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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. 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 102.6%. That being said, turnover has slowed way down to an average of 85 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 5.9% year-over-year to $1,337,500 from $1,262,500.
  • The average home sales price rose by 15.9% year-over-year to $1,459,620 from $1,259,290.
  • Home sales fell by 0.0% year-over-year to 12 from 12.
  • Active listings rose 51.7% year-over-year to 44 from 29.
  • Sales price vs. list price ratio rose by 0.3% year-over-year to 102.6% from 102.3%.
  • The average days on market rose by 195.6% year-over-year to 85 from 29.

Compared To Last Month

  • Median home prices slipped by 1% to $1,337,500 from $1,351,250.
  • The average home sales price rose by 2.7% to $1,459,620 from $1,421,750.
  • Home sales down by 33.3% to 12 from 18.
  • Active listings increased 69.2% to 44 from 26.
  • Sales price vs. list price ratio increased by 3.4% to 102.6% from 99.2%.
  • The average days on market increased by 259.5% to 85 from 24.

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:

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

Continue reading

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 fell by 11.2% year-over-year to $955,000 from $1,075,000.
  • The average home sales price dropped by 10.2% year-over-year to $1,015,240 from $1,130,860.
  • Home sales fell by 16% year-over-year to 21 from 25.
  • Active listings fell 6.3% year-over-year to 45 from 48.
  • Sales price vs. list price ratio fell by 1.7% year-over-year to 102.0% from 103.7%.
  • The average days on market rose by 44.4% year-over-year to 30 from 21.

Compared To Last Month

  • Median home prices slipped by 6% to $955,000 from $1,015,500.
  • The average home sales price fell by 3.3% to $1,015,240 from $1,050,100.
  • Home sales down by 52.3% to 21 from 44.
  • Active listings increased 55.2% to 45 from 29.
  • Sales price vs. list price ratio dropped by 1.9% to 102.0% from 104.0%.
  • The average days on market increased by 58.3% to 30 from 19.

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! The current numbers definitely show a massive swing in price point, but this is mostly due to the minute inventory where the data is drawn from. 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 last month. 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 increased by 3.5% year-over-year to $1,905,000 from $1,840,000.
  • The average home sales price rose by 18.5% year-over-year to $2,187,250 from $1,846,140.
  • Home sales rose by 71.4% year-over-year to 12 from 7.
  • Active listings rose 19.5% year-over-year to 49 from 41.
  • Sales price vs. list price ratio rose by 2.0% year-over-year to 98.3% from 96.3%.
  • The average days on market fell by 41.1% year-over-year to 42 from 71.

Compared To Last Month

  • Median home prices improved by 10.1% to $1,905,000 from $1,730,000.
  • The average home sales price rose by 12.2% to $2,187,250 from $1,949,240.
  • Home sales down by 52% to 12 from 25.
  • Active listings increased 8.9% to 49 from 45.
  • Sales price vs. list price ratio dropped by 0.7% to 98.3% from 99.0%.
  • The average days on market dropped by 16.5% to 42 from 50.

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

Sketch of houseIt can be really challenging for people moving to Silicon Valley to get a sense of real estate prices, and perhaps more, to compare housing costs from one town or district to another.

One question I get a lot is this: what does it cost to buy a 4 bedroom, 2 bath house of about 2000 square feet?

So to answer this question, let’s see what houses like this are selling for (4 bed, 2 bath, appx 2000 SF or 185 square meters) and see how the cost looks in one Santa Clara Count y / Silicon Valley area versus another.

Today I compared several areas and cities using this criteria: single family homes of 1800 – 2200 SF, 3-5 bedrooms, 2-3 bathrooms, on lot sizes of 6000 SF to 10,000 SF. Normally I would chart this over the last 2 months, or 60 days, but because of the low inventory causing the sellers market I have expanded the search to the last 4 months, or 120 days, for a better range. As of this writing, Los Altos only had one sale over the last 120 days, so data for that segment spans from 0 to 180 days back, or 6 months, and in that half a year we have merely 3 sold.

