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The spring market continues to show strength in San Jose’s 95124 zip code, with home values holding steady and buyer demand remaining strong. While the market is still moving at a healthy pace, May brought a few subtle changes that are worth noting for both buyers and sellers.
One of the biggest takeaways from the past month is the continued strength of home values. The average sales price increased slightly from $2.04 million in April to $2.07 million in May, reflecting ongoing demand for homes in this highly desirable area. At the same time, the median list price remained unchanged at $1.75 million, suggesting that sellers are pricing their homes strategically while buyers continue to recognize the value of well-located properties.
While competition remains strong, buyers may be seeing a bit more breathing room than they did earlier this spring. In April, homes sold for an average of 105.3% of their asking price. That number eased slightly to 102.4% in May. Homes are still selling above list price, but the market feels a little less frenzied than it did just a few weeks ago.
Sales activity remained remarkably consistent from month to month. Forty homes closed in May compared to 39 in April, showing that buyers are still actively purchasing despite higher prices and interest rate concerns. The pace of the market slowed slightly, with average days on market increasing from 17 days to 20 days. While that may not sound like much, it gives buyers a little extra time to tour homes, evaluate their options, and make thoughtful decisions.
Overall, the 95124 market remains healthy and competitive. Sellers continue to benefit from strong demand and favorable pricing conditions, while buyers may find a slightly more balanced environment than they experienced earlier in the spring.
As we move into the summer market, it will be interesting to see whether inventory levels increase and if the recent moderation in competition continues. For now, 95124 remains one of the strongest and most sought-after markets in the area.
If you’re considering buying or selling in 95124, 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
