Almaden Valley Real Estate Market Conditions
How’s the Almaden Valley real estate market? Prices appear to have been rising, but slipped some this last month. There’s not much inventory in this part of the valley so it remains a seller’s market, incredibly. A fairly nice 4 bed, 2 bath house in most parts of the San Jose 95120 zip code will still cost about a million dollars (more if it’s in the best areas with best schools and best condition). A smaller 3-4 bedroom townhouse with good schools will be about half that much unless it’s really young and highly upgraded.
Average Days on Market & Sale to List Price Ratio for Almaden Valley (San Jose, CA 95120) houses in 2011:
Date is between Jan 2011 and Dec 2011
Number of Homes For Sale vs Sold for Almaden Houses on the Market
Date is between Jan 2011 and Dec 2011
Results calculated from approximately 570 listings
Listings by Price Range
Date is between Feb 2011 and Jan 2012
Sales by price range
Date is between Jan 2011 and Dec 2011
For more info please see my Almaden Valley real estate report.
Houses, sales, pendings, prices in San Jose 95120 for November 2011 – note that they are down month over month and year over year BUT if you go back to October, they were way, way up (double digit). It’s helpful to have the “big picture” and not focus on just a small amount of data. Reviewing several months in a row we see some ups, some down – mostly down (in single or double digits) but when up, it was way up (20-40%). No easy answers here.
| Trends At a Glance | Nov 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $935,000 | $1,075,000 (-13.0%) | $950,000 (-1.6%) |
| Average Price | $1,007,750 | $1,144,880 (-12.0%) | $1,123,800 (-10.3%) |
| No. of Sales | 19 | 27 (-29.6%) | 21 (-9.5%) |
| Pending Properties | 31 | 35 (-11.4%) | 45 (-31.1%) |
| Active | 55 | 68 (-19.1%) | 93 (-40.9%) |
| Sale vs. List Price | 98.8% | 97.0% (+1.9%) | 97.5% (+1.3%) |
| Days on Market | 47 | 52 (-8.7%) | 40 (+18.2%) |
Numbers for October – notice the big jump from September in pricing!
| Trends At a Glance | Oct 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $1,075,000 | $822,000 (+30.8%) | $885,000 (+21.5%) |
| Average Price | $1,144,880 | $815,646 (+40.4%) | $910,012 (+25.8%) |
| No. of Sales | 27 | 24 (+12.5%) | 22 (+22.7%) |
| Pending Properties | 35 | 42 (-16.7%) | 41 (-14.6%) |
| Active | 68 | 67 (+1.5%) | 111 (-38.7%) |
| Sale vs. List Price | 97.0% | 95.6% (+1.4%) | 97.4% (-0.5%) |
| Days on Market | 52 | 46 (+13.6%) | 36 (+42.2%) |
The list price to sales price ratio moved up but days on market and number of pendings were off from the month prior – though not year over year. Compared to a year ago, prices are up and all is rosier except the days on market. Buyers may be having trouble adjusting to the rising prices in Almaden.
| Trends At a Glance | Sep 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $822,000 | $835,000 (-1.6%) | $931,000 (-11.7%) |
| Average Price | $815,646 | $868,909 (-6.1%) | $967,599 (-15.7%) |
| No. of Sales | 24 | 39 (-38.5%) | 27 (-11.1%) |
| Pending Properties | 42 | 37 (+13.5%) | 34 (+23.5%) |
| Active | 67 | 83 (-19.3%) | 124 (-46.0%) |
| Sale vs. List Price | 95.6% | 97.1% (-1.6%) | 98.3% (-2.8%) |
| Days on Market | 46 | 62 (-26.4%) | 37 (+24.1%) |
And August:
| Trends At a Glance | Aug 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $835,000 | $926,000 (-9.8%) | $932,500 (-10.5%) |
| Average Price | $868,909 | $1,038,120 (-16.3%) | $997,688 (-12.9%) |
| No. of Sales | 39 | 20 (+95.0%) | 32 (+21.9%) |
| Pending Properties | 37 | 53 (-30.2%) | 46 (-19.6%) |
| Active | 83 | 93 (-10.8%) | 121 (-31.4%) |
| Sale vs. List Price | 97.1% | 97.0% (+0.2%) | 99.0% (-1.9%) |
| Days on Market | 62 | 65 (-5.7%) | 36 (+70.9%) |
CONDOS
Next the Almaden Valley condo market. It’s improved over last month! Some quick stats:
Sales fell 0.0% from the month before, and were up 200.0% year-over-year. Prices improved in Sep 2011 with the median price climbing 11.6% from the previous month, down 23% compared to last year. The average price rose 22.9%, a yearly loss of 15.7%. Inventory fell 0.0% from last month, and was down 23.8% year-over-year.
