San Jose keeps climbing. In 2020 the median home sold for about 1.05 million dollars. By 2021 that figure jumped to 1.22 million, then to 1.305 million in 2022, and 1.31 million in 2023. The latest 2024 data shows the median at 1.414 million dollars. That is a five‑year gain of roughly 35 percent.
You can turn that rise into an advantage. If you own a home, you hold serious equity. Listing while demand stays high can fund your next purchase or diversify into an investment property. Price growth also limits buyer choice, so well‑priced listings still spark quick offers and multiple‑bid tension.
If you plan to buy, waiting carries a cost. Even the small 0.4 percent bump from 2022 to 2023 added about five thousand dollars to the median. Each extra month in limbo lets prices run ahead of you, and interest rates can shift overnight. Secure financing and act when the right home shows up rather than chasing a perfect market dip.
Investors should note that Silicon Valley’s tech workforce continues to create steady housing demand. Rising rents can help cover carrying costs on new purchases, while long‑term appreciation builds wealth. A 35 percent gain over four years is hard to match in many other asset classes.
Source: MLS CALIFORNIA