San Jose, CA 95123 Real Estate Market Report
ZIP Code: 95123
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in San Jose 95123 are 6.52% compared to the 5.99% average observed in January 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The neighborhood's primary market indicator, median sold price, is 1,399,000, which reflects recent transaction activity and should be treated as the most reliable price signal for valuations in 95123; use sold prices over asking prices for comp analysis.
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The median listing price is 1,395,000 while the market shows a year-over-year price trend of down; this alignment of listing and sold price near the same level, coupled with a neutral market temperature, suggests pricing friction but not a sharp market-wide repricing event.
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Liquidity appears muted: median days on market is 232, which indicates slower sales velocity and may signal that homes are taking longer to reach contract than in faster markets; this slower turnover appears to increase negotiating leverage for buyers relative to rapid-sale conditions.
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Value and yield context: median price per square foot is 852 and median market rent is 2,990, while rent year-over-year trend is up and interest rate pressure is moderate; combined with current 30-year rates at 6.52% versus the January 2026 average of 5.99%, financing costs remain a headwind for price recovery and should be factored into deal structuring.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
San Jose, CA 95123 Real Estate Market Report
ZIP Code: 95123
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in San Jose 95123 are 6.52% compared to the 5.99% average observed in January 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The neighborhood's recent market value is best represented by the median sold price of $604,000, which anchors pricing expectations amid a local down price year-over-year trend and suggests realized transaction values are weaker than prior periods.
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Liquidity appears muted: the median days on market is 272, indicating slower sales velocity relative to fast-turn markets; this longer time to contract may signal increased negotiation leverage for buyers and greater holding costs for sellers.
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There is a notable spread between seller expectations and realized transactions where the median listing price of $659,444 sits above the median sold price, creating pricing friction that may prolong time on market and require pricing adjustments to accelerate closings.
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Rent and financing context is mixed: the median market rent is $2,695 and rent is up, which supports rental demand, while interest rate dynamics show moderate pressure—current local 30-year fixed rates at 6.52% versus a 5.99% January 2026 average—which may restrain buyer purchasing power and keep buyer urgency subdued.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Sold at market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Below-market acquisition. Investor purchase with value-add potential through renovation.
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 0.6% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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