San Jose Real Estate Market Report – July 2026
If you've been watching the San Jose market this summer, you've probably noticed something: it doesn't quite feel like it did in the spring. The July numbers from Santa Clara County confirm what a lot of buyers and sellers have been sensing anecdotally. The balance of power is shifting, gradually but consistently.
The Headline Number
In May, San Jose sellers were averaging 104% of their asking price, which is a sign of a market that is still very much favoring sellers. In June, that number eased to 103%. In July, it dropped again, to 102%. Three months, three straight declines.
A single point doesn't sound dramatic. But paired with a second number (average days on market) the picture gets clearer. Homes sat on the market for 20 days in both May and June. In July, that jumped to 27 days, the first real slowdown we've seen all summer.
Put those two trends together and you get a market where San Jose buyers finally have a bit more room to negotiate, and sellers need to be more realistic about pricing than they did even two months ago.
What Else Moved in July
Homes sold: 350 closed sales in July, down from 422 in June (a 17% pullback).
Median sale price: $1,670,500, up only slightly from June's $1,668,000 and May's $1,652,500. Prices are still inching upward, just much more slowly than sales volume would suggest.
Inventory: Current inventory has shrunk each month since May (640 → 554 → 544), even as new listings also pulled back. Fewer homes are coming onto the market, but demand has cooled enough that what is available is taking longer to sell.
Condos Are Telling the Same Story, Differently
San Jose's condo and townhome market is seeing its own version of this shift. Sellers there are still averaging full asking price (100% for three straight months), so on paper it looks steadier than single-family homes. But look at price per square foot, and the trend is unmistakable: $646 in May, $635 in June, $614 in July, down for three consecutive months.
Days on market for condos also jumped in July, from 37 days in May and June to 43 days, which mirrors the same slowdown we're seeing in the single-family market.
It's Not Just San Jose
This isn't a San Jose-specific blip. Santa Clara County as a whole is showing the same pattern: the countywide percent of list price received slid from 104% in May to 102% in July, right alongside San Jose, and countywide average days on market climbed from 19 to 27 over the same stretch. Whatever's driving this (rate sensitivity, buyer fatigue, seasonal timing) it's a county-wide shift, not a one-neighborhood story.
What This Means for You
This is exactly the kind of moment where having a local Realtor in your corner actually matters, because the county-wide numbers only tell part of the story.
If you're selling: Pricing accurately from day one matters more now than it did in the spring. Homes that are priced to the current market (not to what a neighbor got in May) are still moving. Overpricing in a market where buyers have more leverage just means more days on market and, often, a price cut down the road.
If you're buying: You have more negotiating room than you did a few months ago, particularly on homes that have been sitting. That doesn't mean the market has flipped in your favor, it means the extreme seller's-market dynamics of the spring have eased.
Either way, the right move depends on your specific situation, timeline, and the home or neighborhood you're looking at. I'm happy to pull the data for your street or your target neighborhood specifically, just reach out.
Frequently Asked Questions
What was the median home price in San Jose in July 2026?
The median sale price for single-family homes in San Jose was $1,670,500 in July 2026, up 0.15% from June's $1,668,000. The median for condos and townhomes was $800,000, up 9.59% from June's $730,000.
Is San Jose a buyer's or seller's market right now?
For single-family homes, still a seller's market but looser than June: roughly 1.6 months of supply, well under the 5-6 months that typically signals a balanced market, with sellers averaging 102% of list price. Condos and townhomes sit around 3.1 months of supply, closer to balanced, with sellers getting 100% of asking.
How long are homes taking to sell in San Jose?
Single-family homes averaged 27 days on market in July 2026, up from 20 in June. Condos and townhomes averaged 43 days, up from 37 in June.
Are home prices in San Jose going up or down?
Single-family median price was essentially flat (+0.15%), but average price and price per square foot both fell, down 2.88% and 4.65% respectively, a sign of softening at the top of the market. Condo median and average prices rose (+9.59%, +5.12%), though price per square foot fell 3.31%, suggesting the increase reflects which homes sold rather than a broad rise in value.
Is now a good time to sell in San Jose?
For single-family sellers, yes, with a caveat: supply is still tight, but pricing needs to reflect July's softer demand rather than June's momentum. For condo and townhome sellers, price to the price-per-square-foot trend, not the median, to avoid overpricing based on July's mix-driven jump.
Data source: Santa Clara County MLS, May–July 2026.
Chloe Dertinger Realtor®, Connect California Homes | DRE #02282915
(408) 212-0732 | chloe@connectcahomes.com | www.chloedertinger.com
