The Willow Glen area of San Jose is a fun community with a fantastic downtown area on Lincoln Avenue. Located just south of downtown San Jose with strong schools and easy commute access to Hwy 87 and 280.
The chart above shows the distribution of prices for single family residences in San Jose-Willow Glen during 2017. Relatively affordable homes in the $500k to $2.0M price range.
Median prices rose by 10.6% in 2017. This is the sixth year of significantly rising prices. The annual increase in the median price for San Jose-Willow Glen homes has averaged 6.1% per year since 1998.
The above scatter chart shows the distribution of both home sizes (SQFT) and the final $ per SQFT for San Jose-Willow Glen homes in 2017. Each Closed Sale in 2017 is represented by a single dot. Note how the $/SQFT varies by home size.
Market demand for Willow Glen homes continues to remain very strong. The annual average Days on Market continues at historically low levels. The annual average sales vs. List Price remains around 4%.
The scatter chart above shows the distribution of Sales/List Price percentages. Note homes selling after one weekend on the market typically sell for significantly more than the annual average. The blue dots represent a home sale in 2017.
The annual supply of New Listings for Willow Glen homes actually increased slightly in 2017. The supply of New Listings has been on a steady decline over the past 10 years.
The Quarterly Median Price continued to steadily rise.
This monthly view of median prices for San Jose-Willow Glen homes provides more insight into market dynamics. Keep in mind that the fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.
The Inventory of Active listings dropped significantly in 2017 to around 60.
The monthly supply of new listings for homes in San Jose-Willow Glen. Note the seasonality with December typically being the low-point during the year.
The monthly average Days on Market chart shows a significant downward trend starting at the beginning of 2017.
The monthly Average Sales vs. List Price percentage shows a strong recovery in 2017 from 2016.
Interestingly the monthly number of Closed Sales appears to be relatively consistent.
Sources: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.