Market Reports

Silicon Valley Real Estate Market Reports

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.

Evergreen Stats At A Glance

Year-Over-Year

  • Median home prices increased by 3.2% year-over-year to $974,944 from $945,000.
  • The average home sales price rose by 5.8% year-over-year to $1,096,830 from $1,036,400.
  • Home sales fell by 17.2% year-over-year to 24 from 29.
  • Active listings fell 8% year-over-year to 92 from 100.
  • Sales price vs. list price ratio rose by 0.0% year-over-year to 101.3% from 101.3%.
  • The average days on market fell by 12.1% year-over-year to 35 from 40.

Compared To Last Month

  • Median home prices improved by 3.9% to $974,944 from $938,725.
  • The average home sales price rose by 1.5% to $1,096,830 from $1,080,800.
  • Home sales down by 7.7% to 24 from 26.
  • Active listings increased 27.8% to 92 from 72.
  • Sales price vs. list price ratio dropped by 0.0% to 101.3% from 101.3%.
  • The average days on market increased by 50.3% to 35 from 23.

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

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The Santa Clara Women's Club http://www.santaclarawomansclub.org/

The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/

The real estate market in the city of Santa Clara, like the rest of Silicon Valley, is a strong sellers market still. Below there are charts for the activities over the last few months. Low inventory from the past year and continuous low inventory around the rest of the Valley means there is still a much greater demand to fill than properties available. This is clear in the sales price vs list price, which has risen to 107.5%, but has generally remained around 103% for months. Also, the speed of market turnover (how long a house is on the market) has remained low as far back as we can see on these charts and in under a month. Further in the article, we’ll check in on the condo market, too.

Here’s a glance at the single family home statistics and trends for closings and listings for last month – updated each month on about the 5th – 10th on my RE Report site for realty stats & trends in Santa Clara:

How’s the Saratoga California real estate market?

Orchard and Hills in Saratoga, California

Orchard and Hills in Saratoga, California

This is a fairly comprehensive article on the Saratoga real estate market that will include the live statistics from Altos Research for listed properties (not closed) in Saratoga CA 95070, the closed sale data from the RE Report for last month in Saratoga 95070, and the numbers I crunched for Saratoga – overall and by price point and high school district, since Saratoga has 3 different high school districts, each with an impact on home values.

First, let’s consider the months of inventory by price point and high school district that I crunched using MLSListings.com, our local multiple listing service provider.

The months of inventory is a reference to how fast homes would be absorbed into the market if sales continued at the same pace and no new inventory came onto the market. It’s often referred to as “the absorption rate” – and that can be months of inventory, weeks of inventory, or days of inventory. A “balanced” market is somewhere around 4-5 months for us, though the National Association of Realtors says that 6 months is balanced nationwide. Anything under 3 is a good seller’s market, and under 1 is like saying that homes are “flying off the market.”

(For comparison, please also see a similar article on the Live in Los Gatos blog for the town of Los Gatos – real estate market by price point and high school district.)

Here’s the chart for Saratoga – all price points, all school districts.

And for comparison, here’s the chart from last month:

This month shows steady, low inventory with increasing sales, creating a higher MOI. Despite winter cooling, the market just won’t let up, and an overall 2.375 MOI is still a sellers market. By comparing across school districts you can see how different each area’s individual market can be. The overall MOI for different schools this month ranges from 1.8 to 2.778. Small levels of inventory can create big data swings like, and can make for not the most accurate charts. Nonetheless, we can still spot market trends if we know where to look.

 

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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 over 100% and the average days on market are low at 29 days. Campbell is still in a seller’s market, despite a general cooling.

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?

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Willow Glen in San JoseWillow Glen is perhaps the most charming residential area of the city of San Jose with its old style architecture, tree lined streets and quaint downtown area on Lincoln Avenue and nearby. For folks working in downtown San Jose, the Willow Glen area (roughly the same as 95125 zip code, though a bit of 95124 is included also) is extremely convenient. Inventory hasn’t improved since last year, and homes continually sell close to list price quickly, in just over a month. Willow Glen remains in a sellers market.

