Top Agents in San Jose, California – Individuals By Sides

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2023 San Jose, California Housing Market Summary

San Jose, California started 2023 with a total of 204 single-family homes on the market, with a median home price of $1,500,000 and an average price per square foot of $936. By the end of the year, inventory had decreased to 163 homes on the market (-20%), with a median home price of $1,500,000 (+0%) and an average price per square foot of $931 (+0%).

At the start of 2023, the median days on market (DOM) was 56 days – by the end of the year, median DOM had remained the same at 56 days.

San Jose started the year with 36% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 20% of San Jose homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that San Jose started 2023 as a strong seller’s market, with an MAI score of 53; by the end of the year, the MAI had rose to 66 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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