San Jose homebuyers are getting more choices as prices cool
Finding a home in San Jose is still expensive, but buyers are starting to catch a break. More homes hit the market in July, giving shoppers additional options and a little more time to make decisions, while home prices were slightly lower than a year ago.
Buyers are still active, even as the job market softens
A total of 1,052 homes sold in San Jose in July, nearly unchanged from the same month last year. Sales of condos and townhomes increased modestly, helping keep overall activity steady.
That stability comes amid a period of job market volatility, with layoffs increasing in recent months across Silicon Valley’s tech economy. Nevertheless, buyers continue to show interest in the market, particularly for lower-priced alternatives to single-family homes.
More homes on the market means less pressure
San Jose had 3,177 homes for sale in July, a modest increase from a year earlier. Most of that growth came from condos and townhomes, which saw significantly more listings than last summer.
For buyers, that's good news. More inventory means more opportunities to compare homes, rather than rushing into a purchase. Homes also took slightly longer to sell, spending a median of 42 days on the market, up from 41 days a year ago.
The market remains competitive, but the pace isn't as intense as it was during the height of the housing frenzy.
View the latest homes for sale in San Jose.
Prices remain high, but some buyers may see an opening
The median home sold for $1.55 million in July, down 3.3% from a year earlier. Even with that decline, San Jose remains one of the most expensive housing markets in the country.
Price changes varied by property type. Single-family homes posted a modest increase in value, while townhomes and condos became more affordable compared with last year.
San Jose is still a challenging market for many households, but conditions are becoming slightly more favorable for buyers. More inventory and softer pricing give shoppers additional leverage and more time to evaluate their options. Sellers can still expect strong interest, but pricing a home correctly is becoming increasingly important as buyers gain more choices.
San Jose Prices
The median home sale price in San Jose decreased by 3.3% compared to the same time last year, while the national median price rose by 2.6%.
San Jose ranks 38th for annual median home sale price change among the top 40 US markets
San Jose median home prices decreased by $52,500 year over year on a nominal basis in July to $1,547,500. Meanwhile, the national median home price increased by $10,000 to $400,000.
San Jose's median home sale price is above the nation’s
San Jose was the second highest-priced housing market among the top 40 largest markets last month. The San Jose median home price of $1,547,500 was 286.9% above the national median home price. San Jose's median home price in July compares to the market's peak of $1,700,000 recorded in May of 2025.
San Jose single-family prices increase
The median price of San Jose single-family homes rose by $10,000 over the past year to $1,850,000, while the median townhome price declined by 1.9%, and the median condo price fell by 8.1%.
San Jose Inventory
The number of homes for sale in San Jose increased by 2.4% in June compared to the same time last year, while national homes for sale rose by 4.4%.
San Jose's inventory of homes for sale increases
San Jose homes for sale rose by 74 year over year in July to 3,177 homes for sale. San Jose ranked 23rd, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.
San Jose homes for sale are below their pre-pandemic levels
San Jose homes for sale were below their pre-pandemic levels in the month of July. San Jose homes for sale were 16.1% below the July 2019 total of 3,787.
San Jose single-family inventory decreases
San Jose single-family homes for sale decreased by 3.5% to 1,904 in July. In comparison, townhomes for sale rose by 18.6% to 338, and condos for sale increased by 10.8% to 935.
San Jose Home Sales
The number of home sales in San Jose decreased by 0.1% in July compared to the same time last year, while national home sales rose by 2.9%.
San Jose home sales decrease
San Jose home sales declined by 1 year over year on a nominal basis in July to 1,052. For context, 1,053 sales closed in San Jose in July 2025.
San Jose's annual home sales activity change ranks 27th nationally
San Jose ranked 27th for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July decrease of 0.1% compares to the 9.2% year over year decrease in July 2025.
Single-family sales in San Jose are lower than a year ago
San Jose single-family sales decreased by 1.4% in July to 751. In comparison, townhome sales rose by 1.1% to 93, and condo sales rose by 4.5% to 208.
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 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 July 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.
Definition of Days on Market
The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
Definition of Months of Supply (MOS)
Months of Supply (MOS) is equal to active listings divided by homes sold in a given 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 Sale to List Price Ratio
The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred 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.