Click for the complete Willow Glen real estate report with all of the numbers, stats and trends from the closed sales of houses for last month. Further down in this article you’ll find the Altos Research charts as well.

Willow Glen Stats At A Glance

Year-Over-Year

  • Median home prices fell by 5.6% year-over-year to $1,175,000 from $1,245,000.
  • The average home sales price dropped by 4.2% year-over-year to $1,250,760 from $1,305,670.
  • Home sales rose by 39.4% year-over-year to 46 from 33.
  • Active listings fell 14.9% year-over-year to 74 from 87.
  • Sales price vs. list price ratio fell by 0.1% year-over-year to 102.2% from 102.3%.
  • The average days on market rose by 0.3% year-over-year to 29 from 29.

Compared To Last Month

  • Median home prices slipped by 0.2% to $1,175,000 from $1,177,250.
  • The average home sales price fell by 2% to $1,250,760 from $1,276,250.
  • Home sales up by 64.3% to 46 from 28.
  • Active listings increased 7.2% to 74 from 69.
  • Sales price vs. list price ratio increased by 2.2% to 102.2% from 100.0%.
  • The average days on market dropped by 23% to 29 from 38.

A little cooling won’t take us out of a deep sellers market, but it should ease conditions slightly for long-term buyers.

And next, of Willow Glen condos:

Continue reading

Almaden Valley homes for sale and real estate market conditionsThe Almaden Valley real estate market is still in a stable sellers market. Winter brought about a steep drop in inventory. There must be either a lot more inventory, or significantly less demand, before we see anything close to a balanced market. The Almaden Valley market is noticing minor softening, with homes selling, on average, a little over list price at 102.2%. That being said, turnover has sped up to an average of 32 days on market (or DOM). This kind of major and sudden swing in data is often caused by one or two listings of exception, in this case taking much longer to sell than their counterparts. Almaden Valley is still in a hot sellers market.

Please find the current statistics for single family homes (houses & duet homes) from my Almaden Valley real estate report (click on link for more info):

Almaden Valley San Jose 95120 Real Estate Statistics At A Glance

Year-Over-Year

  • Median home prices increased by 13.4% year-over-year to $1,400,000 from $1,235,000.
  • The average home sales price rose by 12.2% year-over-year to $1,459,530 from $1,300,310.
  • Home sales rose by 64.3% year-over-year to 23 from 14.
  • Active listings fell 24.1% year-over-year to 44 from 58.
  • Sales price vs. list price ratio rose by 2.7% year-over-year to 102.2% from 99.5%.
  • The average days on market fell by 19.7% year-over-year to 32 from 40.

Compared To Last Month

  • Median home prices improved by 4.7% to $1,400,000 from $1,337,500.
  • The average home sales price fell by 0.0% to $1,459,530 from $1,459,620.
  • Home sales up by 91.7% to 23 from 12.
  • Active listings dropped 0.0% to 44 from 44.
  • Sales price vs. list price ratio dropped by 0.4% to 102.2% from 102.6%.
  • The average days on market dropped by 62.1% to 32 from 85.

The data shows a strong sellers market remaining fairly consistent despite increasing inventory. The best homes will still see multiple offers, a response to low inventory and high demand.

Altos Research charts for houses in Almaden (San Jose 95120)

Please note that Altos Research uses list prices of Almaden Valley homes for sale, not sold prices.

An overview:

90-day stats for Single Family properties in
SAN JOSE, CA 95120 as of March 24, 2017
Median List Price:$1,580,427Average List Price:$1,972,244
Total Inventory:45Price per Square Foot:$604
Average Home Size:2,846Median Lot Size:11,795
Average # Beds:4.32Average # Baths:3.43
Homes Absorbed:7Newly Listed:6
Days on Market:149Average Age:36

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

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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 nearly two years of 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

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!

