Almaden Valley (SJ)

Almaden Valley San Jose

The Almaden Winery neighborhood, just off Blossom Hill Road in San Jose, has a rich and interesting past, dating back to the mid 1850s when the site was first planted with grape vines.  It was the first winery in Almaden Valley and one of the oldest in the state of California.  (It survived the prohibition period by getting licensed to make sacramental wine and by bottling grape juice.)

In this post I’ll share some photos of the neighborhood with you, explain about the three different builders/developers and show you where to find each one.

With a bit more than 300 houses, the Almaden Winery area is quite popular, with its homes selling quickly.   The community centers around a lovely park, and additionally there’s a newer library adjacent to it – the Vineland Branch of the San Jose public library system.
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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, but homes are still selling quickly at 23 days on average, and a little over list price at 100.2%.

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 3.0% year-over-year to $1,287,500 from $1,250,000.
  • The average home sales price rose by 5.6% year-over-year to $1,344,030 from $1,273,090.
  • Home sales rose by 5.7% year-over-year to 37 from 35.
  • Active listings rose 4.0% year-over-year to 78 from 75.
  • Sales price vs. list price ratio fell by 1.2% year-over-year to 100.2% from 101.3%.
  • The average days on market fell by 4% year-over-year to 23 from 24.

Compared To Last Month

  • Median home prices slipped by 1% to $1,287,500 from $1,300,000.
  • The average home sales price fell by 4% to $1,344,030 from $1,400,150.
  • Home sales up by 15.6% to 37 from 32.
  • Active listings dropped 12.4% to 78 from 89.
  • Sales price vs. list price ratio dropped by 0.1% to 100.2% from 100.2%.
  • The average days on market dropped by 19.4% to 23 from 29.

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 September 23, 2016
Median List Price:$1,516,632Average List Price:$1,791,543
Total Inventory:58Price per Square Foot:$588
Average Home Size:2,669Median Lot Size:8,337
Average # Beds:4.26Average # Baths:3.34
Homes Absorbed:9Newly Listed:8
Days on Market:70Average Age:32

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

Continue reading

wine-pouringA San Jose tradition for decades, the Almaden Valley Art & Wine Festival is a very enjoyable non-profit fundraiser that appeals to just about everyone in Silicon Valley! This year’s event runs Sept 11, 2016 from 10am – 6pm at Almaden Lake Park (located at Almaden Expressway and Coleman Road, near the base of Almaden Valley and nearly touching the Blossom Valley area of San Jose).

To get all the details, please visit the Almaden Valley Art & Wine Festival website. I hope to see you there!

  1. 4 beds, 3 full baths
    Home size: 2,450 sq ft
    Lot size: 7,753 sqft
  2. 3 beds, 2 full baths
    Home size: 1,350 sq ft
    Lot size: 2.02 ac
  3. 3 beds, 2 full, 1 half baths
    Home size: 1,538 sq ft
    Lot size: 3,310 sqft
  4. 4 beds, 3 full baths
    Home size: 2,050 sq ft
    Lot size: 7,710 sqft
  5. 5 beds, 2 full, 1 half baths
    Home size: 2,278 sq ft
    Lot size: 8,058 sqft
  6. 5 beds, 3 full, 1 half baths
    Home size: 2,787 sq ft
    Lot size: 8,755 sqft
  7. 4 beds, 3 full baths
    Home size: 2,477 sq ft
    Lot size: 7,797 sqft
  8. 3 beds, 2 full, 1 half baths
    Home size: 2,199 sq ft
    Lot size: 5,357 sqft
  9. 4 beds, 2 full baths
    Home size: 2,394 sq ft
    Lot size: 12,545 sqft
  10. 4 beds, 2 full, 1 half baths
    Home size: 2,033 sq ft
    Lot size: 8,102 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 9/26/2016)

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

Updates at bottom. For original article (May 21, 2010) begin to read below:

Mount Umunhum sits high on the Santa Cruz Mountain range, and from there enjoys spectacular views. Looking inland, you can see San Jose & most of Santa Clara County, on a clear day even as far north as San Francisco from Mt. Umunhum. Turning toward the Pacific Ocean, from Mt. Umunhum’s heights you can see Santa Cruz and Monterey on a fogless day.

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How's The Luxury Home Market?Luxury home sales are a little sluggish in the west valley areas of Santa Clara County. Right now in Almaden Valley, Los Gatos, Monte Sereno and Saratoga, there are 126 houses for sale listed at or more than two million dollars (just checked MLSListings.com), but in the last 30 days only 30 have sold and closed escrow in those same areas and price ranges. For the Almaden – Saratoga region generally, then, there are 4.2 months of inventory in the over two million dollar price range (126 / 30).  That makes it barely a seller’s market. (In the same region, there are 26 pending sales.)

Next we’ll look at these four Silicon Valley communities separately to see how the luxury market in each one is faring overall.

