Neighborhoods

Areas & Neighborhoods

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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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. That being said, the Santa Teresa real estate market, like most of Santa Clara County, has been heating up all summer long. The average Days on Market are low at a mere 11 days. The sales to list price ratio remains well over list price at 108.7%. This shows that this seller’s market has not budged since last month. Santa Teresa is in a hot seller’s market.

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

Trends At a Glance Dec 2017 Previous Month Year-over-Year
Median Price $1,005,000 (+5.8%) $950,000 $829,000 (+21.2%)
Average Price $978,761 (+3.5%) $945,578 $827,923 (+18.2%)
No. of Sales 13 (-43.5%) 23 13 (0.0%)
Pending 12 (-7.7%) 13 12 (0.0%)
Active (-16.7%) 6 (-44.4%)
Sale vs. List Price 108.7% (+3.1%) 105.5% 100.6% (+8.1%)
Days on Market 11 (-8.6%) 12 19 (-41.8%)
Days of Inventory 12 (+52.5%) 8 21 (-44.4%)

And from last month, for comparison, the Santa Teresa real estate market:

Trends At a Glance Nov 2017 Previous Month Year-over-Year
Median Price $950,000 (+5.6%) $900,000 $760,000 (+25.0%)
Average Price $945,578 (-2.4%) $969,267 $776,418 (+21.8%)
No. of Sales 23 (+53.3%) 15 22 (+4.5%)
Pending 13 (-50.0%) 26 17 (-23.5%)
Active (-45.5%) 11 13 (-53.8%)
Sale vs. List Price 105.5% (-0.6%) 106.1% 100.1% (+5.4%)
Days on Market 12 (-10.8%) 13 32 (-62.6%)
Days of Inventory (-65.6%) 22 17 (-55.9%)

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:
Trends At a Glance Dec 2017 Previous Month Year-over-Year
Median Price $770,000 (+8.5%) $710,000 $615,000 (+25.2%)
Average Price $770,000 (+10.9%) $694,081 $628,273 (+22.6%)
No. of Sales (-90.0%) 10 11 (-90.9%)
Pending (+80.0%) 5 13 (-30.8%)
Active (-50.0%) 2 10 (-90.0%)
Sale vs. List Price 112.4% (+5.1%) 107.0% 102.3% (+9.9%)
Days on Market (-78.5%) 19 28 (-85.6%)
Days of Inventory 30 (+417.2%) 6 27 (+10.0%)
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, now hanging out close to the 900 mark. 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. 3 beds, 2 baths
    Home size: 1,120 sq ft
    Lot size: 8,524 sqft
  2. 2 beds, 3 baths
    Home size: 1,656 sq ft
    Lot size: 2,112 sqft
  3. 3 beds, 4 baths
    Home size: 1,901 sq ft
    Lot size: 1,202 sqft
  4. 4 beds, 3 baths
    Home size: 2,124 sq ft
    Lot size: 6,542 sqft
  5. 3 beds, 2 baths
    Home size: 1,517 sq ft
    Lot size: 6,120 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 1/17/2018)

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

The Santa Clara County real estate statistics for Single Family Homes

 Read the full report for houses and duet homes in Santa Clara County here (You can also access the stats for San Mateo and Santa Cruz Counties from here!)

Prices are up year over year after a prolonged, unrelenting sellers market. Available inventory is less than half that of a year ago, while sales remain consistent. This is bad news for buyers – the market conditions can’t balance out without inventory to meet the demand!

Trends At a Glance Dec 2017 Previous Month Year-over-Year
Median Price $1,293,690 (+0.4%) $1,288,500 $960,000 (+34.8%)
Average Price $1,556,330 (-3.9%) $1,619,100 $1,186,120 (+31.2%)
No. of Sales 704 (-11.1%) 792 746 (-5.6%)
Pending 515 (-32.1%) 758 544 (-5.3%)
Active 271 (-41.2%) 461 694 (-61.0%)
Sale vs. List Price 109.3% (+0.8%) 108.5% 101.2% (+8.0%)
Days on Market 21 (-3.5%) 22 34 (-39.3%)
Days of Inventory 12 (-31.6%) 17 28 (-58.6%)

And the numbers from last month for comparison:

Trends At a Glance Nov 2017 Previous Month Year-over-Year
Median Price $1,288,500 (+5.6%) $1,220,000 $1,010,000 (+27.6%)
Average Price $1,619,100 (+7.8%) $1,502,130 $1,286,210 (+25.9%)
No. of Sales 792 (-2.9%) 816 891 (-11.1%)
Pending 758 (-12.4%) 865 843 (-10.1%)
Active 461 (-23.7%) 604 1,065 (-56.7%)
Sale vs. List Price 108.5% (+0.8%) 107.6% 101.5% (+6.9%)
Days on Market 22 (+21.0%) 18 31 (-29.1%)
Days of Inventory 17 (-24.0%) 22 35 (-51.3%)

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Cambrian Park Plaza SignThe months of inventory for any part of the real estate market can vary, depending on many factors, including age of home, house size, lot size, and school district, whether or not there’s a pool, and many other things. It can be very useful to understand this metric when selling a Silicon Valley home. I’ve done market numbers crunching tied to the specific characteristics of a property (say, small yard with pool or big yard with no pool) to find the impact of those characteristics on the probability that a home will sell – or how fast.

