Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
Yes, if you negotiate. Buyers have the upper hand in San Jose right now.
You have the upper hand in San Jose. Most homes for sale still have no buyer. Sellers are competing for you. Use it.
Only 44 out of every 100 homes for sale have found a buyer. The other 56 are still waiting. Your offer may be the only one on the table. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing, not from the whole market.
A typical San Jose home takes 36 days to find a buyer. Half of them take even longer. That is 9% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 1,068 homes for sale in San Jose. That is 6.1 times the tightest month on record, but below the peak of 1,109. Supply is growing against last year.
Asking prices are 10.1% below their Apr 2023 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. San Jose prices rose in only 71 of the last 108 months. This market goes up and down. Timing matters here. Growth will not rescue a bad price.
There is no rush. Prices are still coming down. Watch the homes you like. Come back after they cut. Let the seller move first.
Yes, if you negotiate. Buyers have the upper hand in San Jose right now. 0.44 out of every 100 homes for sale have a buyer, 17% of sellers have cut their price, and a typical home takes 36 days to sell.
Asking prices are 10.1% below their Apr 2023 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.
+2.1%/yr. 1 year: -2.4% · 5 years: +2.1% · ten years: +4.2%. Do not use the ten-year rate. Most of that growth landed in the 2020 and 2021 boom. The five-year rate is what San Jose does without one. Underwrite closer to +2.1%. Measure growth per square foot. San Jose median list price grew 2.9% a year, but price per square foot grew 4.2%. The gap is smaller homes, not weaker growth. The house you buy will not shrink. The one-year rate is a timing signal. It is not an underwriting input.
A typical San Jose home takes 36 days to find a buyer. Half of them take even longer. That is 9% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.
95135. Only 17 out of 100 homes there have a buyer, 31% have cut their price, and a typical home takes 57 days to sell.
Where it isn't: 95121 ranks #2,392 in the country for buyer demand. Expect the least room to negotiate there.
ZIP 95116 is on both lists. That is rare. It is the one place in San Jose where leverage and growth overlap.
| ZIP | $/sqft, 2 yrs | $/sqft now | Buyers per home | For sale |
|---|---|---|---|---|
| 95127 | +5.1% | $762 | 0.54 | 46 |
| 95116 | +4.7% | $691 | 0.28 | 41 |
| 95123 | +4.4% | $752 | 0.53 | 92 |
| 95121 | +4.0% | $859 | 0.62 | 20 |
| 95132 | +3.9% | $981 | 0.55 | 28 |
Computed from each ZIP's own ten-year history. ZIPs with fewer than 10 homes for sale are excluded: a median across a handful of listings is noise, not a signal.
Closest matches on asking price, price per square foot, days to sell, buyer demand, and price cuts.
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