San Jose, CA 95123 Real Estate Market Report

ZIP Code: 95123
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in San Jose, CA (ZIP: 95123) shows a median sold price of $1,399,000, reflecting a slight price correction in the area. This price indicates a stable market despite a year-over-year trend that is down overall. The market's current conditions suggest a potential for stabilization and modest appreciation moving forward, driven by strong demand primarily from the tech sector and increasing rental demand.

Transaction activity appears moderate, with 239 days on market indicating slower sales velocity. The elevated inventory levels relative to sales activity may suggest a shift in market dynamics, where buyers have more options but also face a longer decision-making process. As interest rates moderate, buyer activity may increase, potentially leading to a more balanced market in the coming months.

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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.

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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.

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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.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The median sold price of $1,399,000 indicates a stable market amidst a slight price correction.

2. With 239 days on market, properties are experiencing slower sales velocity, suggesting weaker liquidity in the current environment.

3. The median listing price of $1,448,888 reflects seller expectations that may not align with current buyer sentiment, indicating potential pricing friction.

4. The median market rent is $4,270, which is contributing to increased demand for housing despite the down price trend.

5. Overall, the market temperature remains hot, but the moderate interest rate pressure may influence future buyer activity.

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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.