How’s the Mountain View real estate market? This is one of the very hottest areas within Silicon Valley and is home to a myriad of high tech companies and in a stone’s throw of others. With a charming and walkable downtown, easy access to CalTrain and a vibrant atmosphere conducive to both work and play, it is no wonder that people relocating to the San Francisco Bay Area or Silicon Valley place Mountain View squarely in their target.

All that popularity comes at a cost, though. Prices have been sky high here for years, both for rentals and for home purchasing. The good news, though, for those with property or those who take the plunge and buy: it doesn’t look like Mountain View is going to lose its appeal anytime soon.

In this article, which is updated periodically, we will include live Altos Charts which automatically update weekly (so bookmark this page!) as well as monthly insights from the Real Estate Report for Mountain View. And time to time it will be enhanced with “in the trenches” commentary, too.

Overview of the city of Mountain View’s residential real estate market for houses:

Here are the statistics for sales in the last few months. You can see that the average days on market have risen to 28 days and inventory is down slightly. Prices are up month-over-month with homes on average selling over list price at a whooping 110.5%. Overall, there’s been some warming in the Mountain View housing market, but this is still a steady seller’s market. See the whole Mountain View Real Estate Report online here.

 

Mountain View real estate market trends and data by neighborhood

My Real Estate Report drills down the data by neighborhood in Mountain View (and also Palo Alto and San Jose – the latter being very understandable as it’s almost 1 million people, rather than Mountain View’s 75,000 people). Want to check out these areas? Then visit popehandy.rereport.com, select Santa Clara County, then under city choose Mountain View, and under ZIPS select the area you want. Here are your options there:

Please continue reading to see the data for condominiums and townhouses, plus also the live Altos Research charts for both single family homes and also condos and townhomes.

Continue reading

The Sunnyvale real estate market has been trending upward for many months until recently, when we’ve been seeing a flattening of the Silicon Valley real estate market overall. In general, houses in Sunnyvale are selling for about a million six hundred thousand dollars – if they aren’t too small or in terrible shape (or conversely palatial or newly built or remodeled). Let’s begin with single family homes. The median list price for homes in Sunnyvale CA – all zip codes combined – interestingly, the high end homes are doing the best! (Live charts from Altos Research, which uses LIST prices, not sale prices.)

Sunnyvale real estate market: Altos Research, median list prices by quartile

Real Estate Market Chart by Altos Research www.altosresearch.com

What about the numbers for the closed sales? Now let’s have a look at the Sunnyvale CA RE Report for last month’s trends and statistics (click on link to get the full Sunnyvale real estate market report):

Trends At a Glance Jul 2017 Previous Month Year-over-Year
Median Price $1,730,000 (-4.9%) $1,820,000 $1,500,000 (+15.3%)
Average Price $1,654,260 (-7.8%) $1,794,320 $1,473,990 (+12.2%)
No. of Sales 59 (-4.8%) 62 55 (+7.3%)
Pending 40 (-23.1%) 52 45 (-11.1%)
Active 28 (+64.7%) 17 61 (-54.1%)
Sale vs. List Price 111.0% (-1.8%) 113.1% 107.0% (+3.7%)
Days on Market 18 (+23.6%) 15 16 (+12.5%)
Days of Inventory 14 (+79.0%) 8 33 (-57.2%)

What about the Sunnyvale condo and townhome market?

Continue reading

View from a high rise in downtown San Jose, looking east - Autumn 2011San Jose is the biggest city in Silicon Valley (and considers itself to be the Capital of Silicon Valley), is the tenth largest city in the United States of America with over 1 million in population, and it has a very large footprint – approximately 180 square miles. Because of the size, it isn’t surprising that many distinct neighborhoods exist within the city. In my blog you can find descriptions and outlines of these districts or neighborhoods. You can also find market analysis dedicated to different regions of San Jose. Because the areas are so different, the market in separate sectors of the city can change dramatically from one area to the next. If you are looking for a home in Silicon Valley, it is best to consider San Jose by its neighborhoods rather than as a whole to understand the market. Nonetheless, looking at the big picture can often give you a general taste for the market. Currently, it’s a steady sellers market.

