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The spring market continued to keep things interesting in San Jose’s Rose Garden neighborhood (ZIP 95126), with May bringing a few notable shifts compared to April. While home values, buyer activity, and competition all remained strong, the market showed signs of settling into a more balanced rhythm as we head into summer.
One of the biggest changes was in home prices. April was an unusually strong month, with several high-end sales pushing the average sales price above $2 million. In May, the average sales price moved back toward more typical levels, landing at approximately $1.14 million. Despite this adjustment, seller confidence remained high, with the median list price inching up from $955,000 in April to $975,000 in May.
Activity in the neighborhood remained healthy. The number of homes sold increased from 14 in April to 16 in May, giving buyers a few more opportunities while maintaining a steady pace of transactions. Homes did spend a little longer on the market, with average days on market rising from 17 days to 24 days. Even so, properties that were well-priced and well-presented continued to attract strong interest.
Perhaps the most telling sign of market strength is that competition among buyers hasn’t let up. Homes sold for an average of more than 104% of their asking price in both months, indicating that multiple-offer situations remain common throughout the Rose Garden area. Buyers may have gained a little more time to evaluate their options, but desirable homes are still commanding premium prices.
Overall, May’s market suggests a healthy transition from the fast-paced spring surge into a more sustainable summer market. For sellers, the data reinforces the importance of strategic pricing and presentation. For buyers, preparation remains key, as strong offers are still necessary to compete for the most sought-after homes.
As always, every home and every situation is unique. If you’re curious about what these trends mean for your property or your home search, I’d be happy to help.
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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