Almaden Valley (San Jose, 95120)

Currently in Almaden there are 14 houses for sale which are listed at or over $2,000,000.  In the last 30 days, just 1 sold (with 3 properties pending sale).  That makes for a whooping fourteen “months of inventory”. That would mean this luxury market is not in a seller’s market. It’s a very deep buyer’s market in Almaden Valley among the most expensive real estate offerings for sale. Five to six months is balanced and over six is a buyer’s market. Continue reading

Often I have clients who are interested in purchasing a 4 bedroom, 2 bath home in a good school district in Silicon Valley, particularly in the South Bay and West Valley areas.    Tonight I did a study on the MLS of homes that have sold and closed escrow in the last 4 months with these characteristics:

  • single family home (house)
  • 4 bedrooms
  • 2 bathrooms
  • 1800 to 2200 square feet of living space
  • 6000 to 10,000 sf lot

Disclaimers aside, here are the numbers for select West Valley Communities in the West/South Bay area with good schools. The first number is the average sales price per square foot, the second number is the average sales price:

Capture

And a look at the chart from all the way back in 2011. What’s changed? A lot! The order has shifted some, showing where demand has increased or decreased. Most noticeably, the prices are significantly lower in 2011 than they are now.

The home prices tend to run with the school district API scores.  You can check the 2013, three year average, API scores in Santa Clara County for both the districts and the individual schools online here.         Continue reading

Cambrian, Almaden, and Los GatosIf a strong public high school is at the top of your priority list, you may find yourself looking at Los Gatos, Cambrian (area of San Jose), and Almaden (also in San Jose) – scenic areas along the southwest side of Silicon Valley, all of them featuring good to excellent high schools.   I would caution against only judging an area, or a school, by its scores, though – often the culture at the campus, the offerings, and many other things can vary from one school to the next.  Nothing beats visiting in person and talking with students, parents, faculty and staff.

2013 Growth API Scores

Disclaimers aside, scores do matter as an important part of the overall package.  How do the high schools in these areas stack up?  API scores are no longer used, so the numbers below are from the 2013 Growth API scores, the most current year available.

Ranked in order of API score:

Leland High – 889 (Almaden, southern area)

Los Gatos High – 883 (Los Gatos, central + small area in Almaden)

Leigh High – 833 (Los Gatos, east & Cambrian plus little of Almaden)

Pioneer High – 822 (Almaden, northern area & Cambrian)

Branham High – 810 (Cambrian & Blossom Valley)

Westmont High – 796 (Los Gatos, western area plus parts of Campbell and Saratoga)

What is the cost of homes in these areas?

To narrow it, let’s consider the same set of criteria: houses sold in the last 180 days within 1 mile of each high school named, with 3 bedrooms, 2 bathrooms, and 1500 – 2000 SF. (I’m leaving lot sizes out because it’s already a very small pool of homes.) To make it super simple, I’ll just include the price per SF and the average sale price of these houses.

Ranked in order of affordability – average sale price:

Pioneer High – 822 API – average price per sf  $549.17  average sale price  $919,057  (9 houses)

Branham High – 810 API – average price per sf   $588.92 average sale price $969,295   (17 houses)

Leland High – 889 API – average price per sf   $616.04  average sale price  $1,071,250  (4 houses)

Leigh High – 833 API – average price per sf     $686.00  average sale price $1,144,100  (20 houses)

Westmont High – 796 API – average price per sf   $844.00  average sale price  $1,329,500 (8 houses)

Los Gatos High – 883 API – average price per sf   $917.95  average sale price $1,593,556 (9 houses)

Clearly, the market dictates that there are more than high school scores impacting home values (but you already knew that!).

Homes in the Leland High School area are a very good value, if you can find one (there were only 4, so too easy to have an impossibly small pool of choices).

Market drivers – beyond school scores

San Benito Way home in Los GatosDowntown Los Gatos is charming and historic (with loads of beautiful older homes and buildings), it enjoys a vibrant night life and restaurant scene. It’s interesting! It’s “walkable”!  People want to live in a part of Silicon Valley that isn’t just suburban sprawl – hence downtown LG has the biggest draw of all these areas.  It’s not too far from Highway 85 (think Apple) but it’s not boring, like most of San Jose can be.   Many are willing to pay much more to be part of Los Gatos and Los Gatos High School.  A nice townhouse in LG, or a house in Cambrian?  That may be the choice.

Commute times to places like Apple matter a lot, so homes on the west end of Los Gatos, in Campbell and parts of Saratoga in the Westmont HS area see a very high average sale price, even though the API score was less than 800.  Schools matter but they aren’t the only thing that matter. Many home owners believe that the most important part of the education is the parents’ involvement (at home and at school).  Many also have their kids at a private high school. Continue reading

San Jose is the largest city in Santa Clara County (or Silicon Valley) with about one million residents.  The districts or areas within San Jose vary tremendously in many ways, including their respective real estate markets.

