Willow Glen real estate market in San Jose

Published November 2, 2019 | By Mary Pope-Handy

Willow Glen is perhaps the most charming residential area of the city of San Jose with its old style architecture, tree lined streets and quaint downtown area on Lincoln Avenue and nearby. For folks working in downtown San Jose, the Willow Glen area (roughly the same as 95125 zip code, though a bit of 95124 is included also) is extremely convenient.

The Willow Glen real estate market for single family homes has been slipping a bit more toward a “balanced market”, but remains long-term in a seller’s market.

1. Willow Glen Market Trends: Single Family Homes

It’s a mostly flat seller’s market in Willow Glen. Prices are bumping up and down a little, but homes continue to sell for more than list price on average.

Here are the most recent housing sales statistics from the RE Report.

Click for the complete Willow Glen real estate report:

Trends At a Glance	Oct 2019	Previous Month	Year-over-Year
Median Price	$1,360,000 (-8.3%)	$1,482,750	$1,347,500 (+0.9%)
Average Price	$1,502,600 (-6.5%)	$1,607,380	$1,510,880 (-0.5%)
No. of Sales	52 (+18.2%)	44	32 (+62.5%)
Pending	55 (-8.3%)	60	39 (+41.0%)
Active	50 (-32.4%)	74	75 (-33.3%)
Sale vs. List Price	100.7% (+1.6%)	99.2%	101.9% (-1.1%)
Days on Market	22 (-45.3%)	40	25 (-10.4%)
Days of Inventory	29 (-40.9%)	49	70 (-59.0%)

And last month:

Trends At a Glance	Sep 2019	Previous Month	Year-over-Year
Median Price	$1,482,750 (+3.0%)	$1,440,000	$1,379,000 (+7.5%)
Average Price	$1,607,380 (+4.9%)	$1,532,710	$1,538,500 (+4.5%)
No. of Sales	44 (-22.8%)	57	50 (-12.0%)
Pending	60 (+9.1%)	55	40 (+50.0%)
Active	74 (+5.7%)	70	65 (+13.8%)
Sale vs. List Price	99.2% (-1.7%)	100.9%	101.8% (-2.5%)
Days on Market	40 (+54.4%)	26	25 (+64.5%)
Days of Inventory	49 (+32.4%)	37	38 (+29.4%)

Data from Altos Research for Willow Glen – San Jose 95125

Below please find a market profile and then a couple of charts for the real estate market for houses and duet homes (attached single family homes – not duplexes), care of Altos Research, to which I have a subscription. Altos uses list prices, not sold prices. The data is automatically updated each week, so please bookmark this post and come back often!

Charts for Willow Glen realty:

1 – Houses in the 95125 zip code – history, all price levels combined.

2 – Houses in the San Jose, 95125 zip code, by price quartile over last 180 days

2. Willow Glen Market Trends: Condos and Townhomes

And next, of Willow Glen condos:

Willow Glen Condos – Trends at a Glance

Prices have been bouncing up and down a little month over month, which is not surprising with just so few sales per month. A better indicator of the market is the days of inventory and the sale price to list price ratio. Overall, it’s a good market in Willow Glen for condos. There are more homes listed than for sale, which happens in virtually all markets (sellers tend to think that “everything sells”, but that isn’t the case). The best homes are selling quickly and close to list price.

Trends At a Glance	Oct 2019	Previous Month	Year-over-Year
Median Price	$760,000 (-3.7%)	$789,000	$890,000 (-14.6%)
Average Price	$755,500 (-13.2%)	$870,390	$899,429 (-16.0%)
No. of Sales	6 (0.0%)	6	7 (-14.3%)
Pending	2 (-66.7%)	6	8 (-75.0%)
Active	17 (+21.4%)	14	11 (+54.5%)
Sale vs. List Price	99.4% (+0.3%)	99.1%	101.1% (-1.7%)
Days on Market	46 (+31.2%)	35	15 (+206.3%)
Days of Inventory	85 (+25.6%)	68	47 (+80.3%)

And the month prior:

Trends At a Glance	Sep 2019	Previous Month	Year-over-Year
Median Price	$789,000 (-14.4%)	$921,500	$878,500 (-10.2%)
Average Price	$870,390 (-6.7%)	$932,667	$897,000 (-3.0%)
No. of Sales	6 (0.0%)	6	4 (+50.0%)
Pending	6 (-14.3%)	7	5 (+20.0%)
Active	14 (-6.7%)	15	16 (-12.5%)
Sale vs. List Price	99.1% (-1.6%)	100.7%	99.7% (-0.7%)
Days on Market	35 (+23.1%)	28	34 (+2.7%)
Days of Inventory	68 (-9.8%)	75	116 (-41.7%)

Here is the Altos Research market profile for condominiums and townhouses in Willow Glen.

The market has been shifting and moving more into the buyer’s favor since the peak pricing earlier this year. And it is considerably cooler than a year ago (which was off the charts hot). If it continues, we’ll be in a buyer’s market. It may, instead, resume seasonal patterns. We’ll have to wait and see.

Charts from Altos

1 – Condominiums and townhouses in Willow Glen, San Jose 95125 – all quartiles combined over the last few years for median list price:

2 – Condo and townhomes, median list price, by quartile, last 180 days only:

Like the greater Silicon Valley region, Willow Glen is comprised of many smaller micro-markets. It will be different in north Willow Glen, Palm Haven, The Willows, or in a walk-to-town area than it will be in the Dry Creek area or St. Francis Woods neighborhood – let alone differences for school districts, price point, zip code and home type! It’s a patchwork of all these smaller markets, in other words. What’s happening in one segment might be very different than in another. Disclaimers aside, overall it is a seller’s market in Willow Glen right now. It’s not as crazy as it was a few months ago – buyers, this is an opportunity to have a whole lot less competition!

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