As the Capital of Silicon Valley, San Jose is a bustling community for young tech entrepreneurs, established professionals and accomplished retirees. The median income in San Jose is high - even for California standards - at $83,114. Given a high median income, the median age of homebuyers in San Jose is slightly higher than other cities of it's size, at 45 years old. And inventory is fairly tight in the heart of Silicon Valley, with just 1,175 homes for sale in 2015. However, the number of homes for sale increased from 2014 to 2015, with a 24.47 percent year-over-year growth. Parents and families in the Bay Area might consider relocating to San Jose due to school ratings. Trulia ranks high schools in San Jose a 5.02 out of 10 and elementary schools a 6.24 out of 10. San Jose is a city full of historical charm combined with new innovations in tech and science, creating a truly diverse and compelling environment for both children and adults.
Asking prices on homes for sale in San Jose are growing to keep up with the local economy and tech sector job growth in the city. In 2015, the average list price was $762,189, compared to $637,979 in 2014. Average list prices are increasing 19.47 percent year-over-year, representing one of the strongest market developments in the country. However, the price per square foot on a home in San Jose is expensive at $469, so investing in the area costs more upfront, but the returns on investments are typically high. The price per square foot on San Jose homes for sale is increasing 18.14 percent year-over-year.