San Jose Housing Market

By Nigel Hughes

San Jose median price decreases year over year

San Jose recorded a February median sale price of $1,567,500, down 0.7% from a year earlier.

San Jose sale‑price trends show mixed movement across segments

San Jose experienced a slight year‑over‑year decline in its overall median sale price, ranking first nationally despite the decrease. Detached home values held steady, while attached and condo prices decreased at faster rates. This reflected a mixed environment for sellers, marked by relative strength at the high end and softness in lower‑priced segments.

San Jose active‑listing growth remains modest

San Jose recorded modest year‑over‑year growth in active listings, ranking near the bottom of major U.S. markets. Listing increases were broad but small across property types, with attached homes seeing the strongest rise and condos the smallest.

San Jose home‑sales growth outperforms national and regional trends

San Jose recorded strong gains in home sales compared with last year, far outpacing the national decline. Detached and attached sales rose sharply, while condo sales softened. Compared with other California markets, San Jose was among the strongest performers in annual sales growth.


Bar chart comparing February year‑over‑year home sales changes across major U.S. cities, with San Jose at +8.7% amid a wide national range from +13% to −15%.
San Jose ranks among U.S. markets posting solid year‑over‑year February sales growth, outpacing many coastal metros.


San Jose Sale Prices

San Jose’s median sale price fell by 0.7% from a year earlier. However, the market remained the most expensive of the top 40 U.S. metros.

San Jose median sale price decreases year over year

San Jose recorded a median sale price of $1,567,500 in February, which decreased 0.7% from a year earlier. This represented a year-over-year decline of $11,500.

San Jose median price remains highest among major US markets

San Jose recorded a median sale price of $1,567,500, down 0.7% year over year. This price was the highest among the top 40 U.S. markets, ranking first nationally and well above the U.S. median of $375,885, which increased 0.2% year over year. San Jose’s annual decline compared with decreases in other California markets, including Sacramento, Los Angeles, and San Diego, which also experienced year‑over‑year reductions.

San Jose sale prices vary significantly by property type

San Jose recorded a median detached sale price of $1,900,000, which was unchanged year over year. Attached homes recorded a median price of $1,250,000, which decreased 5.3% year over year, while condos recorded a median sale price of $730,000, down 11.5% from a year earlier.

 


Indicator chart showing median sale price $1,567,500 (−0.7% YoY), compared to the U.S. median of $375,885 (+0.2%).
San Jose remains the nation’s most expensive market, though prices dipped slightly year over year.


Bar chart showing sale prices from 2018–2026, rising steadily through 2022, then flattening slightly but remaining above $1.4M.
San Jose home prices remain elevated despite recent cooling, consistently exceeding $1.5M through 2026.


Area chart tracking annual percent price changes from 2018–2026, including a sharp spike during 2021 and declines in later years.
Annual price growth remains subdued heading into 2026, following years of dramatic surges and corrections.


Bar chart showing percent change in February prices from 2018–2026, ranging from +34.1% to −14%, ending at −0.7%.
San Jose’s February home‑price movement remains near flat after multiple years of steep swings.


Bar chart ranking U.S. metros by February sale price, led by San Jose ($1.57M), followed by San Francisco ($1.53M), with most metros far lower.
San Jose tops all major metros in February sale prices, holding the highest median in the country.


Bar chart showing February price changes across U.S. metros, with San Jose at −0.7% amid a national range from +8% to −4%.
San Jose and several major metros experienced mild price declines in February, bucking the broader trend of modest national gains.


Three‑panel chart listing sale prices and annual changes, including dollar‑value growth (0 for detached, −$70k attached, −$95k condos).
Price stabilization in detached homes contrasts with sharper declines in attached and condo segments.


Bar chart showing prices for detached ($1.9M), attached ($1.25M), and condos ($730k), paired with annual changes of 0%, −5.3%, and −11.5%.
Detached home prices hold steady above $1.9M, while attached and condo prices show meaningful annual declines.


San Jose Inventory

San Jose reported 2,493 active listings in February, representing a 5.6% increase year over year. This rise showed that inventory levels continued to expand, giving buyers more options than they had during the same period a year earlier.

San Jose active listings increase year over year

San Jose recorded 2,493 active listings in February, an increase of 5.6% from a year earlier. This represented 132 more listings than last year.

San Jose active listings grow but lag US supply levels

San Jose recorded 2,493 active listings, up 5.6% year over year. The increase was lower than the U.S. as a whole, which saw a 14.2% increase. Moreover, San Jose ranked 29th among the top 40 U.S. markets. Still, the annual increase in listings in San Jose was higher than changes in other California markets such as Los Angeles and San Diego, which saw smaller increases, or in San Francisco, where the active inventory declined.

San Jose listing growth varies across property types

San Jose recorded 1,528 active single-family listings, up 3.7% year over year. Attached listings totaled 442, increasing 5.0%, while condo listings reached 523, increasing 1.6% compared with last year.

 


Indicator chart showing 2,493 active listings, a 5.6% annual rise, contrasted with a 14.2% national increase. Rankings indicate San Jose remains supply‑constrained.
Active listings in San Jose increased modestly, signaling gradually improving inventory conditions for buyers.


