How Much Over Asking

How Much Over Asking Should You Offer in San Jose? What Buyers Actually Paid

Updated November 4, 2026

By Vinura Abeysundara

Head of Growth at TurboHome

Reviewed by:

Vinura Abeysundara

Head of Growth at TurboHome

Kevin Kretzmer

Head Agent, California · CalDRE #01997822

The median home in San Jose closed at list price between August and October 2026, and 42.9% of the 762 closings in our MLS feed sold above the asking price. When buyers did pay over asking, the typical winning offer was 3.8% over list, about $51,000 on a median $1,350,444 home, while 46.2% of buyers paid less than asking. Whether you should offer over list in San Jose depends on the neighborhood, the price tier and how long the home has been listed, and the sections below give the numbers for each.

TurboHome Market Analysis · San Jose, CA · Closings August through October 2026 · Published November 2026

Key findings

Median close: 100.0% of list (at list price), and 1.1% below original asking.
Over, at or under: 42.9% of homes sold above list, 10.9% exactly at list and 46.2% below list.
Size of the premium: when buyers paid over asking, the median premium was 3.8% over list ($51,000), and the 90th percentile closing was 108.7% of list.
Neighborhoods paying the most: Valley View / Reed (median 100.4% of list), Communication Hill (100.4%) and Basking Ridge (100.4%).
Most competitive price tier: the $2M to $3M tier, where 59.7% of 119 closings sold above list at a median 101.0% of list.
Price cuts: 26.8% of closings had at least one price cut before the sale, so a below-list offer works on some listings, mostly ones that have already been cut or have sat.

San Jose offers vs asking: the numbers

Closings in San Jose in our MLS feed, August through October 2026, all home types.

San Jose offers vs asking: the numbers, data table
Metric	Value
Closings analyzed	762
Median close vs list	100.0% of list (at list price)
Median close vs original asking	1.1% below original asking
Share sold above list	42.9%
Share sold at list	10.9%
Share sold below list	46.2%
Median premium when sold over list	3.8% over list ($51,000)
Median discount when sold under list	$34,500 under list
75th percentile close vs list	102.8% of list
90th percentile close vs list	108.7% of list
Median days on market	16
Share with a price cut before closing	26.8%

Share of closings. Every figure is in the table below.

"Close vs list" compares the sale price with the asking price at the time the offer was accepted, so price cuts made earlier are already baked into the list price. The 90th percentile (108.7% of list in San Jose) shows what the most competitive one in ten offers looked like. A high share of price cuts means list prices are being negotiated down before the sale; in San Jose, 26.8% of closings had at least one cut.

What a winning offer looked like by price tier

San Jose: what a winning offer looked like by price tier, data table
Price tier	Closings	Median close as % of list	Share sold above list
Under $500k	31	97.9%	3.2%
$500k to $750k	93	98.6%	26.9%
$750k to $1M	102	99.8%	34.3%
$1M to $1.5M	216	99.9%	42.1%
$1.5M to $2M	162	100.0%	50.6%
$2M to $3M	119	101.0%	59.7%
$3M and up	39	100.5%	56.4%

The $2M to $3M tier was the most competitive in San Jose, with 59.7% of 119 closings sold above list at a median 101.0% of list. Homes under $500k were the least competitive, with 3.2% sold above list and a median closing at 97.9% of list.

Houses vs condos: where the bidding is

San Jose: houses vs condos and townhomes, data table
Home type	Closings	Median close as % of list	Share sold above list
Single family	525	100.0%	49.7%
Condos and townhomes	235	98.9%	27.7%

Single family homes in San Jose closed at a median 100.0% of list, and 49.7% sold above asking. Condos and townhomes closed at a median 98.9% of list with 27.7% above asking, so the bidding is heaviest on single family homes.

San Jose neighborhoods where buyers pay the most over asking (and the least)

Neighborhoods with at least 10 closings in our feed, August through October 2026.

Neighborhoods where San Jose buyers paid the most over asking, data table
Neighborhood	Closings	Median close as % of list	Share sold above list	Median sale price
Valley View / Reed	10	100.4%	50.0%	$1,560,000
Communication Hill	10	100.4%	50.0%	$925,000
Basking Ridge	10	100.4%	50.0%	$1,497,500
Willow Glen South / Lincoln Glen	14	100.2%	64.3%	$1,835,000

Neighborhoods where San Jose buyers paid the least relative to asking, data table
Neighborhood	Closings	Median close as % of list	Share sold above list	Median sale price
Willow Glen	61	100.0%	49.2%	$2,000,000
The Villages	27	98.9%	18.5%	$850,000
Downtown San Jose	31	97.7%	3.2%	$700,000

Buyers paid the most over asking in Valley View / Reed, where 10 closings went for a median 100.4% of list and 50.0% sold above asking. At the other end, Downtown San Jose closed at a median 97.7% of list, with 3.2% above asking. Neighborhood figures rest on far fewer closings than the citywide numbers, so read them as direction rather than a price quote.

Days on market changes the answer

In San Jose, 47.0% of closings went under contract within 14 days, and those homes closed at a median 101.6% of list with 64.5% above asking. Homes that took more than 30 days closed at a median 97.9% of list, and 16.9% sold above asking.

San Jose: what homes closed at by time on market, data table
Time to go under contract	Median close as % of list	Share sold above list
Within 14 days	101.6%	64.5%
More than 30 days	97.9%	16.9%

A home still active after 30 days in San Jose is where below-list offers succeed, because the seller has watched the market pass the home by. A new listing in a hot neighborhood is where the premium is paid, because that is where the competing offers land in the first two weeks.

