Neighborhoods

Areas & Neighborhoods

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 had been hovering mostly between 98% and 100% throughout 2017. Since December, this number has been creeping up above 100% and is continuing to rise. 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 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%)

 

And the numbers from last month:

Continue reading

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).

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.

 

 

2018-5 SCC City stats

 

Something you’ll  notice right away is that aside from the “south county” areas of Morgan Hill, this is one of the less costly cities in the county. (There are parts of San Jose which are also on the more affordable end of the scale – please see an article on my relocation website, Move2SiliconValley.com, on the topic of the varying prices of homes within the large city of San Jose.)

Milpitas has 2 zip codes, 95035 (regular addresses) and 95036 (PO Boxes). Below, please view some Altos Research charts, which use list prices for Milpitas 95035.

app?pai=50109450&service=chart&st=CA&cid=81&zid=336&rt=sf&ra=a&q=a&s=median price&sz=m&ts=e&theme=newchart - Milpitas real estate market

 

app?pai=50109450&service=chart&st=CA&cid=81&zid=336&rt=sf&ra=a&q=a&s=median inventory&sz=m&ts=e&theme=newchart - Milpitas real estate market

90-day stats for Single Family properties in
MILPITAS, CA 95035 as of March 9, 2018
Median List Price:$1,092,987Average List Price:$1,563,916
Total Inventory:6Price per Square Foot:$642
Average Home Size:1,801Median Lot Size:6,212
Average # Beds:3.73Average # Baths:2.99
Homes Absorbed:4Newly Listed:3
Days on Market:24Average Age:42

 

Milpitas enjoys a close in location, good schools, and in many cases, close up views of the hills or views of the bay and valley from the hills. With BART coming from Fremont into the Berryessa area of San Jose soon, it just keeps getting better looking all the time.  Alternative areas with  good schools like Cambrian are far more costly. Combine these factors with the price point being a little more attractive than most of the county, and you can understand why it would draw a lot of very motivated home buyers. All around, Milpitas is a winner.

Milpitas homes for sale will be snatched up quickly in most cases because it’s a community offering good public schools, shorter commutes to many Silicon Valley tech hubs, and there are views of the hills or from them in many spots. The Milpitas real estate market is a sellers’ market due to low inventory and high demand – so if you love a particular home, don’t wait! Being pre-approved with your down payment in hand is a must!

Browse Milpitas homes for sale:

The properties below are listed in order of newness – the most recently added properties will be listed first. Property types include single family homes, condominiums (condos), townhouses (townhomes), and multi unit properties (meaning duplex, triplex, and fourplex homes).

  1. 2 beds, 2 baths
    Home size: 1,449 sq ft
  2. 4 beds, 2 baths
    Home size: 2,109 sq ft
    Lot size: 7,030 sqft
  3. 3 beds, 3 baths
    Home size: 1,698 sq ft
    Lot size: 2,888 sqft
  4. 2 beds, 3 baths
    Home size: 1,430 sq ft
    Lot size: 2,578 sqft
  5. 4 beds, 3 baths
    Home size: 1,867 sq ft
    Lot size: 6,464 sqft

See all Real estate in the city of Milpitas.
(all data current as of 5/26/2018)

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

Please also see:

Milpitas (on the popehandy.com site)

What can you buy for $1 million in Silicon Valley? (on the Move2SiliconValley.com site)

How are the key housing indicators in the Almaden Valley area of San Jose? At the moment it’s said to be a hot “seller’s market” overall.  But look closer and you can see that in the Almaden Valley housing market there are clear market micro-climates.  Prices are better for sellers, while buyers struggle with higher prices and less homes to choose from.  Recently we have seen a slight cooling, too – very welcome for Almaden home buyers.

Almaden Valley Housing Market: Inventory of Houses for Sale

Right now I have a few Almaden Valley home buyers and they have all been disappointed at the lack of inventory. What’s happening?

