The real estate market of Willow Glen in San Jose has started to show signs of mild cooling. Seasonally, that’s not atypical. The last 2 years with the Covid induced buying frenzy catapulted the market into the whitest hot seller’s market that I’ve ever seen in my career. Now it’s time to level off and let the market collectively catch its breath.
Just to be clear, it is still a seller’s market in Willow Glen. It’s simply not as extreme as it was in February and March.
- Inventory is up 40.5% from the month before and 103.4% from the year before.
- Compared to May 2021, the average and median price rose by 17.5% and 16.7% respectively. Prices were down double digits from April 2022, though.
- Home sales averaged 11 days on market and sale to list price ratio at a red hot 110.1% of list price. Both of these were a little softer from the month before. The days on market were the same as May 2021. The sale price to list price ratio was 2% higher than last year.
The Willow Glen Real Estate Market
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 with fantastic shopping and dining opportunities 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.
Willow Glen Real Estate Market Trends: Single Family Homes
Click for the complete Willow Glen real estate report:
| Trends At a Glance | May 2022 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $2,100,000 (-9.8%) | $2,327,500 | $1,800,000 (+16.7%) |
| Average Price | $2,241,230 (-11.5%) | $2,533,180 | $1,907,660 (+17.5%) |
| No. of Sales | 58 (-6.5%) | 62 | 81 (-28.4%) |
| Pending | 79 (-9.2%) | 87 | 94 (-16.0%) |
| Active | 59 (+40.5%) | 42 | 29 (+103.4%) |
| Sale vs. List Price | 110.1% (-3.5%) | 114.1% | 107.9% (+2.0%) |
| Days on Market | 11 (+46.4%) | 7 | 11 (+0.8%) |
| Days of Inventory | 31 (+55.3%) | 20 | 11 (+184.1%) |
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 – San Jose 95125
In the latest update, Altos says single family homes are in a strong seller’s market with elevated market action, a slight increase in perpetually low inventory, and racing fast days on market.
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
Willow Glen Market Trends: Condos and Townhomes
And next, of Willow Glen condos:
May brought a little more inventory (it’s counted on the last day of each month), but fewer pendings compared to the month before. Prices declined slightly month over month (seasonally, that’s not super unusual), however they are up from the same month last year.
What is clear, though, is that townhouses and condos are selling well (sale to list price at 110.4%) and quickly (10 days on market).
Trends at a Glance
| Trends At a Glance | May 2022 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,092,500 (-3.1%) | $1,127,500 | $1,075,000 (+1.6%) |
| Average Price | $1,123,710 (-0.8%) | $1,133,060 | $1,025,000 (+9.6%) |
| No. of Sales | 14 (-12.5%) | 16 | 4 (+250.0%) |
| Pending | 9 (-50.0%) | 18 | 15 (-40.0%) |
| Active | 6 (+50.0%) | 4 | 7 (-14.3%) |
| Sale vs. List Price | 110.4% (-2.7%) | 113.5% | 102.1% (+8.1%) |
| Days on Market | 10 (+0.4%) | 10 | 42 (-75.3%) |
| Days of Inventory | 13 (+77.3%) | 7 | 53 (-75.5%) |
Here is the Altos Research market profile for condominiums and townhouses in Willow Glen.
As of the latest update, there are only 4 active listings and condos remain in a strong seller’s market with market action revealling 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 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
