Real Estate Market Report - San Jose, CA (Feb, 2024)

The median sale/list price for the given time period ranges from $1,025,000 to $1,251,000, with the peak occurring in June and July and a dip in November and December.

The median sale price per square foot increases steadily from $687.5 in February 2023 to $761.403 in December 2023, with a peak of $771.486 in July 2023. However, there is a slight dip in August 2023 to $732.137 before rising again.

The median sale price to list price ratio remains steady at 1.0 in February and March of 2023, but begins to increase slightly in April and May, reaching 1.017 in May. The ratio continues to climb in the following months, peaking at 1.029 in June, before tapering off slightly in the later months of the year. Overall, the data suggests that sellers may have slightly more bargaining power in the middle of the year, but buyers may have more leverage in the later months.

The data shows the number of properties sold/listed each month from February 2023 to December 2023, with a peak of 717 in May 2023 and a steady decrease to 417 in December 2023. Overall, the data indicates a relatively consistent level of activity in the real estate market throughout the year.

The median days on market fluctuated throughout 2023, ranging from a low of 39 days in March and November, to a high of 45 days in October and December. Overall, houses stayed on the market for an average of around 42-43 days during the summer months.