Is San Jose getting more or less competitive?

Month by month in our feed, Oct 2025 to Oct 2026.

Share sold above list. Every figure is in the table below.

San Jose: share sold above list and median close as % of list, by month, data table
Month	Share sold above list	Median close as % of list
Oct 2025	45%	100.0%
Nov 2025	56%	100.2%
Dec 2025	44%	100.0%
Jan 2026	47%	100.0%
Feb 2026	58%	101.6%
Mar 2026	64%	102.4%
Apr 2026	62%	101.9%
May 2026	57%	100.5%
Jun 2026	53%	100.1%
Jul 2026	44%	100.0%
Aug 2026	45%	100.0%
Sep 2026	43%	100.0%
Oct 2026	40%	100.0%

San Jose: Aug to Oct 2025 vs Aug to Oct 2026, data table
Metric	Year ago (Aug to Oct 2025)	Now (Aug to Oct 2026)
Median close as % of list	100.0%	100.0%
Share sold above list	46.3%	42.9%
Median days on market	17	16
Median dollars over list (sales above list)	$61,000	$51,000
90th percentile close as % of list	110.7%	108.7%
Share with a price cut before closing	24.2%	26.8%

The share of homes sold over asking was 45% in October 2025 (median close 100.0% of list) and 40% in October 2026 (median close 100.0% of list), with a 13-month peak of 64% in March 2026. By the share of homes selling over asking, San Jose is slightly less competitive than a year ago, with 42.9% of closings above list from August through October 2026 against 46.3% from August through October 2025.

Why San Jose buyers land right at asking

San Jose is a true at-list market: the median closing landed exactly at the list price, 42.9% of homes sold above asking and 46.2% sold below, so the right offer depends on the house, not the city. The premium shows up in the Willow Glen pockets (Willow Glen South and Lincoln Glen closed at a median 100.2% of list with 64.3% above asking), Valley View, Communication Hill and Basking Ridge, and in the $2,000,000 to $3,000,000 tier where 59.7% sold above asking. Downtown San Jose is the opposite: 31 closings at a median 2.3% below list and only 3.2% above asking, and The Villages retirement community closed 1.1% below. Compared with a year earlier, the share of homes selling over asking slipped from 46.3% to 42.9% and the 90th percentile premium eased from 10.7% to 8.7%, so buyers have slightly more room than they did in 2025.

The national picture

Nationally, Redfin's housing market update published October 29, 2026 (four weeks ending October 25, 2026) reported that 23.2% of U.S. homes sold above list price, the average sale-to-list ratio was 98.3%, 21.5% of listings had a price drop, pending sales were at the lowest level in Redfin's records and the median sale price fell 0.1% year over year, the first decline in more than three years.

In San Jose, 42.9% of homes sold above list and the median closing was at list price, so San Jose is far more competitive than the national market.

How to decide what to offer in San Jose

Start from the neighborhood table, not the citywide median. The median San Jose home closed at 100.0% of list, but neighborhoods ranged from a median 100.4% of list in Valley View / Reed to 97.7% in Downtown San Jose.
Check the days on market and the price-cut history of the listing. 26.8% of San Jose closings had a price cut before the sale, and a cut signals room below list. Homes that took more than 30 days closed at a median 97.9% of list.
Size the offer to the home. On a hot listing, the 75th percentile (102.8% of list) and the 90th percentile (108.7%) show what a competitive offer looked like. On a stale one, the median discount on below-list sales ($34,500 under list) is a sensible place to open.
Ask the listing agent how many offers are in and whether there is an offer date. An offer date means the seller is planning for competing bids, so your first offer should be your best one.
Have your agent pull the last five closings on the same street before you name a number. Recent sales next door beat any citywide figure, including the ones on this page.

Methodology

We looked at closings of single family homes, condos and townhouses in San Jose from our MLS feed, closed August through October 2026, with the same months of 2025 for the year-over-year comparison. "Close vs list" is the closing price divided by the list price in effect when the offer was accepted; "close vs original asking" uses the first list price. "Sold above list" means the closing price exceeded the list price by any amount. Neighborhood tables require at least 10 closings. Sales under $50,000 are excluded. Figures are medians unless stated. Published November 2026.

Frequently asked questions

How much over asking do you need to offer in San Jose?

The median San Jose home closed at list price (100.0% of list) between August and October 2026. When buyers paid over asking, the median premium was 3.8% over list, or $51,000. A quarter of homes closed at 102.8% of list or higher, and the most competitive one in ten closed at 108.7% of list or higher.

Do homes in San Jose sell over asking price?

Many do, but not most. 42.9% of San Jose homes in our feed sold above list between August and October 2026, 10.9% sold exactly at list and 46.2% sold below. A year earlier, 46.3% sold above list.

Which San Jose neighborhoods get the most offers over asking?

The highest closings against list in our feed were in Valley View / Reed (median 100.4% of list, 50.0% sold above asking), Communication Hill (median 100.4% of list, 50.0% sold above asking) and Basking Ridge (median 100.4% of list, 50.0% sold above asking). Buyers paid the least relative to asking in Downtown San Jose, at a median 97.7% of list.

Can you offer under asking in San Jose?

Yes, often. 46.2% of San Jose homes sold below list, at a median $34,500 under list, and 26.8% of closings had at least one price cut before the sale. Homes that took more than 30 days to go under contract closed at a median 97.9% of list, with 16.9% selling above asking.

Is San Jose more competitive than last year?

No, slightly less. 46.3% of San Jose homes sold above list from August through October 2025, against 42.9% from August through October 2026, and the median closing moved from 100.0% to 100.0% of list.

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