San Jose Real Estate Trends & Breakdown
Date: 10 March, 2025 Published by: Bay Area Housing Trends
Following up on requests I’ve had, this post focuses only on single-family homes in San Jose. Since San Jose is such a large city with many distinct areas, I’ve broken down the data so different parts of the city can be compared.
Key Observations:
Sales Volume Trends
- The highest sales volume was in 2022, with over 4,000 single-family homes sold.
- In 2023, sales dipped by about 21%, reflecting a slower market—likely due to higher interest rates, affordability concerns, and economic uncertainty.
- 2024 saw a strong recovery, with sales rebounding to 3,757 homes—a sign of renewed buyer activity, though still slightly below the 2022 peak.
Where Buyers Are Moving To
- Over the past three years, Blossom Valley, Cambrian, and Willow Glen have been the most sought-after areas in San Jose.
- While Cambrian led in 2022 and 2023, Blossom Valley took the top spot in 2024 with 559 sales.
- Willow Glen has consistently remained in the top three, showing its ongoing desirability among homebuyers.
- These areas continue to attract buyers due to their mix of great schools, family-friendly neighborhoods, and proximity to tech job centers.
Cash Buyer Trends
- The percentage of cash buyers has remained stable between 12-13% across all three years.
- This suggests a consistent presence of investors, downsizing homeowners, and high-net-worth buyers in the market.
- Even with fluctuations in mortgage rates, cash purchases haven’t decreased, indicating that well-funded buyers remain active.
For more details and area-specific insights, check out the accompanying table.
