Mary Pope-Handy

Silicon Valley Realtor, selling homes in Los Gatos, Saratoga, San Jose, and nearby since 1993. Prolific blogger with a network of site.

Last Father’s Day, mid June 2017, we trekked to South County to do some fruit picking and fruit tasting at Andy’s Orchard in Morgan Hill. I highly recommend it, though the website for Andy’s Orchard says that their cherry harvest has been smaller than usual this year. They are again offering this event on Father’s Day 2018, but do check their website (see link below) to make sure that the tour you want is not sold out.

We walked through the orchard during the earliest available time slot since it was a heat wave weekend. The orchard had all kinds of varieties of cherries (I remember one with a funny name, the Black Republicans), but also pluats, nectarines, and a wide number of stone fruits, too. We were encouraged to taste as we went, and had no trouble complying. Many of us had buckets that we filled (and paid for the fruit later). It was so interesting to try one type of cherry after the next and to learn about how the trees are cared for.

Next was the open air tasting station, where we were able to enjoy and compare a huge number of apricots, peaches, nectarines, pluats, apriums, cherries, etc.  Had we known when we walk the orchard how much more food would be there for us, we might all have had a little more restraint. By the time we got to the tasting stations, I was already pretty full and well past the amount of fruit I should have had for that period of time.

Take a look at some of the photos to give you a sense of the vast offerings! What it does not well convey is how delicious the fruit was!

You can learn more about Andy’s Orchard and check out their event schedule at their website: https://andysorchard.com/

Andy's Orchard in Morgan Hill signAndys-Orchard-Morgan-Hill-old-style-fruit-bannerPicked fruitCherries on the tree - an orchard full of many varietiesinfo on Ranier cherriesPicking fruit at Andy's Orchard on Father's Day 2018fruit tasting stations with cherries apricots plums and moreCherry sizerBlack Tartarian cherriesSaylor cherryFlavorosa PluatCotton Candy ApriumJim Handy Father's Day 2017 at Andy's Orchard in Morgan Hill - Father's DayBeauty PlumPegasus NectarineKitren White Apricotgold dust peaches to tasteFruit tasting signcherries on the tree at Andy's orchard (Fruit to ship

The Milpitas real estate market is red hot, one of the hottest in Santa Clara County.  Last month, February 2018, the average sale price to list price ratio of houses or single family homes was a staggering 120.5%.  Only Sunnyvale ranked higher, at 121.5%.  The county average hit 112.4%.

Appreciation year over year is also well past “double digits” with 27.6% for the median sale price and 20.2% for the average sale price of Milpitas houses. The county average for the same period were 27.5% for the median sale price, and 25.4% for the average.

Milpitas Real Estate Market Trends at a Glance

You can always view the most current info on the Milpitas market on my RE Report (it’s updated between the 5th and 10th of each month). Like elsewhere in the valley, the Milpitas market seems to be cooling a bit. I think it is a seasonal fluctuation only, but we’ll have to watch it and see.

Trends At a Glance May 2018 Previous Month Year-over-Year
Median Price $1,238,890 (-4.7%) $1,300,000 $992,500 (+24.8%)
Average Price $1,291,110 (+1.6%) $1,270,460 $1,053,540 (+22.5%)
No. of Sales 23 (-8.0%) 25 32 (-28.1%)
Pending 28 (+40.0%) 20 39 (-28.2%)
Active 27 (+68.8%) 16 23 (+17.4%)
Sale vs. List Price 113.3% (0.0%) 113.3% 109.1% (+3.9%)
Days on Market 13 (+39.7%) 9 19 (-32.2%)
Days of Inventory 35 (+89.7%) 19 22 (+63.3%)

 

And a view of last month, for comparison:

 

Trends At a Glance Apr 2018 Previous Month Year-over-Year
Median Price $1,300,000 (+7.9%) $1,205,000 $1,095,000 (+18.7%)
Average Price $1,270,460 (-1.0%) $1,282,790 $1,042,590 (+21.9%)
No. of Sales 25 (+25.0%) 20 17 (+47.1%)
Pending 20 (-9.1%) 22 31 (-35.5%)
Active 16 (+60.0%) 10 28 (-42.9%)
Sale vs. List Price 113.3% (-5.4%) 119.7% 108.3% (+4.7%)
Days on Market (+21.3%) 8 (+17.5%)
Days of Inventory 19 (+23.7%) 15 48 (-61.1%)

 

For comparison, here’s a lineup of the Milpitas real estate market statistics side by side with other cities and towns in Santa Clara County. As you can see, prices are a little lower than the county averages, but the sale price to list price ratio is a bit higher.

 

 

Santa Clara County RE Stats

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Miramar Vineyards in San Martin sign - 700 pxRecently, my husband and I took a drive to San Martin to visit Miramar Vineyards. We hadn’t spent any time in San Martin in the past, but were generally aware that this South County community was located between Morgan Hill and Gilroy, so were interested in learning a bit more about the area, as well as enjoying some local wines at a place we hadn’t been to in the past.

