In August, home prices remained unchanged from the month before, with a median listing price of $1,200,000.
The number of listings on the market shrank 10.8% from last month, which is a bigger decrease than normal for this time of the year in San Jose, and homes are also selling slower than at the same time last year.
Home prices in San Jose
Typically, home price per square foot in San Jose tend to fall in August. And the most recent data shows that the price per square foot decreased by 1.1% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Capital of Silicon Valley are smaller the national market.
San Jose inventory
In August, there were 850 homes for sale in San Jose, which was 10.8% less than the month before and 29.4% more than the same time last year.
Meanwhile, active inventory across the nation fell by 0.4% from last month to 1,098,681.
The number of new listings in San Jose was 576, which was 11.6% more than the month before and 5.1% more than the same time last year.
Nationally, the number of new listings fell by 7.5% from last month to 402,268.
Time on market
Homes in San Jose take an average of 37 days to sell, according to August figures.
This is one day more than the previous month and six days more than the same month last year.
For comparison, nationally homes spent an average of 60 days on the market in August.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in San Jose, CA.