Here’s how it shakes out in the “west valley areas” along the Highway 85 corridor, most of which are known to have good to great public schools. What areas are most affordable? One way of analyzing this is the “price per square foot” figure. Whenever I update the chart, I re-arrange the order of the cities from high to low based on the price per square foot, although there’s usually minimal movement.

Below are my results from the same search back in September 18, 2015. By comparisson, you can tell that Santa Clara’s average Price has increased, pushing it above Almaden and Campbell.

How competitive is the market? Have a look at the DOM or “Days on Market” figure. All of these days on market are short, but they range from low to heart-skippingly fast.

In most cases, the priciest and most desirable places have either the best schools or shortest commute location or both (Palo Alto and Cupertino have both). Had I ranked these for school scores, you’d find that Cambrian is fairly high up and a good “bang for the buck” location – though not a super short commute for folks who work in Mountain View (though not so bad for people working in Cupertino).  Almaden, too, offers a good value for the quality of the schools, homes, and neighborhoods, though the commute is longer. None of these is especially close to North San Jose (where a major employer is Cisco).

It should also be noted that in some of the smaller communities with less on the market these numbers may not be as stable as others with more data – for instance, Saratoga only had four homes sold matching this criteria within the 120 days of collected data, and therefore may not be as accurate as others, such as the Blossom Valley area of San Jose with the most data at 35 homes sold. For these smaller communities with less data, it is beneficial to look at them more closely – Saratoga, for instance, has 3 different high school districts which have an impact the real estate prices.  This chart is really just a snapshot to give a general sense of the relative affordability of these markets to one another. 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. The Santa Teresa real estate market, like most of Santa Clara County, has been flattening after a multi year surge in values. The average Days on Market are low at a mere 18 days. The sales to list price ratio has risen to 100.8%. This shows that this seller’s market has heated up since last month.

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

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:

As you can see in the chart above, the condo portion of the Santa Teresa real estate market is also doing well. It is no longer hotter than the single family housing market, it has shown some cooling with properties taking just 35 days to sell at 101.7% of list price. In today’s condo market many areas are competing with the housing market and are much hotter than usual.

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. 2 beds, 2 full, 1 half baths
    Home size: 1,093 sq ft
    Lot size: 609 sqft
  2. 3 beds, 2 full baths
    Home size: 1,301 sq ft
    Lot size: 10,497 sqft
  3. 3 beds, 2 full baths
    Home size: 1,308 sq ft
    Lot size: 6,011 sqft
  4. 3 beds, 2 full baths
    Home size: 1,510 sq ft
    Lot size: 5,619 sqft
  5. 5 beds, 3 full, 1 half baths
    Home size: 2,151 sq ft
    Lot size: 5,096 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 2/21/2017)

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

 

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. Prices are up from a year ago, and inventory can’t keep up with demand. Below there are charts for the activities over the last few months. Low inventory from earlier in the year and continuous low inventory around the rest of the Valley means there is still a much greater demand to fill than is available. This is clear in the sales price vs list price, which has risen to 104.9% from a consistent 103%, and the speed of market turnover (how long a house is on the market) which has remained low, usually under a month, as far back as we can see on these charts. 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:

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

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 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

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 15.2% year-over-year to $1,106,000 from $960,375.
  • The average home sales price rose by 10.4% year-over-year to $1,149,970 from $1,041,370.
  • Home sales fell by 33.3% year-over-year to 34 from 51.
  • Active listings fell 31.4% year-over-year to 59 from 86.
  • Sales price vs. list price ratio fell by 0.0% year-over-year to 100.0% from 100.0%.
  • The average days on market rose by 2.4% year-over-year to 47 from 46.

Compared To Last Month

  • Median home prices slipped by 7.8% to $1,106,000 from $1,200,000.
  • The average home sales price fell by 5.7% to $1,149,970 from $1,219,410.
  • Home sales down by 17.1% to 34 from 41.
  • Active listings dropped 32.2% to 59 from 87.
  • Sales price vs. list price ratio increased by 0.1% to 100.0% from 99.9%.
  • The average days on market increased by 5.7% to 47 from 45.

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

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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