Bar chart showing active listings from 2018–2026, with a rise from near 2,000 to roughly 2,500 toward 2026.
San Jose inventory continues to rebuild, climbing gradually from pandemic lows toward more balanced levels.


Area graph of annual percentage change in active listings from 2018–2026, showing large fluctuations including negative periods during pandemic years.
Annual inventory growth in San Jose shows wide swings but trends upward into 2026.


Bar chart depicting year‑over‑year February listing changes from 2018–2026, ranging from +40.9% to −21.2%, ending at +5.6%.
San Jose’s February listing growth continues its gradual rebound after several years of deep declines.


Bar chart showing February listings volumes, with San Jose at 2,493 versus 30,000–40,000 in major Texas and Georgia metros.
San Jose remains one of the tightest inventory markets nationwide, with far fewer active listings than major metros.


Bar chart comparing February listing growth across U.S. metros, with San Jose at +5.6% amid a national spread from +25% to −5%.
San Jose posts moderate February inventory growth, landing mid‑range among rapidly expanding U.S. markets.


Three‑panel chart listing totals and annual growth for detached, attached, and condo listings, including unit changes (55, 21, and 8).
Inventory growth is strongest in attached homes, reflecting subtle shifts in buyer preferences and supply.


Bar chart showing detached (1,528), attached (442), and condo (523) active listings, with annual changes of 3.7%, 5.0%, and 1.6% respectively.
Detached homes make up the bulk of San Jose’s inventory, with each property type seeing slight year‑over‑year improvement.


San Jose Home Sales

San Jose registered 798 total home sales in February, representing solid year‑over‑year growth across the market. The metro’s sales volume rose meaningfully as buyer activity increased from a year prior.

San Jose home sales increase year over year

San Jose recorded 798 home sales in February, which increased 8.7% from a year earlier. This represented 64 more sales than the previous year.

San Jose home‑sales growth exceeds national trend                                                                                                                                                                            

San Jose recorded 798 home sales, up 8.7% year over year. This performance contrasted with the U.S. average, which decreased 3.7% year over year. San Jose ranked fourth among the top 40 U.S. markets for annual home‑sales growth. San Jose’s home sales growth contrasted with most other California markets, such as Los Angeles and San Diego, where home sales declined. Only San Francisco saw a similar jump in activity.

San Jose home sales trends differ by property type

San Jose recorded 540 detached sales, up 10.4% year over year. Attached homes recorded 141 sales, increasing 11.0%, while condo sales totaled 117, which decreased 0.8% from a year earlier.


Dashboard-style chart showing San Jose sales (798), annual change (+8.7%, +64 units), and national comparisons (U.S. –3.7%). Includes national rankings for volume and growth.
San Jose posts an 8.7% annual increase in sales, ranking 4th in national growth despite its comparatively small transaction volume.


Bar chart showing San Jose home sales from 2018–2026, illustrating large swings during 2020–2022 and leveling off near 1,000 sales in the most recent years.
Home sales in San Jose remain elevated in 2026, with activity stabilizing after several years of strong fluctuations.


Area chart tracking annual percent change in home sales from 2018–2026, highlighting dramatic pandemic‑era spikes and declines before stabilizing.
Long‑term annual home‑sales growth in San Jose remains mixed but shows improved momentum heading into 2026.


Bar chart showing San Jose’s February home sales percentage changes from 2018–2026, with swings ranging from +34.6% to −39%, ending at +8.7%.
Despite recent volatility, San Jose posts positive 2026 February sales growth above several preceding years.


Bar chart ranking U.S. metros by February home sales volume, placing San Jose at 798, well below large markets like Dallas and Houston (5,000+).
San Jose’s February sales total remains modest relative to larger metros, though demand remains solid locally.


Vertical bar chart comparing February year‑over‑year home sales changes across major U.S. cities, with San Jose at +8.7% amid a wide national range from +13% to −15%.
San Jose ranks among U.S. markets posting solid year‑over‑year February sales growth, outpacing many coastal metros.


Three‑column indicator chart showing detached, attached, and condo home sales with respective annual growth rates (10.4%, 11%, and −0.8%) and unit changes.
San Jose’s strongest growth continues in detached and attached homes, while condo sales remain flat year over year.


Bar chart comparing sales counts for detached (540), attached (141), and condo (117) homes, paired with annual percent change bars showing detached +10.4%, attached +11%, and condo −0.8%.
Detached homes dominate San Jose’s sales activity, with attached and condo units showing steadier year‑over‑year trends.


For questions and commentary about this report:

Nigel Hughes, Senior Director of Market Analytics at CoStar and Homes.com, based in San Francisco, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Nigel Hughes

Senior Director, Market Analytics

Homes.com

nhughes@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in San Jose during February 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

 About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

 

Writer
Nigel Hughes

Nigel Hughes is the Senior Director of Market Analytics at CoStar and Homes.com, where he leads analysis of commercial and residential real estate across the San Francisco Bay Area. He produces data-driven reports and news coverage on leasing, investment, construction, and property performance across all major asset classes, and tracks trends in home prices, rents, supply, and demand. With a degree in economics from Middlesex University and more than two decades of experience in real estate research and consulting in the United States, the United Kingdom, and Australia, he advises investors, developers, and corporate occupiers on market conditions, capital deployment, and portfolio strategy.

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