More homes for sale give San Jose buyers a break, but competition isn't gone
House hunters in San Jose got a bit of welcome news in June as more homes hit the market, and prices eased compared with a year ago, giving buyers more choices in one of the nation's most expensive housing markets. But anyone hoping for a dramatic slowdown may be disappointed: homes are still selling quickly, and sellers continue to hold the upper hand in many neighborhoods.
Buyers keep shopping despite economic uncertainty
Even with ongoing layoffs across parts of the tech industry, buyers largely stayed active this spring. Home sales were nearly unchanged from a year ago, a sign that many households remain willing to buy despite concerns about the economy. Strong local incomes and Silicon Valley's role as a technology hub continue to support housing demand.
More listings mean more options
The biggest change for buyers was selection. The number of homes for sale increased from a year earlier, giving shoppers more options to consider and a little more breathing room than they had during the frenzied market of recent years.
Still, competition hasn't disappeared. Homes sold in about 40 days on average, far faster than the national pace of 55 days, and attractive properties in desirable neighborhoods continued to draw strong interest.
Prices ease, but affordability remains a challenge
The median home price fell 4.6% from a year ago to $1.62 million, offering a rare bit of relief for buyers. Even so, San Jose remains one of the most expensive housing markets in the country, with home prices far above the U.S. median.
The bottom line: buyers have more choices and slightly more leverage than they did a year ago, but affordability remains a major hurdle. Sellers may no longer have quite as much pricing power, yet well-priced homes are still finding buyers quickly in the heart of Silicon Valley.
San Jose Prices
The median home sale price in San Jose decreased by 4.6% compared to the same time last year, while the national median price rose by 1.5%.
San Jose ranks 40th for annual median home sale price change among the top 40 US markets
San Jose median home prices decreased by $78,500 year over year on a nominal basis in June to $1,619,000. Meanwhile, the national median home price increased by $6,000 to $401,000.
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 $1,619,000 was 303.7% above the national median home price. San Jose's median home price in June compares to the market's peak of $1,700,000 recorded in May of 2025.
San Jose single-family prices decrease
The median price of San Jose single-family homes fell by $125,000 over the past year to $1,867,500, while the median townhome price declined by 8.5%, and the median condo price fell by 4.3%.
San Jose Inventory
The number of homes for sale in San Jose increased by 3.9% in June compared to the same time last year, while national homes for sale rose by 4.2%.
San Jose's inventory of homes for sale increases
San Jose homes for sale rose by 125 year over year in June to 3,370 homes for sale. San Jose ranked 21st, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in June.
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 May. San Jose homes for sale were 13.3% below the June 2019 total of 3,887.
San Jose single-family inventory decreases
San Jose single-family homes for sale decreased by 1.9% to 2,061 in June. In comparison, townhomes for sale rose by 16.7% to 363, and condos for sale increased by 13.6% to 946.
San Jose Home Sales
The number of home sales in San Jose decreased by 1.0% in June compared to the same time last year, while national home sales rose by 6.1%.
San Jose home sales decrease
San Jose home sales declined by 12 year over year on a nominal basis in June to 1,172. For context, 1,184 sales closed in San Jose in June 2025.
San Jose's annual home sales activity change ranks 37th nationally
San Jose ranked 37th for the annual change in home sales out of the top 40 U.S. markets in June on a percentage basis. This year's June decrease of 1.0% compares to the 1.0% year over year decrease in June 2025.
Single-family sales in San Jose are lower than a year ago
San Jose single-family sales decreased by 1.0% in June to 867. In comparison, townhome sales rose by 2.2% to 94, and condo sales fell by 2.3% to 211.
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 June 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.