The Cambrian area of San Jose is a very “hot market” overall, but it can be confusing to know how hot it really is, just like the rest of Santa Clara County, because there are multiple school districts – and schools are probably the number one driver of home values in this highly educated valley.

An explanation of “months of inventory”

What does “months of inventory” mean? This figure references how long it would take to sell a property if homes continued to sell and close at the current pace with no new inventory coming on the market. A good analogy is to consider a bathtub which drains. If you add no new water to the tub, how long will it take to empty out?

The months of inventory is sometimes called the absorption rate. The question is simple: how long will it take for the current inventory of homes for sale to get absorbed by the home buyers purchasing them? It doesn’t have to be calculated by months. It could be in days, weeks, or years. But months is probably most common.

The Cambrian area of San Jose’s months of inventory as a whole, and in one price point

Cambrian was once an enormous zone of the Santa Clara Valley. Today we mostly think of it as within San Jose in the 95124 and 95118 zip codes. Some of it it adjacent to Campbell – a very tiny sliver is IN Campbell (we’re only dealing with the San Jose portion in our charts), and a tinier still area is in San Jose and is under the Campbell School Union District. Most of this area is in one of three elementary school districts: Cambrian, Union, or San Jose Unified.

Here’s the breakdown – first, for ALL of Cambrian (MLS area 14 for my Realtor readers) that’s within the City of San Jose and second, by elementary school district. The area for Campbell Elementary is so small that the numbers are usually not of use (no offense to the Campbell school residents). It can just jump around too much to be helpful and often gives us no usable data. Please have a look:

I highlighted the Union Elementary School District in both charts as the current lowest MOI. You’ll see that past charts show the fastest market shifts around. Aside from Campbell, which has numbers too small to register a MOI, these are the hottest tickets in the district.

Here are the numbers from last September for comparison:

The message I’d like to convey is this: you can read about information for your part of Silicon Valley, or your city or zip code, but it’s not until you drill things down to an area that closely matches your own home will you have a better sense of your own home’s “real estate marker.” It’s never “how is the market?” so much as “how’s the market for YOUR home – or the one you want to buy?”

If you were only tracking the whole of Cambrian, you might see .341 months of inventory. That’s a lightning fast seller’s market. But it’s not quite so fast if you’re selling a Cambrian home in the San Jose Unified Elementary Schools area of the entry-level market. There, you’re seeing 0.667 months of inventory for homes around $1 million, while the same price point with Union Schools is a low 0.4.

Years ago, I had a Willow Glen listing where the whole back yard was the pool. I did a study on the months of inventory and learned that pools in properties with that lot size took substantially more time to be absorbed. Likewise, I had a Los Gatos estate property on an acre of land, and the reverse was also true: the months of inventory showed that large lots on $2 million and up homes for sale did not sell nearly as well without a pool.

The math is simple: using the same criteria, divide the number of active listings by those of homes sold in the last 30 days. The criteria can be anything you like – a property’s size, location, number of bathrooms, price, age, etc. Often I include approximately the same home and lot size together with the school district. That usually provides much more accurate info on “how’s the market” as compared to just getting it by zip code alone.

If you are looking to buy or sell a home in Cambrian, or anywhere in San Jose or Santa Clara County, this kind of information is really important. It is not hard to do, but very few real estate agents will provide this information before you list or before you make the final determination on the list price of your home.

Looking for a good Silicon Valley Realtor who will get you that extra data? Please call or email me. I would love to chat to see about possibly working together.

The Sunnyvale real estate market has been trending upward for many months. In general, houses in Sunnyvale are selling for about one 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 Nov 2017 Previous Month Year-over-Year
Median Price $1,932,500 (+10.0%) $1,756,500 $1,500,000 (+28.8%)
Average Price $1,919,420 (+7.7%) $1,782,200 $1,453,950 (+32.0%)
No. of Sales 42 (0.0%) 42 48 (-12.5%)
Pending 34 (-5.6%) 36 44 (-22.7%)
Active 16 (+14.3%) 14 32 (-50.0%)
Sale vs. List Price 119.8% (+2.1%) 117.3% 105.9% (+13.1%)
Days on Market 11 (+9.0%) 10 20 (-45.7%)
Days of Inventory 11 (+10.5%) 10 19 (-42.9%)

What about the Sunnyvale condo and townhome market?

Continue reading

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%, way up at 112.4% this past month, and the average days on market have dropped to 10 days. 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:

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, and this past 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 106.2%. Turnover has fallen to an average of 16 days on market (or DOM). This tells us that while there may be fluctuation month-to-month, 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 January 12, 2018
Median List Price:$1,912,231Average List Price:$2,083,604
Total Inventory:15Price per Square Foot:$650
Average Home Size:2,850Median Lot Size:23,447
Average # Beds:4.01Average # Baths:3.22
Homes Absorbed:5Newly Listed:4
Days on Market:69Average Age:40

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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Best Realtor blog award
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2009: Sellsius list of top
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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.


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