Willow Glen real estate market is a strong seller's market. This Willow Glen sign is from the downtown business district.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 have sold close to list price for a long time now and currently are going at a flaming hot 106.8% of 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 Feb 2020 Previous Month Year-over-Year
Median Price $1,441,500 (+0.5%) $1,435,000 $1,312,500 (+9.8%)
Average Price $1,497,690 (-4.2%) $1,563,060 $1,370,810 (+9.3%)
No. of Sales 32 (0.0%) 32 36 (-11.1%)
Pending 43 (+53.6%) 28 44 (-2.3%)
Active 36 (+12.5%) 32 57 (-36.8%)
Sale vs. List Price 106.8% (+5.8%) 100.9% 99.5% (+7.3%)
Days on Market 21 (-19.5%) 27 30 (-29.3%)
Days of Inventory 32 (+5.0%) 30 43 (-26.3%)

 

And last month:

 

Trends At a Glance Jan 2020 Previous Month Year-over-Year
Median Price $1,435,000 (+1.8%) $1,410,000 $1,450,000 (-1.0%)
Average Price $1,563,060 (+5.4%) $1,483,190 $1,540,570 (+1.5%)
No. of Sales 32 (-28.9%) 45 27 (+18.5%)
Pending 28 (-9.7%) 31 33 (-15.2%)
Active 32 (+33.3%) 24 56 (-42.9%)
Sale vs. List Price 100.9% (+1.9%) 99.1% 100.2% (+0.7%)
Days on Market 27 (-13.7%) 31 43 (-38.2%)
Days of Inventory 30 (+87.5%) 16 62 (-51.8%)

 

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!

Since the last update, Altos says Willow Glen is in a strong seller’s market.

 

Willow Glen Real-Time Market Profile

 

Charts for Willow Glen realty:

 

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

You can see the very clear peak at the start of 2018. Prices have since fallen, but not back to where they were at the start of 2017 or earlier.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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

This chart looks much more flat, for good reason. Housing prices don’t usually change overnight, so they should look pretty flat. That said, the markets do show a hint of a warming trend as we move towards spring.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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 given how so few condo sales happen every month. Better indicators are the days of inventory, days on market, and the sale price to list price ratio. Overall, it’s a good market in Willow Glen for condos, with some cooling and some warming over the last few months. The number of sales dropped since the month before, and although inventory is growing sales have dropped. There’s been some cooling, but the best homes are selling quickly and close to list price. So condos in Willow Glen are in a moderate market right now, much calmer than the housing market this February.

 

Trends At a Glance Feb 2020 Previous Month Year-over-Year
Median Price $825,000 (+16.0%) $711,500 $842,500 (-2.1%)
Average Price $825,000 (+9.9%) $750,750 $872,500 (-5.4%)
No. of Sales (-50.0%) 4 (-50.0%)
Pending (+200.0%) 3 (+50.0%)
Active (+75.0%) 4 12 (-41.7%)
Sale vs. List Price 98.0% (-0.5%) 98.5% 99.9% (-1.9%)
Days on Market 113 (+240.9%) 33 29 (+291.3%)
Days of Inventory 98 (+226.7%) 30 81 (+21.0%)

 

And the month prior:

 

Trends At a Glance Jan 2020 Previous Month Year-over-Year
Median Price $711,500 (+4.2%) $682,500 $890,000 (-20.1%)
Average Price $750,750 (+4.5%) $718,333 $801,667 (-6.4%)
No. of Sales (-33.3%) 6 (+33.3%)
Pending (-25.0%) 4 (0.0%)
Active (-55.6%) 9 10 (-60.0%)
Sale vs. List Price 98.5% (-1.6%) 100.1% 97.1% (+1.4%)
Days on Market 33 (-18.5%) 41 57 (-42.4%)
Days of Inventory 30 (-33.3%) 45 100 (-70.0%)

 

The market has been shifting and moving more into the buyer’s favor since the peak pricing earlier this year and 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.

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

 

Real-Time Altos Market Profile Condos

 

This time around, the Altos live chart is showing something different than the Real Estate Report for last month. While pricing is down and inventory is shrinking, Altos shows that homes are selling more quickly and market action is getting stronger shifting the market from a slight seller’s market into a strong seller’s market.

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:

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

Pricing has been at a high since around the start of 2018 but recently dropped below that for the first time at the tail end of 2019, so we’re currently seeing median pricing for condos that we haven’t seen since 2017.

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

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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!

 

Related Reading

The Willow Glen District of San Jose: Charm, Community and Convenience Abound

Relocating to Silicon Valley? How to Decide Where to Live!

Beautiful Spanish Style Homes for Sale in Silicon Valley

 

Willow Glen homes for sale

Browse residential properties – houses, duet homes, condos and townhomes in Willow Glen which are listed for sale on the MLS by type below.

1. Listings of houses for sale in Willow Glen, San Jose 95125

https://idx.diversesolutions.com/link/445451

2. Listings of townhouses or townhomes for sale in Willow Glen, San Jose 95125

https://idx.diversesolutions.com/link/439817

3. Listings of condominiums (condos) for sale in Willow Glen, San Jose 95125

https://idx.diversesolutions.com/link/445728

 

 

 

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


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