"In February, the median list price in San Jose reached $1,149,450, up 2.5% year over year, while only 7.4% of listings took a price cut."
"Active listings jumped 39.9% year over year to 618 homes in February, indicating a significant increase in inventory compared to the national growth of 7.9%."
"Homes in San Jose sold in a median of 23 days in February, which is faster than the national average of 70 days, but slower than the previous year."
"Despite more homes hitting the market, buyer demand remained strong enough to absorb the added supply, preventing prices from decreasing."
San Jose's real estate market is characterized by a significant increase in inventory, with active listings rising 39.9% year over year. Despite this growth, the median list price reached $1,149,450, reflecting a 2.5% increase from the previous year. Sellers maintained their pricing strategies, with only 7.4% of listings experiencing price cuts. Homes sold in a median of 23 days, which is faster than the national average but slower than the previous year. Overall, the market showed signs of loosening without shifting to a buyer's advantage.
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