Facebook
X
Pinterest
Copy Link
The Japantown housing market (95112) continued to show its strength in June, even as the busy spring selling season began to wind down. While fewer homes changed hands compared to May, home values continued to climb, with the average sales price reaching $1.09 million. It’s a sign that well-priced, desirable homes are still attracting serious buyers in this highly sought-after neighborhood.
Home Prices Continue to Move Higher
After a slight dip in May, home prices bounced back in June. The average sales price increased from $1.05 million to $1.09 million, showing that buyer demand remains strong for quality homes in Japantown.
Sellers also entered the market with growing confidence. The median list price rose nearly 6%, increasing from $750,000 in May to $793,000 in June. That jump suggests homeowners continue to feel optimistic about their property’s value despite the seasonal slowdown.
Fewer Homes Sold in June
Although prices were on the rise, the number of closed sales slowed as summer arrived. May was an especially active month, with 24 homes sold, while 17 homes closed in June—about a 30% decrease.
This isn’t unusual for this time of year. A slower sales pace can reflect fewer homes available for purchase, buyers taking more time with their decisions, or simply the natural shift that often follows the busy spring market.
Homes Are Selling at a Steady Pace
One thing that hasn’t changed much is how long homes are staying on the market. Properties averaged 37 days on market in May and 38 days in June, indicating that the market remains steady.
Buyers still have enough time to evaluate their options, but desirable homes continue to move without sitting on the market for long.
Sellers Still Have the Advantage
Even with fewer sales, buyers are continuing to compete for the right homes. In June, homes sold for an average of 101.8% of their list price, meaning many buyers were still willing to pay above asking price. While that’s a slight dip from May’s 102.6%, it remains a strong indicator of seller-friendly conditions.
For buyers, that means competitive offers are still important—especially for updated homes in desirable locations.
What This Means for Buyers and Sellers
June’s numbers show a market that’s shifting into a more balanced summer rhythm without losing momentum. Sales activity has eased from the spring rush, but home values remain strong and buyers continue to compete for desirable properties.
If you’re thinking about selling, current pricing trends continue to work in your favor. And if you’re buying, being prepared with a strong offer and financing in place can make all the difference when the right home becomes available.
As we move further into summer, it will be interesting to see whether inventory begins to grow or if limited supply continues to support rising home prices in Japantown.
GET YOUR FREE HOME SELLING BOOK
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
