The Willow Glen real estate market in San Jose is cooling, though not every data point is worse than a year ago.
- Average home prices are down both month over month and year over year.
- Homes are selling in 42 days on average, up from 36 last month and much longer than last year’s red hot 7 days.
- The sale to list price ricked up to 98% in January from 97.1% in December, another indicator that the market is heating up.
The best priced homes with no location or condition issues continue to sell quickly. Some properties that are taking a long time to sell have moved into “buyer’s market” territory.
Willow Glen Real Estate Market Trends: Single Family Homes
The Willow Glen listings houses have been pending faster than they are coming on the market. Right now, home prices are up both month over month AND year over year. It’s quite remarkable!
Click for the complete Willow Glen real estate report:
| Trends At a Glance | Feb 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,650,000 (-21.6%) | $2,105,000 | $1,912,500 (-13.7%) |
| Average Price | $1,778,420 (-25.1%) | $2,373,620 | $2,055,560 (-13.5%) |
| No. of Sales | 19 (+58.3%) | 12 | 34 (-44.1%) |
| Pending | 50 (+4.2%) | 48 | 73 (-31.5%) |
| Active | 33 (+37.5%) | 24 | 25 (+32.0%) |
| Sale vs. List Price | 100.4% (+2.5%) | 98.0% | 114.8% (-12.6%) |
| Days on Market | 42 (+16.7%) | 36 | 7 (+475.8%) |
| Days of Inventory | 47 (-21.8%) | 60 | 20 (+136.2%) |
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!
Data from Altos Research for Willow Glen Real Estate Trends – San Jose 95125
In the latest update, Altos says single family homes are in a strong seller’s market with flat market action, and a slight increase in perpetually low inventory. With 38% of the homes having a price reduction (down from 41% a month ago), the market is giving us some mixed signals. The percentage of homes with prices decreased is a big indicator of the market’s direction. What’s selling? Homes with attractive list prices.
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
And next, of Willow Glen condos:
Willow Glen San Jose Condo Trends at a Glance
Prices are up month over month but down year over year. With only 3 closed sales it’s possible that the data below could be off for your particular condo or townhouse. As of the end of January there were no condominium or townhouse listings in Willow Glen. Thinking of selling? There’s far more demand than supply – it’s a fantastic time to sell!
| Trends At a Glance | Feb 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,013,750 (+15.9%) | $875,000 | $1,125,000 (-9.9%) |
| Average Price | $1,081,880 (+10.8%) | $976,667 | $1,110,990 (-2.6%) |
| No. of Sales | 4 (+33.3%) | 3 | 9 (-55.6%) |
| Pending | 8 (+60.0%) | 5 | 11 (-27.3%) |
| Active | 2 (N/A) | 0 | 5 (-60.0%) |
| Sale vs. List Price | 102.1% (+2.8%) | 99.4% | 114.3% (-10.6%) |
| Days on Market | 6 (-78.0%) | 27 | 6 (+5.9%) |
| Days of Inventory | 14 (N/A) | 0 | 15 (-10.0%) |
Here is the Altos Research market profile for condominiums and townhouses in Willow Glen.
As of the latest update, there is only 1 active listings and condos remain in a strong seller’s market with market action revealing only the mildest of seasonal dips. It’s a busy market with extremely low and shrinking inventory for Willow Glen condos and townhomes.
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:
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 still a seller’s market in Willow Glen.
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 real estate market inventory of 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
3. Listings of condominiums (condos) for sale in Willow Glen, San Jose 95125
https://idx.diversesolutions.com/link/445728