Today we’ll have a comparative look at the median list prices in the housing market in three areas & zip codes of San Jose: Almaden Valley (95120), Cambrian Park (95124) and Willow Glen (95125).  First, how these three areas line up against each other and against San Jose as a whole in terms of the median list prices of homes for sale in the last year.

Please note: the charts below are “live” html and the commentary is appropriate as of today, Nov. 23, 2015  The charts will continue to change and be updated,though, so it’s possible that a year from now the commentary may seem disjointed.  Now you’ll know why!

First, a glance at Almaden, Willow Glen, Cambrian and San Jose genererally.

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

Almaden prces took a little dip in mid to late summer, and so did Willow Glen 95125.  Cambrian 95124, though, has been very strong (as I can attest from working with buyers and sellers there recently). San Jose as a whole is close to flat.

 

San Jose as a whole, by price quartile is next. It is pretty level generally at this time.

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

 

Next, let’s focus on the Almaden Valley area of town by price quartile also:

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

As we might expect, the least volatile pricing is in the most affordable homes.

Next, Cambrian Park…
Continue reading

Recently I’ve expanded my subscription to Altos Research – now you can sign up for my Altos newsletter and get information on any zip code in Santa Clara County (the San Jose area) sent to you each week. Altos uses list prices.

For sold info, please see my Silicon Valley Real Estate Report, which covers the cities and towns in Santa Clara County, San Mateo County, and Santa Cruz County (and is updated once a month) at popehandy.rereport.com The RE Report also has market data for areas within some cities such as San Jose (covering Almaden, Cambrian, Evergreen, Willow Glen, etc.), Mountain View, and Palo Alto. To view the RE Report for Almaden, please click here.

Below please find the Altos Research charts for the Almaden area of San Jose, which is zip code 95120. These charts will be automatically updated weekly. If you’d like to get this and more info by email each week, please sign up for the newsletter at the bottom.

Learn more about Almaden Valley here.

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SAN JOSE Real Estate Market (95120)



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Average Days on Market
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Total Inventory
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Median MAI
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Find market activity in the Almaden area of San Jose in the map below:

  1. 4 beds, 3 full baths
    Home size: 2,450 sq ft
    Lot size: 7,753 sqft
  2. 3 beds, 2 full baths
    Home size: 1,350 sq ft
    Lot size: 2.02 ac
  3. 3 beds, 2 full, 1 half baths
    Home size: 1,538 sq ft
    Lot size: 3,310 sqft
  4. 4 beds, 3 full baths
    Home size: 2,050 sq ft
    Lot size: 7,710 sqft
  5. 5 beds, 2 full, 1 half baths
    Home size: 2,278 sq ft
    Lot size: 8,058 sqft
  6. 5 beds, 3 full, 1 half baths
    Home size: 2,787 sq ft
    Lot size: 8,755 sqft
  7. 4 beds, 3 full baths
    Home size: 2,477 sq ft
    Lot size: 7,797 sqft
  8. 3 beds, 2 full, 1 half baths
    Home size: 2,199 sq ft
    Lot size: 5,357 sqft
  9. 4 beds, 2 full baths
    Home size: 2,394 sq ft
    Lot size: 12,545 sqft
  10. 4 beds, 2 full, 1 half baths
    Home size: 2,033 sq ft
    Lot size: 8,102 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 9/26/2016)

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

First: Days on Market vs Days to Sell:    We should start by clarifying that the average “days on market” includes the properties which do go pending and sell (many of them quickly) as well as those which linger on the market a long time and eventually become cancelled, expired or withdrawn listings.  The average days on market is usually significantly shorter than the average days to sell for that reason.

San Jose Houses – Days to Sell from MLS Listings

Just now, I pulled the statistics from MLSListings for all of the city of San Jose (all price points, school districts etc.) for single family homes (mostly houses, a few duet homes). This is the Days to Sell info, which specifically views the days on market of homes that DID sell as opposed to all homes on the market. Here’s how the numbers shake out:

San Jose Days to sale & SP-LP ratio

As you can see, it’s a strong seller’s market in San Jose, with residential real estate selling above list price (though not nearly as much above as last April!) and homes that go pending doing so at an average of 24 days.  Please note that this data represents the properties that DO sell.  In every market, there are homes which do not sell.  (Usually they are overpriced, but other troubles can be the root of the market rejection.)

Some parts of San Jose are “hotter” than others.  Let’s have a look at the Cambrian area, where I tend to be especially active.

Cambrian days to sell and SP to LP ratio

If we were to look only at Cambrian houses listed under $1 million, we’d find that the market is hotter still:

Cambrian LP under 1 mil

San Jose has an average days to sell of 24.  In the Cambrian district of SJ, it’s a mere 16 but for homes under $1 million, it’s a rapid, ultra red hot 13!!

Other areas of San Jose are also fairly strong, but please remember that any number of variables (school district, pricing tier, exact location or condition) can make these general numbers not apply to a particular property.  Next up: let’s have a view of Evergreen, Blossom Valley, Almaden Valley, Willow Glen, and the Campbell border area of San Jose. 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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