Below you will find the Altos Research Charts, a live feed of data on the markets in San Jose. You will also find the RE Report, charts with statistics comparing sales in the last month and comparing them month-over-month and year-over-year. These are both the usual tools I use to gauge a market. Directly below are links to the market analysis of specific neighborhoods in San Jose. Some of these, where I work the most, are updated monthly, and others are updated every few months.

Altos Charts for San Jose as a Whole – automatically updated each week – single family homes

First, the basic charts for single family homes or houses. FYI, Altos uses LIST prices. The RE Report further down uses SOLD prices (which is part of the reason why I utilize both).

List prices of single family homes / houses by price quartile:

Real Estate Market Chart by Altos Research www.altosresearch.com

Average days on market of listed homes (houses) by pricing tier:

Real Estate Market Chart by Altos Research www.altosresearch.com

Inventory levels for the last 3 years for houses for sale in San Jose:

Real Estate Market Chart by Altos Research www.altosresearch.com

 

Altos Research charts for the condomium and townhouse market in San Jose – automatically updated each week

Condominium and townhouse LIST prices by quartile: Continue reading

How’s the Cupertino real estate market?

Cupertino - view from Ridge Vineyards

Cupertino – view from Ridge Vineyards

The real estate market in Silicon Valley can sometimes be a little quirky, so I like to approach this question from a few angles. In this article I’ll make use of  my charts from Altos Research, which uses listing data (not solds) and is automatically updated every week and also monthly reports from my RE Report subscription. Also I’ll periodically update it with info from the MLS that I have crunched myself or anecdotal stories from those of us “in the trenches.” The article is a bit long but I think much more comprehensive giving the multiple methods of answering the question of how the Cupertino real estate market is faring.

Cupertino median list price of houses by price quartile

Often the real estate market in any given city is very different between the most expensive homes and the most affordable ones. While many Cupertino home buyers are looking for a short commute, great public schools or strong resale value, some seek a luxury property with a view in the Cupertino hills (either off of Montevina Road by Ridge Vineyards or in other lower foothills).
Real Estate Market Chart by Altos Research www.altosresearch.com

The last few months have had some ups and downs in pricing, but most segments of the Cupertino real estate market have seen an overall uptick since last year. The luxury market in Cupertino had some calming over summer, but is back on the rise again. What if we look back more than a year? Combining the quartiles, it seems that there’s been more up than down.

Real Estate Market Chart by Altos Research www.altosresearch.com

Continue reading

The Santa Clara County real estate statistics for Single Family Homes

 Read the full report for houses and duet homes in Santa Clara County here (You can also access the stats for San Mateo and Santa Cruz Counties from here!)

Prices are up year over year after a prolonged, unrelenting sellers market. Available inventory is less than half that of a year ago, while sales remain consistent. This is bad news for buyers – the market conditions can’t balance out without inventory to meet the demand!

Trends At a Glance Aug 2017 Previous Month Year-over-Year
Median Price $1,151,000 (-2.0%) $1,175,000 $980,000 (+17.4%)
Average Price $1,423,440 (+1.0%) $1,409,380 $1,260,500 (+12.9%)
No. of Sales 986 (-2.9%) 1,015 917 (+7.5%)
Pending 947 (+1.7%) 931 1,028 (-7.9%)
Active 630 (-22.8%) 816 1,626 (-61.3%)
Sale vs. List Price 106.4% (+0.8%) 105.5% 101.4% (+4.9%)
Days on Market 19 (-5.2%) 20 29 (-33.9%)
Days of Inventory 19 (-20.5%) 24 53 (-64.0%)

And the numbers from last month for comparison:

Trends At a Glance Jul 2017 Previous Month Year-over-Year
Median Price $1,175,000 (-0.4%) $1,180,000 $1,038,750 (+13.1%)
Average Price $1,409,380 (-2.4%) $1,444,410 $1,273,720 (+10.7%)
No. of Sales 1,015 (-15.9%) 1,207 918 (+10.6%)
Pending 931 (-13.9%) 1,081 959 (-2.9%)
Active 816 (-4.4%) 854 1,747 (-53.3%)
Sale vs. List Price 105.5% (-0.4%) 105.9% 102.1% (+3.3%)
Days on Market 20 (+10.6%) 18 23 (-13.2%)
Days of Inventory 24 (+17.5%) 21 57 (-57.8%)

Continue reading

The Blossom Valley area of San Jose is on the south end of the city and covers the 95123 and 95136 zip codes. For our MLS, it’s “area 12.” A more affordable section of Silicon Valley, Blossom Valley has much to offer in addition to more reasonable housing prices. Many areas enjoy views of the Santa Teresa Foothills or the Communications Hill knolls or even the coastal foothills in the distance, as with the photo below. One corner of it sits alongside beautiful Almaden Lake, too. One corner is located at the crossroads of Highways 85 and 87, making it an easy commute destination for those working in downtown San Jose. And there’s an abundance of shopping opportunities.

