Market Reports

Silicon Valley Real Estate Market Reports

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.

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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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Santa Clara real estate market - The Santa Clara Women's Club http://www.santaclarawomansclub.org/

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

Update on the Santa Clara real estate market: The realty market in the city of Santa Clara, like the rest of Silicon Valley, is one in which the sellers have a strong upper hand.

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 is currently high at 111.3%, and has for the most part remained near 110% 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 Santa Clara real estate market for single family homes. See the 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 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 dropped to 9 days with homes on average selling well over list price at 106.1%. 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.

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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 Sep 2017 Previous Month Year-over-Year
Median Price $1,710,000 (+2.9%) $1,661,550 $1,300,000 (+31.5%)
Average Price $1,654,290 (-0.6%) $1,665,050 $1,356,830 (+21.9%)
No. of Sales 43 (-23.2%) 56 54 (-20.4%)
Pending 41 (+2.5%) 40 47 (-12.8%)
Active 16 (+23.1%) 13 58 (-72.4%)
Sale vs. List Price 114.0% (+0.2%) 113.8% 103.4% (+10.3%)
Days on Market 15 (+45.4%) 10 22 (-32.5%)
Days of Inventory 11 (+54.9%) 7 31 (-65.4%)

What about the Sunnyvale condo and townhome market?

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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. 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

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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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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%, closer to 108% this month, and the average days on market remain low at 18 days for the second month in a row. 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?

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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 has fallen slightly since last year, but sales are remaining consistent. Properties continually sell regularly over list price quickly, in under 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.

Things are similar to last month. Despite fewer sales, the days on market have shortened and the sales price vs list price is up. Willow Glen is showing no signs of cooling.

And next, of Willow Glen condos:

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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, and summer failed to bring enough new listings to fulfill demand. 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 warming, with homes selling, on average, above list price at 102.7%. Turnover has fallen to an average of 17 days on market (or DOM). This tells us that while there may be slight cooling since the month before, Almaden Valley is in a sustained, 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

The data shows a strong sellers market remaining fairly consistent despite increasing inventory over the summer. The best homes will 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 November 10, 2017
Median List Price:$1,762,380Average List Price:$2,011,655
Total Inventory:23Price per Square Foot:$599
Average Home Size:2,725Median Lot Size:11,324
Average # Beds:4.22Average # Baths:3.25
Homes Absorbed:6Newly Listed:6
Days on Market:57Average Age:39

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

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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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