Cambrian area sales at a glance:

Year-Over-Year

  • Median home prices increased by 7.2% year-over-year to $1,080,000 from $1,007,500.
  • The average home sales price rose by 1.8% year-over-year to $1,093,360 from $1,073,590.
  • Home sales rose by 27.3% year-over-year to 28 from 22.
  • Active listings fell 15.7% year-over-year to 59 from 70.
  • Sales price vs. list price ratio rose by 0.2% year-over-year to 106.9% from 106.6%.
  • The average days on market rose by 59.0% year-over-year to 19 from 12.

Compared To Last Month

  • Median home prices improved by 13.1% to $1,080,000 from $955,000.
  • The average home sales price rose by 7.7% to $1,093,360 from $1,015,240.
  • Home sales up by 33.3% to 28 from 21.
  • Active listings increased 31.1% to 59 from 45.
  • Sales price vs. list price ratio increased by 4.8% to 106.9% from 102.0%.
  • The average days on market dropped by 37.6% to 19 from 30.

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.

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

The Monte Sereno real estate market is similar to Los Gatos, but distinct - Monte Sereno shares many features with Los Gatos but is a distinct cityHow is the Monte Sereno real estate market? Because the city is small, with just about 4000 residents, there usually are few homes listed for sale or selling, and with small numbers we can get seeming volatility. Last month, for instance, there were only three homes sold and one pending!

There are no condominiums or townhomes in Monte Sereno at present. One of the major challenges for this city is to ensure that at least some housing units are deemed “affordable.” You can find the city’s housing plan here (a pdf online):
http://www.montesereno.org/DocumentCenter/Home/View/674

Recently closed home sales in Monte Sereno

Here are the quick statistics for the closed sales in the last complete month to give a sense of how things are going with the Monte Sereno real estate market. Sales data comes from my Monte Sereno Real Estate Report. Given that the supply of homes to study is tiny, what can we tell from this data?

It’s true that an average Monte Sereno house is about $2.5 million, and often higher in the current market – a little steep for most folks! With only two sold and two pending in February, the data won’t always be the most accurate. During times like this, it’s more important to look at the trends over multiple months than to base your understanding of the market off one month, and to compare with similar, nearby markets like Los Gatos.

And a look at the data from last month for the Monte Sereno real estate market:

Continue reading to view live Altos Research charts for the real estate market in Monte Sereno, including by pricing quartile. Continue reading

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, which shows 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)

Los Gatos/Monte Sereno Real Estate Stats At A Glance

Year-Over-Year

  • Median home prices fell by 5.4% year-over-year to $2,224,000 from $2,350,000.
  • The average home sales price dropped by 8.9% year-over-year to $2,142,080 from $2,350,830.
  • Home sales fell by 13.3% year-over-year to 13 from 15.
  • Active listings rose 21.8% year-over-year to 67 from 55.
  • Sales price vs. list price ratio fell by 0.5% year-over-year to 99.1% from 99.5%.
  • The average days on market fell by 61.6% year-over-year to 21 from 54.

Compared To Last Month

  • Median home prices improved by 16.7% to $2,224,000 from $1,905,000.
  • The average home sales price fell by 2.1% to $2,142,080 from $2,187,250.
  • Home sales up by 8.3% to 13 from 12.
  • Active listings increased 36.7% to 67 from 49.
  • Sales price vs. list price ratio increased by 0.8% to 99.1% from 98.3%.
  • The average days on market dropped by 51% to 21 from 42.

Do you love Los Gatos, live there now or want to live there? Please also visit the Live in Los Gatos Blog!

Learn about Los Gatos neighborhoods, see photos, videos, pricing information, age of homes and much more! Get frequent Los Gatos real estate market updates, find out about local events, business, see images of the parks, historic buildings, and get to know Los Gatos even better. “Live in Los Gatos” is an award winning blog, also written by local Los Gatos Realtor and resident Mary Pope-Handy – check it out today!

Live in Los Gatos Blog

Please continue reading for info on the Los Gatos condo market, and for real estate market information on Monte Sereno. 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

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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
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San Mateo County, and
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Saratoga, Campbell,
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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.


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