Blossom Valley from the Church on the Hill

Much more could be written, but let’s now instead turn to the real estate market there.

First, “live,” automatically updating Altos Charts for San Jose 95123 and 95136 and single family homes (houses and duet homes). These use list prices, not sales prices.

The median list price of both 95123 and 95136, all prices, single family homes (houses and duet homes, if there are any).

Real Estate Market Chart by Altos Research www.altosresearch.com

Next, the median list price for just the San Jose 95123 area of Blossom Valley, and separated by price quartile:

Real Estate Market Chart by Altos Research www.altosresearch.com

And next, the median list price of just San Jose 95136 by price quartile:

Continue reading

Morgan Hill land along the Uvas RiverHow’s the real estate market in Morgan Hill? This article will include data, trends and statistics for both houses and condominiums/townhouses.

For the single family home segment in this “south county” town, prices are mostly consistent year over year and month over month. The sale price to list price ratio has been hovering mostly between 98% and 100% for months. The cities of Morgan Hill and Gilroy are usually a bit less in demand than parts of Santa Clara County which are either tech magnets or closer to these big businesses. So while most of the Silicon Valley has a sale price to list price ratio of anywhere from 100% to 110%, it’s generally lower here, making the home buying conditions calmer for weary buyers, though still a sellers market. Below is a chart with basic info, but to see more information, you may click on this link to see the Real Estate Report for Morgan Hill.

Continue reading

Silver Leaf Park in the Santa Teresa area of San Jose - the proximity of parks will impact the Santa Teresa real estate market for that neighborhood

Silver Leaf Park in the Santa Teresa area of San Jose

How’s the market in the scenic Santa Teresa area of San Jose? The part of Silicon Valley is usually a bit “softer” as it’s farther from most work places and the school scores are generally not super strong, either. That being said, the Santa Teresa real estate market, like most of Santa Clara County, has been heating up all summer long. The average Days on Market are low at a mere 12 days. The sales to list price ratio remains well over list price at 105.2%. This shows that this seller’s market has not budged since last month. Santa Teresa is in a hot seller’s market.

Here’s quick view of the real estate statistic and trends for just the Santa Teresa area’s single family homes (houses / duet homes):

Santa Teresa real estate market stats & trends

Trends At a Glance Aug 2017 Previous Month Year-over-Year
Median Price $875,000 (-2.9%) $901,000 $820,000 (+6.7%)
Average Price $896,360 (-0.9%) $904,667 $832,694 (+7.6%)
No. of Sales 25 (-7.4%) 27 29 (-13.8%)
Pending 23 (+15.0%) 20 20 (+15.0%)
Active (-58.3%) 12 19 (-73.7%)
Sale vs. List Price 105.2% (+0.3%) 104.9% 100.9% (+4.2%)
Days on Market 12 (-6.7%) 13 27 (-55.1%)
Days of Inventory (-55.0%) 13 20 (-69.5%)

And from last month, for comparison, the Santa Teresa real estate market:

Trends At a Glance Jul 2017 Previous Month Year-over-Year
Median Price $901,000 (+3.9%) $867,500 $795,000 (+13.3%)
Average Price $904,667 (+0.3%) $901,636 $803,583 (+12.6%)
No. of Sales 27 (-25.0%) 36 23 (+17.4%)
Pending 20 (-25.9%) 27 34 (-41.2%)
Active 12 (+71.4%) 7 28 (-57.1%)
Sale vs. List Price 104.9% (+0.5%) 104.5% 103.8% (+1.1%)
Days on Market 13 (-14.8%) 15 15 (-17.2%)
Days of Inventory 13 (+136.5%) 6 37 (-63.5%)

You can read the Santa Teresa area real estate market report at this link if you’d like more details and statistical analysis. This particular page goes to the report for houses, but you can navigate home type to see condos/townhomes or any other area in San Jose, Santa Clara County, San Mateo County, or Santa Cruz County.

