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The spring market remained active in San Jose’s 95136 zip code, but May brought a few subtle shifts that are worth paying attention to. While buyer demand remained strong and homes continued to sell quickly, the market showed signs of settling into a slightly more balanced pace compared to the fast-moving conditions we saw earlier this spring.
One of the biggest changes was in home prices. After a particularly strong April, when the average sales price reached approximately $1.41 million, the average sales price moved down to about $1.31 million in May. At the same time, sellers appeared increasingly confident about entering the market, with the median list price rising from $1.15 million to $1.24 million.
Activity remained healthy throughout the month. In fact, more homes sold in May than in April, with closed sales increasing from 23 to 25 transactions. That’s a positive sign that buyers are still actively searching and making moves despite ongoing competition and affordability challenges.
Homes did take a little longer to sell, however. The average time on market increased from 15 days in April to 19 days in May. While that represents a slight slowdown, it’s important to remember that a home selling in less than three weeks is still considered a very fast-paced market by most standards.
Competition also remained strong. Buyers continued to pay above asking price for desirable homes, with properties selling for just over 104% of their list price on average in both months. This tells us that well-priced homes are still attracting multiple offers and strong interest from buyers.
So what does this mean for today’s market?
For sellers, conditions remain favorable, especially for homes that are properly priced and well-prepared for the market. For buyers, there may be a little more time to evaluate options compared to earlier this spring, but strong offers are still necessary when pursuing the most desirable properties.
As we move into the summer season, it will be interesting to see whether inventory continues to grow and if the market settles into a more balanced rhythm. For now, the 95136 housing market remains active, competitive, and resilient.
If you’re thinking about buying or selling in 95136, understanding these local market trends can help you make informed decisions and develop the right strategy for your next move.
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About the Author – Michelle Elliott
With over 20 years of experience navigating the fast-paced Silicon Valley market, I provide a strategic, results-driven approach to residential real estate. My career is built on a foundation of deep local expertise and a relentless commitment to my clients’ success, resulting in over $235 million in lifetime sales volume and a consistent ranking in the top 3% of agents in Santa Clara County and top 2% at Coldwell Banker. My expertise has been featured on KTVU Fox 2, Real Producers and the Willow Glen Resident. She is also the co-host of the San Jose Podcast “Say What You Want About Real Estate”
A Hyper-Local Expert with Global Reach
I specialize in San Jose, in the neighborhoods of Willow Glen (95125 & 95124) Cambrian Park and Almaden, Downtown San Jose/Japantown (95112) markets. As a certified Luxury Property Specialist with Coldwell Banker Realty, I combine high-end marketing strategies with granular neighborhood knowledge to help my clients achieve premium results.
The “Tiger” at the Negotiating Table
My clients have characterized me as a “tiger” at the negotiating table who remains “sweet and patient” with my clients throughout the process. I pride myself on being a fierce advocate for my buyers and sellers, ensuring the best possible terms in every transaction, and I strive to be the best Realtor in 95125! This balance, drive, and tenacity have earned me consistent 5-star ratings across Google, Zillow, Realtor.com, and Yelp.
Michelle Elliott
Michelle@michelleelliottrealtor.com
1712 Meridian Ave, Ste C, San Jose, CA
DRE 01777533
