San Jose Housing Market: Trends & Prices

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    San Jose Real Estate Market Overview

    (Last Updated – 06/2020)

    There is a lot to love about San Jose. Let’s start with the obvious, that sunny weather California is famous for. While Southern California natives may find San Jose’s northern locale to be on the chillier side, the rest of the country probably doesn’t agree.

    On average, San Jose has 257 sunny days, 0 inches of snow, and 17 inches of rain a year. Comparatively, the US average for these fun weather facts is 205 days of sun, 28 inches of snow, and 38 inches of rain per year.

    Aside from their great weather, San Jose is also known for residing in the heart of Silicon Valley—some might even call it the capital. In some ways, this is an asset to San Jose. There is an energetic and innovative feel to the city, as well as ample career opportunities.

    But the rise of Silicon Valley has also contributed to the rise of the San Jose average house price in recent years. San Jose’s cost of living is one of the highest across the entire nation.

    Don’t let the prices scare you off, San Jose has a lot to offer and is a lovely place to live. But before you make any big decisions, keep reading to learn more about the San Jose housing market forecast, housing prices, and neighborhood demographics.

    $1.05 million

    Avg. Home Price

    $676

    Avg. Price Per Sq. Ft

    11 days

    Avg. Time on Market

    San Jose Housing Market Forecast

    If San Jose house prices are leaving you with sticker shock, there’s good reason. In the past year, the San Jose median home price went up 2.6%. But don’t worry, it’s not all bad news.

    The home prices in San Jose are expected to fall by 0.7% within the next year.

    Housing market forecast chart

    *Graph taken from Zillow as of 06/2020

    Demographics of the San Jose Market

    There are dozens of distinct neighborhoods across San Jose’s 176.5 square miles, all of which have their own unique benefits and charm

    We’ll dive into the demographics of a few particular neighborhoods. But first, you might want to review some overarching San Jose housing market demographics.

    Median Income: $113,036

    Median Age: 37

    College Educated: 43%

    Homeowners: 55.3%

    Married: 52%

    Willow Glen

    Locals will love the summers in Willow Glen, as there is a fantastic annual festival to look forward to every summer.

    Stop by to dance, taste local foods and wines, and have some good old family fun! The rest of the year, they can enjoy taking the family for strolls down tree-lined streets and for brunch at charming sidewalk cafes.

    Quick Facts

    Population:

    65,028

    Median Age:

    36.2

    Housing Units:

    26,355

    Bike Score:

    70

    Walk Score:

    54

    Transit Score:

    41

    Average Household Income:

    $141,349

    Willow Glen Housing Market

    Get ready to move quickly if you’re looking to find the right home in Willow Glen. Most homes only stay on the market for around 12 days.

    Really popular homes typically only last seven days, so you’ll need to be ready to make an offer if you find a home you love. You also need to be prepared to spend, as homes for sale in Willow Glen usually sell for 4 to 9% above their list price.


    Average Home Price

    $1.15 million

    Average Price Per Sqare Ft.

    $766


    Silver Creek

    If you’re still debating whether or not to buy a home in Silver Creek, why not take a nice long stroll down the Silver Creek Valley Trail while you ponder your options?

    This paved trail along the creek and neighborhoods of Silver Creek offers miles of stunning views for hikers and cyclists.

    Families will love spending their weekends enjoying the fresh air and nature that Silver Creek has to offer.

    Quick Facts

    Population:

    20,766

    Median Age:

    39.4

    Housing Units:

    20,766

    Bike Score:

    27

    Walk Score:

    10

    Transit Score:

    16

    Average Household Income:

    $221,429

    Silver Creek Housing Market

    Like many neighborhoods in San Jose, the Silver Creek housing market is a competitive one. Homebuyers should expect most homes for sale to receive multiple offers and to sell around list price.

    That being said, Silver Creek houses typically sell in around 38 days which is significantly longer than homes in neighborhoods like Downtown and Almaden stay on the market.


    Average Home Price

    $1.84 million

    Average Price Per Square Ft.

    $587


    Almaden Valley

    For families, the shining star of Almaden, is the Almaden Community Center. Their state-of-the-art facilities host athletic programs, events, arts and crafts, and summer camps for children.

    They even offer computer classes, which feels on-brand for San Jose. When residents are done hanging out at the community center, they can pop by one of the local parks like Almaden Lake Park or Parma Park.

    Quick Facts

    Population:

    37,774

    Median Age:

    45.5

    Housing Units:

    12,760

    Bike Score:

    71

    Walk Score:

    63

    Transit Score:

    45

    Average Household Income:

    $217,091

    Almaden Valley Housing Market

    While the housing prices aren’t on the low end in Almaden, the good news is that most homes in this neighborhood do sell slightly below their list price.

    Almaden homes only stay on the market around 19 days though, so despite high prices, the homes are in-demand.


    Average Home Price

    $1.59 million

    Average Price Per Square Ft.

    $496


    Downtown

    If you like to keep busy, then Downtown San Jose may just be the perfect neighborhood for you. Even though Downtown is located four miles from the Mineta San Jose International Airport, you don’t need to leave town to have a good time.

    From museums to nightlife and more than 250 multicultural restaurants to choose from, there are plenty of exciting ways to spend your days in Downtown.

    Quick Facts

    Population:

    76,515

    Median Age:

    33

    Housing Units:

    27,656

    Bike Score:

    90

    Walk Score:

    77

    Transit Score:

    62

    Average Household Income:

    $105,317

    Downtown Housing Market

    The Downtown San Jose housing market is a very competitive one. Many of the homes for sale receive multiple offers, so get ready to bid if you find your dream home in this neighborhood.

    You should also be prepared to pay around 1.6% above the home’s listing price and know that most homes in this area sell in about 15 days.


    Average Home Price

    $843,000

    Average Price Per Square Ft.

    $653


    Cambrian Park

    Also known as just Cambrian, Cambrian Park is a family-friendly suburban community that has plenty of charm thanks to its quiet tree-lined streets, farmers markets, and shopping centers.

    Previously Cambrian Park was home to orchards, but is now the perfect spot for busy Silicon Valley tech workers to raise their families.

    Quick Facts

    Population:

    79,314

    Median Age:

    39

    Housing Units:

    27,638

    Bike Score:

    68

    Walk Score:

    67

    Transit Score:

    38

    Average Household Income:

    $158,105

    Cambrian Park Housing Market

    Cambrian Park has one of the most competitive housing markets in San Jose. Most homes in this area receive multiple offers and sell in around nine days for 6% above their list price.

    The more in-demand homes are even more competitive to get your hands on. Popular homes can sell for around 12% above list price after six days on the market.


    Average Home Price

    $1.35 million

    Average Price Per Square Ft.

    $797



    SoFi Home Loans

    It’s easy to see why San Jose has become such a popular market to buy a home in. There are some really amazing neighborhoods to choose from whether you’re young and single or have a family to look after.

    If you think San Jose could be your home sweet home, then you may need to consider your home loan options.

    If you’re buying a home or refinancing an existing mortgage, SoFi can help you make the process as quick and painless as possible.

    Learn more


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