 Also, please note that zip codes don’t always relate to the districts. Zip code 95138 is a great example of that as part of it is in Santa Teresa and part in Evergreen (pricey and upscale Silver Creek). Pull up the averages for 95138 and you might think all the homes are selling for around $1.4 million. But if you look in the charming but more affordable Silver Leaf area of the same zip code, you’ll find the cost half as much – or less! So too with 95123 (though less dramatic) as about half of that is in Blossom Valley and part in Santa Teresa.
It’s good to do a lot of research, but beware the “easy answers” of price per square foot or average sales price per zip code. Often your best help will come from a highly experienced real estate professional who’s willing to help you to crunch the numbers for the Santa Teresa real estate market (boring grunt work but not actually difficult).
And don’t forget the condo market! This can be even more difficult to pin down because of the small amount of data and the wide variety of values. Here’s a quick look at the current Santa Teresa condo market from the RE Report data:
Trends At a Glance Aug 2017 Previous Month Year-over-Year
Median Price $688,000 (-8.1%) $748,942 $547,500 (+25.7%)
Average Price $653,857 (-6.7%) $700,814 $567,539 (+15.2%)
No. of Sales (-41.7%) 12 10 (-30.0%)
Pending 16 (+23.1%) 13 (+77.8%)
Active (-60.0%) 5 16 (-87.5%)
Sale vs. List Price 104.1% (+1.5%) 102.6% 101.7% (+2.4%)
Days on Market (-62.4%) 22 15 (-44.2%)
Days of Inventory (-31.4%) 13 48 (-82.1%)
Disclaimers made, here are some Altos Research numbers for the four Santa Teresa zip codes:

Real Estate Market Chart by Altos Research www.altosresearch.com

You’ll note that one of the four zips is super high – this is 95138, which has a number of homes in The Ranch, a subdivision in Evergreen near Silver Creek. The part of 95138 which is in Santa Teresa is considerably more affordable, well under $1 million in the vast majority of cases. So let’s take that one out so we can get a better feel for the true pricing of Santa Teresa homes.

Real Estate Market Chart by Altos Research www.altosresearch.com

Here two of the zip codes seem to be on track with each other, but 95123 is going at a different pace. Half of that area is Blossom Valley, which tends to be a stronger market. Regardless, it would seem that overall, the median list price of homes for sale in Santa Teresa has gone from the mid 700 thousands to the mid 800 thousands over the last year. And that’s about what I have seen, anecdotally, too.

Santa Teresa homes for sale

Interested in buying a house, townhouse or condominium in the Santa Teresa area? Below, please check out a list of available properties, listed in order of most recently added to the MLS first. Or better yet, call or email me to discuss working together!

 

  1. 4 beds, 2 baths
    Home size: 1,623 sq ft
    Lot size: 5,998 sqft
  2. 2 beds, 2 baths
    Home size: 1,257 sq ft
    Lot size: 1,258 sqft
  3. 4 beds, 3 baths
    Home size: 2,137 sq ft
    Lot size: 6,050 sqft
  4. 3 beds, 2 baths
    Home size: 1,512 sq ft
    Lot size: 6,873 sqft
  5. 3 beds, 4 baths
    Home size: 1,793 sq ft
    Lot size: 993 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 9/19/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

How is the Campbell real estate market?How is the Campbell real estate market? Here are the numbers, but what do those numbers mean? The sales vs list price remains well over 100%, over 106% again this month, and the average days on market remain low at 13 days. Campbell is in a strong seller’s market.

Further down in this article, we’ll utilize the graphs from Altos Research, which uses list prices, and check out the trends in pricing by quartile in this zip code (meaning 4 groups based on the pricing tier from least to most expensive). Campbell condominiums and townhomes will be considered as well. And finally, a list of homes for sale in Campbell will be found at the bottom of the post.

First, here are some quick stats, care of my RE Report for Campbell:

What about the Campbell CA condo market?