It was a great choice!

Miramar was a hub of activity, apparently due to live music that was about to begin when we arrived. The folks there told me that they’d only been open two and one-half years so far, but you would not have known it from the crowd that day. The parking lot was nearly full and cars lined the road, too. Like finding a filled-to-the-brim restaurant with people waiting outside, we thought this might be a good sign.

buying wine and paying for wine tasting at Miramar

 

We didn’t wait long to get paid up so that we could do some tasting. The staff moved quickly, assisting customers who were there to buy wine or to pay for wine tasting. They reminded us that if we purchased a bottle of wine, one of the $10 tasting fees would be waived.  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 up more than 20% year over year and flat month over month. The single family home and condo market are both seller’s markets, but it’s a lot deeper for houses than for condominiums or townhomes.

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.

Trends at a Glance for Single Family Homes in Morgan Hill

Trends At a Glance May 2018 Previous Month Year-over-Year
Median Price $1,100,000 (0.0%) $1,100,000 $887,500 (+23.9%)
Average Price $1,130,880 (+0.7%) $1,122,850 $908,325 (+24.5%)
No. of Sales 55 (+17.0%) 47 50 (+10.0%)
Pending 59 (-3.3%) 61 80 (-26.3%)
Active 54 (+17.4%) 46 76 (-28.9%)
Sale vs. List Price 104.3% (0.0%) 104.3% 100.4% (+3.8%)
Days on Market 31 (-31.0%) 45 15 (+102.9%)
Days of Inventory 29 (+3.8%) 28 46 (-35.4%)

 

And the numbers from last month:

 

Trends At a Glance Apr 2018 Previous Month Year-over-Year
Median Price $1,100,000 (+10.0%) $1,000,000 $760,000 (+44.7%)
Average Price $1,122,850 (-0.4%) $1,126,810 $838,204 (+34.0%)
No. of Sales 47 (+42.4%) 33 24 (+95.8%)
Pending 61 (-12.9%) 70 65 (-6.2%)
Active 46 (+31.4%) 35 80 (-42.5%)
Sale vs. List Price 104.3% (+0.5%) 103.7% 102.4% (+1.8%)
Days on Market 45 (+92.4%) 24 27 (+70.0%)
Days of Inventory 28 (-10.8%) 32 97 (-70.6%)

 

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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, which uses sold data as well as active listings data. 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). The more moderate pricing tiers are faring better in Cupertino and in most of the valley than those in that luxury tier (think over $3 or $4 million for luxury tier in this city).

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, even after a bit of recent price cooling. The luxury market in Cupertino had a steep rise at the start of the year, but it appears to have peaked. What if we look back more than a year? Combining the quartiles, it seems that there’s been more up than down, though buyers will be happy to see the current trend is pointing down.

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

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Leo or Leona - the mascot of Los GatosThe Los Gatos real estate market is varied from one price point or school district to the next, but over all, this is a fairly stable period with some slight warming over the last couple of months. Here are the current numbers, per my Los Gatos real estate report (click on the link for full information).

The Los Gatos Mountains are a distinctly different market and as such are covered in a separate market update, updated less frequently than here, but with live Altos charts for that area.

Los Gatos / Monte Sereno housing values and pricing trends (aka “area 16” for our MLS, zip codes 95030 and 95032) – month over month, it’s been flattening out, but still up very substantially over a year ago.

Trends At a Glance May 2018 Previous Month Year-over-Year
Median Price $2,475,000 (+2.1%) $2,425,000 $1,960,000 (+26.3%)
Average Price $2,705,630 (+3.0%) $2,626,180 $2,160,620 (+25.2%)
No. of Sales 30 (0.0%) 30 33 (-9.1%)
Pending 46 (+48.4%) 31 53 (-13.2%)
Active 74 (+27.6%) 58 80 (-7.5%)
Sale vs. List Price 103.6% (-4.1%) 108.0% 101.5% (+2.0%)
Days on Market 25 (+27.7%) 20 26 (-5.0%)
Days of Inventory 74 (+32.0%) 56 73 (+1.7%)

And the chart from last month for reference:

Evergreen area of San Jose (Silicon Valley)The Evergreen area is in the southeast foothills of San Jose and extends north toward Eastridge Mall. It includes a few zip codes – 95148, 95121, 95135, and a portion of 95138 (part is also “Santa Teresa” or “South San Jose”). There’s a lot of diversity in this region – the areas in the flatlands near the Mall, Reid-Hillview Airport, and waterpark are more modest and affordable as compared to the areas further south where you’re more likely to see luxury properties (Hillstone, Bel-Aire Estates, The Meadowlands, The Ranch on Silver Creek, Silver Creek Valley Country Club and nearby). Pricier areas feature larger lots and houses and valley or hillside views set near the golf courses (Silver Creek Valley Country Club, The Ranch Golf Club, and the Villages Golf & Country Club).

In general, Evergreen is scenic and includes many newer homes and communities. Many people enjoy the relative newness of construction and whole neighborhoods which are young, compared to the rest of Santa Clara County and Silicon Valley as a whole.