| Trends At a Glance | Nov 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $577,000 | $495,000 (+16.6%) | $620,000 (-6.9%) |
| Average Price | $577,000 | $498,333 (+15.8%) | $620,000 (-6.9%) |
| No. of Sales | 2 | 3 (-33.3%) | 2 (0.0%) |
| Pending Properties | 3 | 3 (0.0%) | 3 (0.0%) |
| Active | 11 | 11 (0.0%) | 16 (-31.3%) |
| Sale vs. List Price | 97.5% | 98.4% (-1.0%) | 95.6% (+1.9%) |
| Days on Market | 118 | 93 (+25.9%) | 34 (+250.8%) |
October:
| Trends At a Glance | Oct 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $495,000 | $512,000 (-3.3%) | $683,000 (-27.5%) |
| Average Price | $498,333 | $560,667 (-11.1%) | $715,250 (-30.3%) |
| No. of Sales | 3 | 3 (0.0%) | 4 (-25.0%) |
| Pending Properties | 3 | 4 (-25.0%) | 2 (+50.0%) |
| Active | 11 | 12 (-8.3%) | 15 (-26.7%) |
| Sale vs. List Price | 98.4% | 98.0% (+0.4%) | 95.4% (+3.2%) |
| Days on Market | 93 | 67 (+40.0%) | 40 (+134.8%) |
September:
| Trends At a Glance | Sep 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $512,000 | $458,900 (+11.6%) | $665,000 (-23.0%) |
| Average Price | $560,667 | $456,300 (+22.9%) | $665,000 (-15.7%) |
| No. of Sales | 3 | 3 (0.0%) | 1 (+200.0%) |
| Pending Properties | 4 | 5 (-20.0%) | 7 (-42.9%) |
| Active | 12 | 11 (+9.1%) | 14 (-14.3%) |
| Sale vs. List Price | 98.0% | 97.3% (+0.7%) | 95.3% (+2.8%) |
| Days on Market | 67 | 91 (-27.0%) | 25 (+166.7%) |
And for August:
| Trends At a Glance | Aug 2011 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $458,900 | $565,000 (-18.8%) | $635,000 (-27.7%) |
| Average Price | $456,300 | $555,200 (-17.8%) | $635,000 (-28.1%) |
| No. of Sales | 3 | 5 (-40.0%) | 2 (+50.0%) |
| Pending Properties | 5 | 5 (0.0%) | 3 (+66.7%) |
| Active | 11 | 13 (-15.4%) | 16 (-31.3%) |
| Sale vs. List Price | 97.3% | 98.1% (-0.9%) | 98.4% (-1.1%) |
| Days on Market | 91 | 103 (-11.7%) | 7 (+1,121.0%) |
Next let’s have a multi year look at the Almaden Valley real estate market. Below please notice the supply & demand graph going back to late 2007. Although it’s been a “wild ride”, you can see a very clear pattern emerge that around December or January of eacy year, inventory falls (the dark gray line) and relative to the months just before or after, these tend to be “better” for sellers. What’s happening? The available supply of homes tends to diminish over the holidays. Prices are perhaps softer than at other times of the year. Buyers who need to buy, do buy. The odds of selling are actually higher, in many cases, during this time of year than others!
Here are a few quick stats from Altos Research (which will be automatically updated weekly and to which I have a subscription) – these are based on the list price of townhouses, condominiums and houses for sale in San Jose’s Almaden Valley 95120 area:
| 90-day stats for Single Family properties in SAN JOSE, CA95120 as of October 7, 2011 | |||
|---|---|---|---|
| Median List Price: | $927,953 | Average List Price: | $1,056,795 |
| Total Inventory: | 129 | Price per Square Foot: | $405 |
| Average Home Size: | 2,414 | Median Lot Size: | 8,580 |
| Average # Beds: | 4.04 | Average # Baths: | 2.72 |
| Homes Absorbed: | 11 | Newly Listed: | 8 |
| Days on Market: | 113 | Average Age: | 36 |
| 90-day stats for Condo properties in SAN JOSE, CA95120 as of October 7, 2011 | |||
|---|---|---|---|
| Median List Price: | $606,104 | Average List Price: | $637,011 |
| Total Inventory: | 17 | Price per Square Foot: | $365 |
| Average Home Size: | 1,674 | Median Lot Size: | n/a |
| Average # Beds: | 2.79 | Average # Baths: | 2.34 |
| Homes Absorbed: | 1 | Newly Listed: | 1 |
| Days on Market: | 178 | Average Age: | 26 |
The residential real estate market in San Jose’s Almaden Valley area was a “hot seller’s market” early this year due to more demand than supply but it is cooling slightly now, which will be a great relief to frustrated home buyers, but it has not been giving them the big influx of inventory they’d like to see.
Tags: 95120, Almaden Valley (SJ), Almaden Valley real estate, buyer's market, market conditions, san jose, seller's market