa (our MLS Area 2) includes a small bit of the 95123 zip code, which tends to be more expensive, but most of that zip code is Blossom Valley, so we will omit it. The 95138 zip code is about half Santa Teresa and half Evergreen (more expensive area), so take those numbers with a big grain of salt. I find the 95119 zip code to be most helpful, but even then, the school district is divided between Oak Grove and Morgan Hill. Take all of this data with a pound of salt, and remember that these micro markets can have a big impact!
Weekly update from Altos Research with a “market profile” of San Jose’s Santa Teresa area, zip code 95119 for single family homes / houses:
When there’s not enough data, the fields will be blank. Click any of these tables to go to the full report.
Santa Teresa 95119, frequent experiences severely low active listings for months, so often there isn’t much data to analyze (if any). Small pools of data can make trend tracking less accurate. So take it with a grain of salt and look at the overarching trends across this chart and some of the neighboring areas.
Weekly update from Altos Research with look at a glance of zip code 95138 for single family homes or houses:
The 95138 market tends to bounce around a bit more.
Weekly update for 95139:
Here in 95138 there has been extremely low inventory for a while now, so take this with a grain of salt. In past years this area often fell between the other two zip codes for pricing, although since 2024 it’s often been the lowest.
Here’s a quick view of the real estate statistic and trends for just the Santa Teresa area’s single family homes (houses / duet homes):
Santa Teresa real estate market stats & trends from the RE Report:
The market in Santa Teresa has been red hot in 2026 so far, though for the most part it has not been as hot as the previous year. Much like in 2025, spring 2026 trends peaked early with some slight cooling beginning in March. Competition has eased off, and while there’s been some up and down month-to-month, Santa Teresa has seen a general cooling trend through summer with a little burst of late-summer / early-autumn heating. It’s still a seller’s market for Santa Teresa single family homes.
Homes continue to sell quickly in under a month on average and over list price. Closed prices are up year-over-year, but available inventory is well below 2025 despite the number of closed and pending sales being about the same. Activity market pressure is elevated compared to September 2025, and the best homes are still selling fast and high while homes with a little more work needed or other issues may be taking a little longer to sell than they would have a few years ago.
| Trends At a Glance | Sep 2026 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,452,500 (+0.2%) | $1,450,000 | $1,360,000 (+6.8%) |
| Average Price | $1,466,240 (-3.6%) | $1,521,530 | $1,426,330 (+2.8%) |
| No. of Sales | 14 (+55.6%) | 9 | 15 (-6.7%) |
| Pending | 11 (0.0%) | 11 | 10 (+10.0%) |
| Active | 11 (+22.2%) | 9 | 24 (-54.2%) |
| Sale vs. List Price | 103.9% (+4.4%) | 99.5% | 98.2% (+5.8%) |
| Days on Market | 28 (-6.7%) | 30 | 40 (-31.0%) |
| Days of Inventory | 23 (-24.0%) | 30 | 46 (-50.9%) |
Read my entire Santa Teresa area real estate market report to explore more details and statistical analysis. This particular page linked goes to the report for houses, but you can navigate through home types to see condos/townhomes in Santa Teresa or any other area in San Jose, Santa Clara County, San Mateo County, or Santa Cruz County.
Sorting out the areas in Santa Teresa requires understanding multiple factors
Map data: Google, MLS Listings.
Because this is a broad area, there are different school districts involved – Oak Grove and Morgan Hill, and those zones will have slightly different values themselves, of course (Morgan Hill is not exactly 2 minutes away, so schlepping kids that far south is a bit of a pain). Part of this area is in the east foothills, in Evergreen and close to Silver Creek, and part is almost in Coyote Valley, while other areas blur into Blossom Valley or creep into the foothills overlooking Almaden. All are specific sub markets so it’s important to run the data for whatever micro-market you are actually working in!
Also, please note that zip codes don’t always relate to the districts. Zip code 95138 is a great example of that as part of it is in Santa Teresa and part in Evergreen (pricey and upscale Silver Creek). Pull up the averages for 95138 and you might think that homes are selling for upwards of $2 million. But if you look in the charming but more affordable Silver Leaf area of the same zip code, you’ll find they cost only about half that much! So too with 95123 (though less dramatic) as about half of that is in Blossom Valley and part in Santa Teresa. 95119 is all Santa Teresa, though, so it’s a good benchmark to use.
It’s good to do a lot of research, but beware the “easy answers” of price per square foot or average sales price per zip code. Often your best help will come from a highly experienced real estate professional who’s willing to help you to crunch the numbers for the Santa Teresa real estate market.
Santa Teresa Condominium and Townhouse Market
And don’t forget the condo market! This can be even more difficult to pin down because of the small amount of data and the wide variety of values. Data for this sector can be wonky because of low inventory.
Here’s a quick look at the current Santa Teresa condo market from the RE Report data:
Trends at a Glance for Santa Teresa Condos & Townhomes
This profile, below, is updated WEEKLY and is from Altos Research. Where there is no data, there are no listings.
The profile for 95119 condos and townhomes:
If the live Altos charts show a blank where there should be numbers, that means that there aren’t enough listings to calculate this info.
The profile for 95138 condos and townhomes:
With so few listings in the 95138 condo market, it’s clear this data may be prone to wild swings – and lately we’ve seen a few!
And for 95139:
Frequently we’ll see nothing to show in this market profile, or the data may rely on just 1 or 2 active listings, and not uncommon for this market. Often there’s not enough data to fill out this chart. Still, minimal data can cause wild swings in the charts, so take this with a pound of salt.
With inventory few and far between, it’s important to look at the bigger picture to get a sense of things!
Condo market trends at a glance
This sector tends to experience a lot more up and down compared to the single family home market. Still, February saw an early spring peak with a calmer spring and further cooling setting in towards summer in the Santa Teresa condominium and townhouse market. These homes are seeing significantly less turnover with lower demand and is much more balanced than the single family housing market, so for weary buyers it can be an opportunity to buy with less competition.
With just 5 closed sales (and sometimes less), these tiny data pools can make trend tracking a challenge! Overall the market seems to be fluctuating between a mild seller’s market and balanced, and has remained calmer than some other south bay communities.
Trends at a Glance
| Trends At a Glance | Sep 2026 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $912,000 (+17.5%) | $776,000 | $1,079,000 (-15.5%) |
| Average Price | $913,400 (+13.3%) | $806,200 | $1,040,670 (-12.2%) |
| No. of Sales | 5 (0.0%) | 5 | 12 (-58.3%) |
| Pending | 8 (-20.0%) | 10 | 9 (-11.1%) |
| Active | 22 (+4.8%) | 21 | 20 (+10.0%) |
| Sale vs. List Price | 100.1% (+2.5%) | 97.6% | 98.9% (+1.2%) |
| Days on Market | 24 (-36.5%) | 38 | 55 (-55.6%) |
| Days of Inventory | 128 (+1.3%) | 126 | 48 (+164.0%) |
Interested in buying or selling a house, townhouse or condominium in the Santa Teresa area? Below, please check out a list of available properties, listed in order of most recently added to the MLS first. Or better yet, call or email me to discuss working together! Click the link below:
View Santa Teresa homes for sale