Evergreen real estate market for single family homes or houses

Please find the full report on my Real Estate Report for the Evergreen area of San Jose.

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

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How is the Campbell real estate market?How is the Campbell real estate market?  Campbell is in a fairly strong seller’s market, but like the rest of the county, is in a period of leveling off in terms of pricing, numbers of offers, and sale price to list price ratio. 

If you’re selling, perhaps a few months ago, you’d have gotten 6 or 8 offers on your well prepared, beautifully staged, and aggressively priced home for sale. Now, maybe it is 3 or 4 offers instead. The offers are often coming in with no contingencies, but there just aren’t as many.  The massive overbids are becoming a little less massive.

Part of this seems to be seasonal fluctuation. In my 25 years of selling homes in the Santa Clara Valley,  I have seen that in MOST years, late spring and early summer sees a flattening of the market, sometimes even a slight decline in pricing, after the peak months of January through April. Last year, the market was so fiercely competitive that we didn’t see that pattern at all. One statistics expert said to me that “the pattern is broken”. But – it looks to me like it’s back

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.

And now –  here are some quick stats, care of my RE Report for Campbell:

CAMPBELL real estate market trends and statistics

Trends At a Glance May 2018 Previous Month Year-over-Year
Median Price $1,574,000 (+1.2%) $1,555,000 $1,250,000 (+25.9%)
Average Price $1,639,770 (+1.0%) $1,623,920 $1,273,540 (+28.8%)
No. of Sales 36 (+80.0%) 20 42 (-14.3%)
Pending 31 (+3.3%) 30 43 (-27.9%)
Active 29 (+26.1%) 23 18 (+61.1%)
Sale vs. List Price 109.7% (-2.7%) 112.7% 107.4% (+2.1%)
Days on Market 14 (+35.4%) 10 26 (-46.5%)
Days of Inventory 24 (-27.5%) 33 13 (+88.0%)

 

And last month’s chart for comparison:

 

What about the Campbell CA condo market?

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Bel Estos Drive near Carlton and Rosswood in San Jose's Cambrian areaMy Cambrian area of San Jose Real Estate Report was recently published with the updated numbers from the closed sales last month for this part of San Jose (95124 and 95118 with a little of 95008 too). Please click on the link above to see much more information there.

In this district of San Jose, we have been experiencing dreadfully low inventory of homes for sale, and buyers aren’t backing off as much as usual for this time of year – I believe because there is just a whole lot of pent up demand from upwards of two years in a deep seller’s market. What does that mean? Sellers, if you have a problem home, or one not updated or well maintained, this is the time to sell it – buyers have little to choose from so are purchasing properties that need more work than they would bother with in a more balanced market.

Want to learn more about Cambrian Park real estate, the Cambrian district, Cambrian neighborhoods, school districts and zip codes? Please also see this article: Cambrian Park: Good Schools, Low Crime, Close to Los Gatos and Campbell. Cambrian neighborhoods can be located at the menu bar: Neighborhoods –> San Jose (all areas) –> Cambrian Park (SJ).

Be sure to read to the end to see the live Altos charts too – they are near the end of the article so please keep reading into the next page!

Trends at a Glance

Trends At a Glance May 2018 Previous Month Year-over-Year
Median Price $1,396,000 (-2.4%) $1,430,000 $1,100,000 (+26.9%)
Average Price $1,425,020 (-2.1%) $1,456,070 $1,103,120 (+29.2%)
No. of Sales 72 (+10.8%) 65 57 (+26.3%)
Pending 54 (-3.6%) 56 56 (-3.6%)
Active 49 (+44.1%) 34 31 (+58.1%)
Sale vs. List Price 113.4% (-2.1%) 115.9% 105.8% (+7.2%)
Days on Market 10 (+13.4%) 9 13 (-21.7%)
Days of Inventory 20 (+34.6%) 15 16 (+25.1%)

And the chart from last month:

Generally speaking it is still a hot seller’s market and great time to sell a Cambrian home.

 Please see the whole Cambrian Real Estate Report for charts, stats and more.
Other related Cambrian district resources:
Learn about the Cambrian months of inventory, or absorption rate, by elementary school district.

The condo and townhouse real estate market for San Jose 95124 & 95118

Like most of Santa Clara County, the wild appreciation of the last 5 to 6 years in Blossom Valley seems to now be slowing, and maybe flattening.  It is possible that we have hit the “peak of the market”, but it’s also possible that this is simply a seasonal pattern. Often in late spring to early summer, we see inventory levels rise while buyers pull back. This can cause home sale prices to quite appreciating, and in some years, prices decline just a little bit. In 2017, it seemed that the normal patterns simply broke, as late in the year – November and December – buying was at a feverish pitch normally reserved for March.

About Blossom Valley

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:

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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.
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Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
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Top 25 real estate blogs of 2018 by RentPrep2018 RentPrep.com's list of top 25 real estate blogs to follow


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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