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Willow Glen real estate market is a strong seller's market. This Willow Glen sign is from the downtown business district.The real estate market of Willow Glen in San Jose just keeps heating up, with significantly more activity overall than a year ago. It’s a raging hot seller’s market for Willow Glen homes! This article will provide data and analysis for the residential markets in this area, updated monthly. Here are a few points from the single family housing market update:

  • Continually low active inventory shows that listings can’t keep up with this hyperactive market!
  • Pending sales have grown by nearly 50% for the second month in a row 2020!
  • Most homes sell in about two weeks and with an average of 108.9% of list price!

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 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 remains in a long-term seller’s market despite recent cooling.

But things have certainly changed since last March. We should have a better view of the affect those changes are having on the Willow Glen real estate market this month, though not the complete picture. For an understanding of how Covid-19 is affecting the local real estate market, please check my post titled Coronavirus Impact on Real Estate Sales.

At the start of the shutdown, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory for those previous months, though current numbers should be accurate.

1. Willow Glen Market Trends: Single Family Homes

March’s market saw some ups and downs, but generally it remains a hot seller’s market. Sales rose and pending sales skyrocketed almost 50% from the month before for the second month in a row, growing from 25 in January to a whopping 102 in March! Both are well above last year’s sales and pendings. Active inventory, on the other hand, fell month-over-month and is less than half of what it was in 2020! Far more homes are selling than are currently available putting pressure on Willow Glen buyers. The sales to list price ratio also shot up from last month rising well above last year to a fiery 108.9%. Overall the market is stable with extremely active spring trends and Willow Glen homes continue to be in a hot seller’s market.

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 Mar 2021 Previous Month Year-over-Year
Median Price $1,700,000 (+9.6%) $1,551,000 $1,600,000 (+6.3%)
Average Price $1,895,870 (+11.4%) $1,701,970 $1,807,940 (+4.9%)
No. of Sales 55 (+25.0%) 44 39 (+41.0%)
Pending 102 (+47.8%) 69 30 (+240.0%)
Active 22 (-35.3%) 34 53 (-58.5%)
Sale vs. List Price 108.9% (+3.9%) 104.8% 104.2% (+4.6%)
Days on Market 15 (-55.9%) 33 12 (+19.6%)
Days of Inventory 12 (-42.5%) 21 41 (-70.6%)

And last month:

Trends At a Glance Feb 2021 Previous Month Year-over-Year
Median Price $1,551,000 (-3.1%) $1,600,000 $1,441,500 (+7.6%)
Average Price $1,701,970 (+2.0%) $1,668,950 $1,498,000 (+13.6%)
No. of Sales 44 (-6.4%) 47 32 (+37.5%)
Pending 69 (+46.8%) 47 38 (+81.6%)
Active 34 (+36.0%) 25 44 (-22.7%)
Sale vs. List Price 104.8% (+2.3%) 102.4% 106.8% (-1.8%)
Days on Market 33 (+33.4%) 25 21 (+56.0%)
Days of Inventory 21 (+30.7%) 16 39 (-45.8%)

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 and is heating up with minimal growth in inventory, days on market steadily low, and a rising market action.

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 fell, but not back to where they were at the start of 2017 or earlier. Early 2020 rose to levels that haven’t been seen since 2018, and we popped back up into that range at the start of 2021.

Real Estate Market Chart by Altos Research

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 are showing a clear warming trend in all price tiers since the start of the year.

Real Estate Market Chart by Altos Research

2. Willow Glen Market Trends: Condos and Townhomes

And next, of Willow Glen condos:

Willow Glen Condos – Trends at a Glance

With so few sales in the condo sector the data can sometimes swing dramatically. This month the sales to list price ratio dipped to 102.8%, which is well above last year. Sales more than doubled year-over-year and month-over-month. Pending sales slipped from the month before, but are more than double last year. Active listings, more than doubled month-over-month and also rose above last year’s inventory for the first time in months! The condo market for Willow Glen has been picking up speed in early spring. Overall it’s consistently warmer than last year in a stable seller’s market.

Trends At a Glance Mar 2021 Previous Month Year-over-Year
Median Price $805,000 (-8.7%) $882,000 $649,250 (+24.0%)
Average Price $876,167 (+3.0%) $850,367 $747,562 (+17.2%)
No. of Sales 18 (+200.0%) 6 (+125.0%)
Pending 14 (-26.3%) 19 (+133.3%)
Active 10 (+150.0%) 4 (+42.9%)
Sale vs. List Price 102.8% (-1.6%) 104.4% 99.3% (+3.5%)
Days on Market 15 (-38.9%) 24 11 (+34.9%)
Days of Inventory 17 (-7.4%) 18 26 (-36.5%)

And the month prior:

Trends At a Glance Feb 2021 Previous Month Year-over-Year
Median Price $882,000 (+2.3%) $862,500 $825,000 (+6.9%)
Average Price $850,367 (-1.1%) $859,750 $825,000 (+3.1%)
No. of Sales (-25.0%) 8 (+200.0%)
Pending 19 (+111.1%) 9 (+111.1%)
Active (-55.6%) 9 (-55.6%)
Sale vs. List Price 104.4% (+5.0%) 99.5% 98.0% (+6.5%)
Days on Market 24 (-25.0%) 32 113 (-78.7%)
Days of Inventory 18 (-46.7%) 34 126 (-85.7%)

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

Real-Time Altos Market Profile Condos

As of the latest update, Willow Glen condos have remained in a strong seller’s market with steady market action. It’s an active market with extremely low 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:

Real Estate Market Chart by Altos Research

Pricing was at a high since around the start of 2018 but finally dropped for the first time at the tail end of 2019. The median’s plummeted recently, so we’re currently seeing median pricing for condos on the low end of 2019 numbers, or mid-2020.

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

Real Estate Market Chart by Altos Research

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

Doerr Park of Willow Glen

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

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