Continue reading

Cambrian Park Plaza SignThe months of inventory for any part of the real estate market can vary, depending on many factors, including age of home, house size, lot size, and school district, whether or not there’s a pool, and many other things. It can be very useful to understand this metric when selling a Silicon Valley home. I’ve done market numbers crunching tied to the specific characteristics of a property (say, small yard with pool or big yard with no pool) to find the impact of those characteristics on the probability that a home will sell – or how fast.

The Cambrian area of San Jose is a very “hot market” overall, but it can be confusing to know how hot it really is, just like the rest of Santa Clara County, because there are multiple school districts – and schools are probably the number one driver of home values in this highly educated valley.

An explanation of “months of inventory”

What does “months of inventory” mean? This figure references how long it would take to sell a property if homes continued to sell and close at the current pace with no new inventory coming on the market. A good analogy is to consider a bathtub which drains. If you add no new water to the tub, how long will it take to empty out?

The months of inventory is sometimes called the absorption rate. The question is simple: how long will it take for the current inventory of homes for sale to get absorbed by the home buyers purchasing them? It doesn’t have to be calculated by months. It could be in days, weeks, or years. But months is probably most common.

The Cambrian area of San Jose’s months of inventory as a whole, and in one price point

Cambrian was once an enormous zone of the Santa Clara Valley. Today we mostly think of it as within San Jose in the 95124 and 95118 zip codes. Some of it it adjacent to Campbell – a very tiny sliver is IN Campbell, and a tinier still area is in San Jose and is under the Campbell School Union District. Most of this area is in one of three elementary school districts: Cambrian, Union, or San Jose Unified.

Here’s the breakdown – first, for ALL of Cambrian (MLS area 14 for my Realtor readers) that’s within the City of San Jose and second, by elementary school district. The area for Campbell Elementary is so small that the numbers are usually not of use (no offense to the Campbell school residents). It can just jump around too much to be helpful and often gives us no usable data. Please have a look:

I highlighted the Cambrian Elementary School District in both charts as the current lowest MOI. You’ll see that past charts show the fastest market shifts around. Aside from Campbell, which has numbers too small to register a MOI, these are the hottest tickets in the district.

Here are the numbers from two months ago for comparison:

The message I’d like to convey is this: you can read about information for your part of Silicon Valley, or your city or zip code, but it’s not until you drill things down to an area that closely matches your own home will you have a better sense of your own home’s “real estate marker.” It’s never “how is the market?” so much as “how’s the market for YOUR home – or the one you want to buy?”

If you were only tracking Cambrian, you might see 0.519 months of inventory. That’s a lightning fast seller’s market. But it’s not nearly as good if you’re selling in the area with San Jose Unified Elementary Schools in the entry-level market. There, you’re looking at over 0.6 months of inventory for homes around $1 million, while the same price point with Cambrian Schools is a mere 0.167, and Union is 0.375 months.

Years ago, I had a Willow Glen listing where the whole back yard was the pool. I did a study on the months of inventory and learned that pools in properties with that lot size took substantially more time to be absorbed. Likewise, I had a Los Gatos estate property on an acre of land, and the reverse was also true: the months of inventory showed that large lots on $2 million and up homes for sale did not sell nearly as well without a pool.

The math is simple: using the same criteria, divide the number of active listings by those of homes sold in the last 30 days. The criteria can be anything you like – a property’s size, location, number of bathrooms, price, age, etc. Often I include approximately the same home and lot size together with the school district. That usually provides much more accurate info on “how’s the market” as compared to just getting it by zip code alone.

If you are looking to buy or sell a home in Cambrian, or anywhere in San Jose or Santa Clara County, this kind of information is really important. It is not hard to do, but very few real estate agents will provide this information before you list or before you make the final determination on the list price of your home.

Looking for a good Silicon Valley Realtor who will get you that extra data? Please call or email me. I would love to chat to see about possibly working together.

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Mary Pope-Handy

Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.

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Use the widget below to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now? Use the "find a home" link on the menu above (next to the "home" button).

Mary’s other sites & blogs

Valley Of Hearts Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling

Silicon Valley Real Estate Report
Silicon Valley real estate
market trends & statistics

Mary’s Blog Awards

Top 25 real estate blogs 2016
2016: Personal Income's list of top 25 real estate blogs.


Best Realtor blog award
2016: Coastal Group OC's list of best Realtor blogs


The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

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