Is San Jose’s market finally cooling or still sprinting ahead? If you have seen mixed headlines and price charts, you are not alone. You want a clear read on prices, speed, and how competitive offers really are so you can plan your next move with confidence. Below, you will find the latest data translated into plain English, with neighborhood examples and step‑by‑step guidance for buyers and sellers. Let’s dive in.

San Jose snapshot: prices, pace, competition

• Prices: The median sale price in San Jose is about $1.25M as of Jan 2026, according to Redfin’s city snapshot. Zillow’s typical home value (ZHVI) reads higher at about $1.40M through Jan 31, 2026 on its San Jose home values page. The range reflects different methodologies.
• County context: Santa Clara County’s median sits above the city median, around $1.46M in Jan 2026, per Redfin’s county page.
• Inventory: Active listings are still tight for a city this size. Zillow showed roughly 818 active San Jose listings as of Jan 31, 2026 on its home values page. Expect a seasonal rise into spring.
• Speed: Redfin reports a median days on market near 31 days in Jan 2026 for San Jose. Zillow’s related “days to pending” metric often runs lower because it stops the clock at the accepted offer stage.
• Offer climate: Redfin indicates listings see about three offers on average in San Jose, and regional reporting shows many Bay Area homes still selling at or above list late in 2025.
• Mortgage rates: The 30‑year fixed averaged about 6.1% in early February 2026, per the Freddie Mac PMMS. Small rate shifts can move monthly payments significantly at local price points.

What these trends mean for you

Prices: how to read the range

Median sale price shows what buyers actually paid for homes that closed in a period. Zillow’s typical home value (ZHVI) is a model‑based index that smooths volatility. Seeing both together gives you a realistic range for budgeting or pricing. In short, plan around a citywide band of about $1.25M to $1.40M, then zero in on your exact neighborhood and property type.

Inventory: why choice may improve

Inventory is still lean by national standards, which helps well‑priced listings draw attention. That said, spring usually adds options, which can open windows for buyers who monitor new listings closely. If months of supply pushes higher, leverage tilts toward buyers; if it stays low, expect tighter negotiations.

Speed and offers: calibrate expectations

A median days on market near a month still allows time to tour and compare, but move‑in‑ready single‑family homes can reach pending in under four weeks when priced to local comps. The average of about three offers in San Jose points to continued competitiveness for standout listings. Condos and some central segments may move more slowly, offering more room for terms.

The Bay Area vs the U.S.

Many U.S. metros have shifted toward buyer leverage in recent years. The Bay Area remains an outlier where sales often close at or above list, reflecting high local demand and limited supply. Regional reporting confirms this ongoing gap with the national picture.

Neighborhood examples across San Jose

• Willow Glen: Redfin shows a Jan 2026 median sale price around $1.72M, a premium pocket where updated homes can still draw multiple offers. See Redfin’s Willow Glen page for live stats.
• Cambrian: Median sale price near $2.04M in Jan 2026 with quick single‑family tempo, per Redfin’s Cambrian page. Competitive pricing and presentation matter here.
• Downtown/Central: Lower medians and slower days to pending than prime suburban pockets. Condo inventory can provide more negotiating room for buyers. Explore Redfin’s Downtown San Jose page for up‑to‑date figures.

Numbers shift quickly at the neighborhood level, so use the vendor and date with every stat and refresh data before you act.

How to read the metrics like a pro

• Median sale price: The middle price of closed sales in a period. Use it to understand what buyers just paid.
• Typical home value (ZHVI): Zillow’s index that estimates typical values across the entire housing stock. It smooths month‑to‑month swings.
• Days on Market vs Days to Pending: DOM often measures list date to close or contract; days to pending measures speed to an accepted offer. Always note which one you see.
• Inventory and Months of Supply: Active listings are a snapshot. Months of supply equals active listings divided by monthly sales. Under 2 to 3 months often favors sellers; 4 to 6 is more balanced.
• Sale‑to‑list price ratio: Shows negotiation leverage. Above 100% signals strong competition; below 100% points to more buyer room.

For Santa Clara County context and a quick month‑to‑month read on local trends, check Realtor.com’s county market page.

Timing guidance for buyers in 2026

• Get fully underwritten pre‑approval. In a market that still sees multiple offers, underwritten approval strengthens your position.
• Watch rates weekly. The 30‑year average around 6.1% in early Feb 2026 can move. Track the Freddie Mac PMMS and ask lenders for updated estimates.
• Set alerts for target neighborhoods. When inventory rises in spring, new listings can change your options fast.
• Calibrate your offer plan. For updated, well‑priced single‑family homes, be prepared with clean terms and complete documentation. For condos or slower segments, negotiate on price, credits, or timing.
• Mind the metrics that shift leverage. Rising months of supply and sale‑to‑list ratios below 100% point to more buyer power.

Timing guidance for sellers in 2026

• Price to current comps, not last year’s peak. Accurate pricing in week one draws the widest buyer pool and can set you up for strong terms.
• Prep strategically. Address major repairs and present your home with professional photos and thoughtful staging for maximum impact.
• Expect due diligence. Many buyers will ask for inspections and reasonable contingencies. Prepare documentation to keep confidence high.
• Plan your negotiation path. Decide in advance whether you prefer a price cut or a credit for repairs so you can respond quickly when offers arrive.

Signals that the market is shifting

• Active listings and months of supply: If supply climbs toward 4 months or more, buyers often gain leverage. Use Realtor.com’s Santa Clara County page as a quick temperature check.
• Sale‑to‑list price ratio: Sustained readings under 100% suggest sellers should adjust expectations; sustained readings over 100% indicate stronger seller leverage, which the Bay Area often shows on Zillow’s San Jose page.
• Price reductions and canceled escrows: If the share of reductions or failed deals rises, buyer caution is increasing, and negotiation room may widen.
• Mortgage rate trajectory: Even modest moves in the 30‑year average can change eligibility and monthly payments materially at local price levels, per the Freddie Mac PMMS.

Local help when you need it

When you want a precise read for your block and property type, a neighborhood‑level analysis is key. Whether you are weighing a spring list date or planning a mid‑year purchase, we will walk you through comps, timing, pricing, and offer strategy tailored to your goals. Reach out to the Dapkus Real Estate Team for a personalized plan or to Get Your Free Home Valuation.

FAQs

What is the current median home price in San Jose?

• Redfin reports a Jan 2026 median sale price around $1.25M, while Zillow’s typical home value is about $1.40M through Jan 31, 2026.

How fast are homes selling in San Jose right now?

• Redfin shows a median days on market near 31 days in Jan 2026, while Zillow’s days to pending runs lower because it measures time to an accepted offer.

Are offers still competitive in San Jose?

• Yes. Redfin indicates listings see about three offers on average, and regional reporting shows many Bay Area homes selling at or above list.

Is it a good time to buy a condo in San Jose?

• Many condo segments move more slowly than single‑family, which can create more room to negotiate on price, credits, or timing.

How do mortgage rates affect my buying power in San Jose?

• At local price levels, small rate changes can shift monthly payments noticeably; the 30‑year averaged about 6.1% in early Feb 2026 per Freddie Mac.

What should I do before listing my San Jose home?

• Align your price with fresh comps, complete key repairs, stage and photograph professionally, and decide in advance how you will handle credits versus price changes.