San Jose Market Report
Single family homes are clearing in 12 days at 103 percent of list. Condos are sitting for 27. Same city, two completely different markets. Here is what the June closings actually show.
The Read
Two markets wearing one zip code.
San Jose single family homes closed at a median of $1,668,000 in June. That is down 1.9 percent from last year, which sounds soft until you look at how fast they moved. Median days on market was 12. Sale to list ratio was 103 percent. Months of inventory sat at 1.3. That is not a cooling market. That is a market with almost nothing to buy.
Condos and townhomes told a different story in the same month. Median sale price of $730,000, median days on market of 27, and 448 active listings against 145 closed sales. Countywide, condo inventory rose 6.9 percent year over year while single family inventory fell 11 percent. Attached product is where the buyer leverage is right now, and almost nobody is talking about it.
The wider county number will confuse you if you only read headlines. Santa Clara County single family median fell 9.3 percent year over year in June while San Jose city fell only 1.9 percent. That gap is mix, not collapse. Fewer high end closings in the county’s premium cities pulled the countywide median down. San Jose itself barely moved.
What this means if you are selling
A well prepared single family home is still clearing above list in under two weeks. Pricing at the number instead of above it is what produces the 103 percent, not the other way around. Overpricing in a 1.3 month inventory market still gets punished, because the buyers who are active are the ones who have been watching every listing for months.
What this means if you are buying
Single family requires you to be fully underwritten and ready to move in days, not weeks. Condos and townhomes are the opposite. Twenty seven days of median market time and rising inventory means you can negotiate, ask for credits, and take a second look. If your must haves are square footage and location rather than a detached lot, attached product is meaningfully cheaper to buy right now.
June 2026 Closed Data
The San Jose housing market by the numbers
Single Family Homes
| Metric | June 2026 |
|---|---|
| Median sale price | $1,668,000 down 1.9% YoY |
| Average sale price | $1,829,924 |
| Median price per square foot | $989 |
| Closed sales | 425 |
| Pending sales | 234 |
| New listings | 434 |
| Active listings | 505 |
| Median days on market | 12 |
| Average days on market | 20 |
| Sale to list ratio | 103% |
| Months of inventory | 1.3 |
Condos and Townhomes
| Metric | June 2026 |
|---|---|
| Median sale price | $730,000 |
| Average sale price | $793,028 |
| Median price per square foot | $635 |
| Closed sales | 145 |
| Pending sales | 81 |
| New listings | 227 |
| Active listings | 448 |
| Median days on market | 27 |
| Average days on market | 37 |
Santa Clara County Context
| Metric | June 2026 |
|---|---|
| Single family median, YoY | down 9.3% |
| Single family average sale price | $2,509,320 down 1.4% YoY |
| Single family closed sales | 738 down 1.2% YoY |
| Single family sale to list ratio | 103.3%, down from 104.6% |
| Single family inventory | 900 active as of July 5, down 11% YoY |
| Single family days of inventory | 35, down from 43 |
| Condo inventory | 733 active as of July 5, up 6.9% YoY |
| Condo sale to list ratio | 100.3%, down from 101.2% |
Financing
Where rates actually are.
The Freddie Mac 30 year fixed averaged 6.58 percent for the week ending July 23, 2026. That is up from 6.55 percent the week prior and down from 6.74 percent a year ago. The 15 year fixed averaged 5.96 percent.
Rates have moved inside a narrow band since mid May. Anyone waiting for a meaningful drop before they buy has now been waiting for two months while single family inventory fell 11 percent. In a 1.3 month inventory market, waiting for a quarter point costs more in competition than it saves in payment.
The payment math
- At the $1,668,000 San Jose single family median with 20 percent down, you are financing $1,334,400
- That exceeds the conforming limit, so most San Jose buyers are in jumbo territory
- Jumbo pricing and qualification differ meaningfully from the Freddie Mac headline number
- Get a real quote before you set a search range
Where I add value here
- Crypto backed and asset based structures for buyers whose wealth is not in W2 income
- DSCR structures for investors buying attached product while it is soft
- Offer structuring that protects your net, not just the headline price
- Two markets covered, so Sacramento is a live comparison and not a guess
Questions
San Jose market questions, answered.
What is the median home price in San Jose right now?
The median sale price for a single family home in San Jose was $1,668,000 in June 2026, down 1.9 percent year over year. Condos and townhomes had a median sale price of $730,000. Source: MLSListings closed sales, June 2026.
Is San Jose a buyer’s or seller’s market in July 2026?
It depends entirely on property type. Single family is a seller’s market with 1.3 months of inventory, 12 median days on market, and a 103 percent sale to list ratio. Condos and townhomes are far more balanced, with 27 median days on market and inventory up 6.9 percent countywide year over year.
How long do homes take to sell in San Jose?
Single family homes had a median of 12 days on market in June 2026 and an average of 20 days. Condos and townhomes had a median of 27 days and an average of 37 days.
Are San Jose home prices going down?
The San Jose single family median was down 1.9 percent year over year in June 2026. Santa Clara County as a whole was down 9.3 percent, but that gap reflects fewer high end closings in the county’s premium cities rather than a broad decline. San Jose itself is roughly flat.
What are mortgage rates in San Jose today?
The Freddie Mac 30 year fixed rate averaged 6.58 percent for the week ending July 23, 2026, and the 15 year fixed averaged 5.96 percent. Most San Jose buyers at the median price point are in jumbo loan territory, where pricing differs from that national average.
How much house does $1.5 million buy in San Jose?
At the June 2026 median price per square foot of $989 for single family homes, $1.5 million buys roughly 1,500 square feet. Condos and townhomes at $635 per square foot buy closer to 2,400 square feet at that budget. Neighborhood variation inside San Jose is significant.
Rami Tannous
Bay Area and Sacramento. Twelve years running a multi location retail business before real estate, which is why offers get structured around your net instead of the headline number. Recent: 1211 Wayne Way, San Mateo, sold $61,000 over asking in 11 days. 14638 Merced Street, San Leandro, pending in 7 days with multiple offers over asking. 408-888-5144 · rami@ramirealestate.com · DRE #02334866
