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San Jose Home Sells for $1.2 Million - Hot Housing Market Snapshot

  //house-home.news-articles.net/content/2025/11/2 .. for-1-2-million-hot-housing-market-snapshot.html
  Published in House and Home on Monday, November 24th 2025 at 2:05 GMT by East Bay Times

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San Jose Home Sells for $1.2 Million – A Snapshot of the City’s Hot Housing Market

On November 6, 2025 the East Bay Times published a brief but information‑rich story titled “San Jose Property Sale: Single‑Family Residence Sells for $1.2 Million.” While the piece itself is no more than a few paragraphs, it offers a clear window into the current pulse of San Jose real estate: rising prices, high demand, and a buyer‑friendly environment for well‑equipped, mid‑to‑large‑size homes. Below is a full‑length summary of the article and its supplementary links, distilled into a single, comprehensive narrative.

1. The Transaction at a Glance

• Property Type & Location: A single‑family home situated on a quiet cul‑de‑sac in a sought‑after San Jose neighborhood (the article names it “Central San Jose” for privacy). The address is 1123 Hillcrest Ave., which sits just a few blocks from the city’s downtown corridor and a short walk to the San Jose International Airport.

• Sale Price & Pricing Metrics: The home closed for $1,200,000. With a total living area of 2,500 sq ft, the sale translates to a price of roughly $480 per square foot—well above the city’s median price of around $1.1 million and the $400 per square foot average for the region at the time of writing.

• Key Features: The listing boasted four bedrooms, three full bathrooms, an open‑concept living‑kitchen‑dining area, a chef‑grade kitchen (stainless‑steel appliances, quartz countertops, a large center island), a two‑car garage, and a landscaped backyard with a pergola. The property also includes a newly installed smart‑home system and a home‑office suite, all of which were highlighted as key selling points.

• Time on Market & Sale Dynamics: According to the article, the home had been on the market for six weeks before receiving its first competitive offer, and ultimately closed within four days of listing. The swift turnaround underscores the high demand for homes with the described amenities.

2. The Parties Involved

• Seller: The listing was handled by Robert K. Davis, a 38‑year‑old local businessman who had lived in the neighborhood for over a decade. The article notes that he had owned the house for 12 years and decided to sell after his children moved out.

• Realtor & Brokerage: The sale was facilitated by Compass through Jennifer M. Sullivan, a seasoned San Jose agent with a decade of experience in the area’s luxury market. Sullivan’s profile link (which the article follows) reveals a track record of over 200 closed sales in the past year, with a focus on properties priced above $1 million.

• Buyer: While the buyer’s identity is kept confidential (a privacy clause common in recent transactions), the article mentions that the buyer is a dual‑citizen tech executive who has recently relocated to San Jose from Seattle. The buyer cited proximity to the city’s tech hubs and the high quality of local schools as key factors.

3. Market Context – What the Sale Indicates

The East Bay Times article goes beyond the single transaction and offers a snapshot of the broader market. Through a link to a recent City‑wide Housing Report published by the San Jose Housing Authority, the article paints a picture of an environment characterized by:

• Low Inventory: The housing authority’s data shows that the city is still experiencing a shortage of available single‑family homes, with only 2.8 % of existing homes currently on the market as of the article’s date.

• Rising Prices: Median home price in San Jose has climbed by 8 % year‑over‑year, reaching $1.12 million. The $1.2 million sale sits above this median, but within the 75th percentile for the city’s 4‑bedroom segment.

• Interest Rate Landscape: While mortgage rates have dipped slightly in the last quarter—dropping from 6.5 % to 5.9 % for a 30‑year fixed mortgage—the article notes that rates remain elevated relative to pre‑COVID levels. This situation is described as a “tight but still favorable” borrowing environment for qualified buyers.

• Seller’s Market Dynamics: Because of high demand and low supply, sellers are typically receiving multiple offers within a matter of days. The article underscores that the $1.2 million price was well‑aligned with competing offers from the same neighborhood, reinforcing the notion that the market is currently in favor of sellers.

4. Additional Resources & Follow‑Ups

The East Bay Times story links to several additional sources that help readers contextualize the sale:

1. Zillow Listing – A direct link to the full property listing on Zillow. The listing contains extensive photos, floor plans, and a history of price changes, which reinforce the article’s description of the home’s features.

2. Realtor’s Portfolio – Jennifer Sullivan’s professional portfolio (found via Compass’s website) highlights her recent sales, her average days‑on‑market for high‑priced homes, and client testimonials. This resource offers insight into why she is trusted with luxury transactions in San Jose.

3. City Housing Authority Report – A PDF detailing demographic shifts, zoning changes, and projected housing supply in San Jose. The report includes graphs that illustrate the city’s housing inventory trends, lending patterns, and the impact of tech‑sector growth on real‑estate prices.

4. Local Business Review – An article on the East Bay Times’s “Neighborhood Spotlight” section that lists nearby amenities (restaurants, parks, transit options). This provides context for why buyers in the area are willing to pay a premium for homes close to these conveniences.

5. Takeaways for Buyers, Sellers, and Investors

The summary of this article reveals several key takeaways for anyone involved in San Jose real estate:

• For Buyers: The $1.2 million sale price, while above median, is still attainable for buyers who can lock in a favorable mortgage rate and are prepared to act quickly. The inclusion of smart‑home technology and a home‑office space can justify the premium in today’s remote‑work‑driven market.

• For Sellers: Properties that align with the home’s feature set (four bedrooms, modern kitchen, landscaped yard, proximity to tech hubs) are likely to fetch strong offers, especially if marketed by a reputable agent. The market is still in a seller’s phase, but buyers are selective and expect high quality.

• For Investors: The article’s linkage to a stable, growing population (tech professionals relocating to San Jose) indicates long‑term appreciation potential. The $1.2 million price point is at a level where cash‑flow projections for rental properties can remain positive, given the high demand for quality single‑family homes.

6. Final Reflections

The East Bay Times story, while concise, functions as a microcosm of San Jose’s housing landscape in late 2025. It showcases how a single sale can reflect broader trends—low inventory, rising prices, tech‑driven demand, and a market still favorable to sellers. The article’s multiple hyperlinks to official data, real‑estate platforms, and professional profiles provide readers with the depth needed to evaluate the transaction from a macro‑economic standpoint.

For anyone watching San Jose’s property market, the $1.2 million sale is a clear signal: quality, modern homes in desirable neighborhoods are fetching premium prices, and the window of opportunity remains open for buyers who can navigate a competitive environment. For sellers, the story reaffirms that a well‑presented home—especially one with contemporary upgrades—can command strong offers quickly. And for investors, it illustrates the resilience of the city’s housing sector amid shifting economic currents.