First, let’s see what “usually” happens in the 95120 zip code in terms of the number of houses for sale. Here’s a look at the last 10 years (all available history), care of Altos Research – you can see that it’s been rising since January 1st, but it’s a proverbial drop in the bucket:

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

Here you can see that inventory has regular peaks and dips. Inventory tends to rise early each year and peak in mid to late summer. After the peak is a decline through autumn and winter with the lowest point in the coldest part of the year before turning around again before spring.

Now let’s look up close at just the last 3 years. Again, inventory IS rising, so it’s betting a little easier for buyers, but still difficult compared to the last 3 years.

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

As usual, our inventory bottoms out in winter and then rises beginning sometime after the Super Bowl or perhaps a little later. Right now we are still in “rising inventory” mode in Almaden, so the market should be softening a little. Also, we are hearing of “buyer fatigue”, so in many cases there may be fewer offers than earlier in the spring. Continue reading

Willow Glen real estate market is a strong seller's market. This Willow Glen sign is from the downtown business district.Willow 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. The Willow Glen real estate market remains very much 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. Willow Glen is still a hot, persistent sellers market that’s slightly more competitive than a year ago.

And next, of Willow Glen condos:

Continue reading

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 high, recently bouncing around 110-115%, and the average days on market are a low 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?

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. That being said, the Santa Teresa real estate market, like most of Santa Clara County, has been hot since before 2017. The average Days on Market are low at 10 days. The sales to list price ratio remains well over list price at 113.4%. This shows that this seller’s market has only heated up since last month. Santa Teresa is in a stable, 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 Apr 2018 Previous Month Year-over-Year
Median Price $1,015,000 (-0.7%) $1,022,500 $840,000 (+20.8%)
Average Price $1,055,710 (-1.8%) $1,075,090 $882,087 (+19.7%)
No. of Sales 26 (+30.0%) 20 23 (+13.0%)
Pending 25 (-3.8%) 26 23 (+8.7%)
Active 21 (+133.3%) 9 13 (+61.5%)
Sale vs. List Price 113.4% (+0.3%) 113.1% 106.1% (+6.9%)
Days on Market 10 (+3.8%) 9 10 (-3.5%)
Days of Inventory 23 (+73.5%) 14 16 (+42.9%)

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

Trends At a Glance Mar 2018 Previous Month Year-over-Year
Median Price $1,022,500 (-1.7%) $1,040,000 $862,500 (+18.6%)
Average Price $1,075,090 (+1.8%) $1,056,070 $885,156 (+21.5%)
No. of Sales 20 (+42.9%) 14 16 (+25.0%)
Pending 26 (+44.4%) 18 21 (+23.8%)
Active (-18.2%) 11 13 (-30.8%)
Sale vs. List Price 113.1% (+2.8%) 110.0% 104.0% (+8.7%)
Days on Market (-14.9%) 11 22 (-57.5%)
Days of Inventory 14 (-36.4%) 21 24 (-44.6%)

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 Apr 2018 Previous Month Year-over-Year
Median Price $800,000 (-1.2%) $810,000 $632,000 (+26.6%)
Average Price $778,876 (-4.0%) $811,500 $678,919 (+14.7%)
No. of Sales 12 (+50.0%) 8 11 (+9.1%)
Pending 12 (+20.0%) 10 13 (-7.7%)
Active (+150.0%) 2 14 (-64.3%)
Sale vs. List Price 111.2% (+3.1%) 107.9% 102.8% (+8.2%)
Days on Market (-55.4%) 16 18 (-61.0%)
Days of Inventory 12 (+61.1%) 8 37 (-67.3%)
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. 4 beds, 2 baths
    Home size: 1,764 sq ft
    Lot size: 6,346 sqft
  2. 3 beds, 2 baths
    Home size: 1,462 sq ft
    Lot size: 6,120 sqft
  3. 3 beds, 2 baths
    Home size: 1,137 sq ft
    Lot size: 5,871 sqft
  4. 3 beds, 2 baths
    Home size: 1,888 sq ft
    Lot size: 11,499 sqft
  5. 4 beds, 2 baths
    Home size: 1,735 sq ft
    Lot size: 6,904 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 5/26/2018)

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

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, 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

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 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!

 

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

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:

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, 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)

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
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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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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
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