San Jose, CA Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Are housing prices going down in San Jose? ›

More Demand for Fewer Homes in San Jose, CA

Likewise, the average sales price per square foot is $731, which is down 7.4 percent. San Jose home prices went down by 6.3 percent in January 2023 compared to last year, so they sold for a median price of about $1.1 million.

Anyone looking to own a home in San Jose will need to earn an income of $454,296 to comfortably afford a mortgage, according to a new Zillow analysis.

Based on data from Homeowner Experience Real Estate, the San Jose housing market is expected to see a shift in 2024 from the low inventory and high interest rate market of 2023. Our predictions expect a 6-8% increase in home values in 2024 but these results teeter on interest rates and the San Jose housing inventory.

In terms of listing sources, Zillow offers a broader variety of FSBO options, while Realtor.com ensures data accuracy with its focus on licensed agents, impacting potential buyer reach for each platform.

California's median home price is forecast to climb 6.2 percent to $860,300 in 2024, following a projected 1.5 percent decrease to $810,000 in 2023 from 2022's $822,300.

In the San Francisco and San Jose metropolitan areas, the typical home value dipped by about 12% from June 2022 to April 2023. But San Jose's home values are gaining again — the metro recorded a 9% bump from March 2023 to March 2024.

A recent analysis from ConsumerAffairs reveals that San Francisco residents need a minimum salary of $131,050, while San Jose residents must earn at least $124,292, and Fremont residents require $117,339. In Oakland, the minimum salary needed for comfortable living is $99,334.

Household income needed to be considered rich, on average, among selected U.S. metro areas. San Jose metro had the highest average income needed at $863,000, with San Francisco at $703,000.

According to the updated guidelines, a single person earning less than $122,500 in San Francisco County and $126,900 in Santa Clara County (San Jose) is now considered to have low income.

San Jose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Is it worth it to move to San Jose? ›

If you've always wanted to live in a thriving city with plenty of job opportunities, amazing weather, and lots of cultural events, then moving to San Jose might be the right decision for you. Known as the Capital of Silicon Valley, San Jose is ranked as the 2nd happiest city in the U.S. — and for good reason.

San Jose, CA housing market

In May 2024, the median listing home price in San Jose, CA was $1.3M, trending up 3.8% year-over-year. The median listing home price per square foot was $832. The median home sold price was $1.4M.

Since many input sources go into each calculation, property value estimates can vary from one source to the next. Although no automated model is 100 percent accurate, viewing data from multiple sources gives you a more complete picture of a home's potential value.

Realtor.com is arguably the most accurate real estate listing platform today. It is affiliated with over 580 regularly updated MLS databases across the U.S. Realtor.com also operates in more regions than Zillow and Redfin simply because it's been around for longer, that is since 1996.

The median sale price of a home in Santa Clara County was $1.7M last month, up 11.6% since last. The median sale price per square foot in Santa Clara County is $1.01K, up 9.5% since last year.…

Rent prices for all bedroom counts and property types in San Jose, CA have increased by 11% in the last month and have decreased by 4% in the last year.

San Jose, California is the second most expensive city to live in in America - with a cost of living index score of 171.3. With an estimated population of around 1 million, prices in the West Coast city are driven up by a high demand for housing. The median rental price in San Jose is $3,000 according to Zillow.