May 2023
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. Click on these links to learn more about the Willow Glen Community and Schools.
Median prices declined 6% from last year, which was 14% higher than 2021. The annual increase in the median price for San Jose-Willow Glen homes has averaged 6.6% per year since 1998 (CAGR).
Market demand for Willow Glen homes remains strong. The average final sales price (blue line) is at an all-time high. The annual average Days on Market (red line) continues at an all-time low.
The supply of New Listings (blue line) for Willow Glen homes remains at historically low levels. The number of Sales (red line) is relatively consistent with recent years. This chart is updated annually after year-end.
Willow Glen homes are typically in the $1.0M to $2.5M price range.
$/SQFT varies widely. The scatter chart above shows the distribution of $ per SQFT by size of home. This chart also shows you the distribution of home sizes.
The Quarterly Median Price returned to 2021 levels after a jump during the first half of 2022.
This monthly median prices spiked in March-April then continued the upward trend from 2021. 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 monthly average Days on Market is fairly consistent with prior years.
Average Sales vs. List Price percentage has declined significantly from recent years suggesting fewer competing offers.
Homes selling within the first 10 days are typically selling for 5% to 20% over list.
The monthly supply of new listings is slightly lower than prior years. Note the seasonality with December typically being the lowest-point during the year.
The Inventory of Active listings is also lower than prior years.
The monthly number of Sales is significantly lower than prior years.
Source: 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.