Almaden Valley (SJ)
Almaden Valley San Jose
This is likely a great “buying opportunity” for those home buyers who were feeling priced out of the market a few months ago. Whether it is a seasonal blip or the beginning of a correction is impossible to know at this time.
Please note that multiple offers are still the norm, as are overbids – but prices are simply lower than in the past. Single family homes are still selling on average at 102.7%, so bear that in mind. To give a sense of the shifting market conditions, please have a look at this graph. Again, market conditions are represented here, not price! (Please click to enlarge.) It is still a seller’s market, but it is moving toward the buyer’s favor now. It will have to go a bit more before it could become a buyer’s market. Will it do that? We have seen similar numbers in recent years that never did dip below. We just have to watch it to see how it unfolds.
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
|Trends At a Glance||Aug 2018||Previous Month||Year-over-Year|
|Median Price||$1,536,000 (-2.3%)||$1,572,500||$1,462,500 (+5.0%)|
|Average Price||$1,537,350 (-10.1%)||$1,709,550||$1,574,170 (-2.3%)|
|No. of Sales||20 (-37.5%)||32||24 (-16.7%)|
|Pending||28 (+21.7%)||23||24 (+16.7%)|
|Active||34 (-10.5%)||38||21 (+61.9%)|
|Sale vs. List Price||102.7% (-2.1%)||104.9%||107.0% (-4.0%)|
|Days on Market||16 (+15.6%)||14||12 (+32.7%)|
|Days of Inventory||51 (+43.2%)||36||26 (+94.3%)|
And the month before:
|Trends At a Glance||Jul 2018||Previous Month||Year-over-Year|
|Median Price||$1,572,500 (-10.1%)||$1,750,000||$1,427,500 (+10.2%)|
|Average Price||$1,709,550 (-10.6%)||$1,911,940||$1,520,940 (+12.4%)|
|No. of Sales||32 (-17.9%)||39||32 (0.0%)|
|Pending||23 (-25.8%)||31||27 (-14.8%)|
|Active||38 (+52.0%)||25||24 (+58.3%)|
|Sale vs. List Price||104.9% (+0.3%)||104.5%||102.6% (+2.3%)|
|Days on Market||14 (-11.8%)||16||18 (-20.3%)|
|Days of Inventory||36 (+91.6%)||19||23 (+58.3%)|
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.
|90-day stats for Single Family properties in|
SAN JOSE, CA 95120 as of September 21, 2018
|Median List Price:||$1,643,877||Average List Price:||$1,865,202|
|Total Inventory:||34||Price per Square Foot:||$695|
|Average Home Size:||2,498||Median Lot Size:||8,972|
|Average # Beds:||4.15||Average # Baths:||3.21|
|Homes Absorbed:||7||Newly Listed:||8|
|Days on Market:||39||Average Age:||41|
San 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:
Average days on market of listed homes (houses) by pricing tier:
Inventory levels for the last 3 years for houses for sale in San Jose:
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
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:
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.
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
Luxury home sales are going like crazy in the west valley areas of Santa Clara County. Right now in Almaden Valley, Los Gatos, Monte Sereno and Saratoga, there are 115 houses for sale listed at or more than two million dollars (just checked MLSListings.com), and in the last 30 days 52 have sold and closed escrow in those same areas and price ranges. For the Almaden – Saratoga region generally, then, there are 2.212 months of inventory in the over two million dollar price range (115/52). That makes it a strong seller’s market. Things have certainly stayed lively since last year. (In the same region, there are 39 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 12 houses for sale which are listed at or over $2,000,000. In the last 30 days, 3 sold in that price range (with 2 sales pending). That makes for 4 “months of inventory,” which can be considered a balanced market in many areas though is leaning towards being a seller’s market. That would mean this luxury market has good turnover but is not as strong a market as elsewhere. It’s a close to balanced 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
Thinking of moving to the much beloved Almaden Valley area of San Jose? Almaden Valley neighborhoods vary in size, schools, and area amenities from one to the next, so reading up on the smaller communities that make up this scenic district will help you to locate just the right area for you!
Why Almaden Valley neighborhoods?
For many home buyers, the choice to move to an Almaden Valley neighborhood is largely about the quality of the public schools and the amount of home that can be purchased relative to other areas with good schools such as Cupertino, Saratoga, and Los Gatos. Some may want Leland, others Pioneer, Leigh, or Los Gatos High (a tiny sliver of San Jose 95120 is in the LGHS attendance area).
For others, it may be about the commute, which is not too bad to downtown San Jose.
Almaden is slightly younger than many parts of San Jose, such as Cambrian (and much younger than Willow Glen). The newness of construction can be very enticing to home buyers not wanting to deal with older home issues.
For those wanting scenic views, rather than flat areas away from hills, this part of San Jose offers abundant opportunities of the hills, from the hills, or perhaps across a golf course. Almaden can feel a little less urban, a little less crowded, because of these scenic vistas.
List of Almaden Valley neighborhoods and subdivisions
Next we’ll provide a list of Almaden neighborhood and subdivision names with links to their descriptions (more links to come as more articles are written).
Almaden Hills Estates
Country View Estates
Guadalupe Oak Grove (near the park)
Shadowbrook – features a swim club
Sunrise of Almaden
Villas of Almaden
Woodside of Almaden
Is there a neighborhood, subdivision, or community missing from this list? If so, please let me know and I’ll add it!
What makes Almaden so highly desireable a place in which to live? Real estate prices are among the highest in San Jose (and Silicon Valley). For much of Santa Clara County, its a little remote; the commute might be a little too far for some, or so its thought. But that may be a misconception.
Where is Almaden Valley?
Almaden sits nestled between the Santa Teresa foothills and the Santa Cruz Mountains in a southwest corner of Santa Clara County. It touches the Los Gatos and Cambrian Park borders on one side, Blossom Valley on another and stretches toward Morgan Hill at the base of the valley. The major roads winding through Almaden are Camden Avenue, Almaden Expressway, and Coleman Avenue. The local landmark, viewable from much of Almaden Valley, is the famous Mount Umunhum, perched at a high point of the coastal foothills and recently opened to the public as park land.
Why Choose Almaden Valley?
Great living: Almaden boasts low crime, great schools, and strong community involvement. With nice public facilities such as a rec center and library, and some neighborhood communities with cabanas and busy swim teams, its family oriented and kid friendly.
A 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 17, 2017 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 Women’s Club website. I hope to see you there!
$1,199,000 : 729 Mairwood CT, SAN JOSE5 beds, 3 baths
$1,260,000 : 5923 Kyburz PL, SAN JOSE2 beds, 3 baths
$1,499,000 : 7073 Bret Harte DR, SAN JOSE4 beds, 2 baths
$2,250,000 : 6770 Olive Branch CT, SAN JOSE4 beds, 4 baths
$1,780,000 : 975 Marlinton CT, SAN JOSE6 beds, 3 baths
$1,449,950 : 7175 Mckean CT, SAN JOSE4 beds, 3 baths
$1,799,000 : 1001 Mazzone DR, SAN JOSE4 beds, 3 baths
$1,688,000 : 6818 Heathfield CT, SAN JOSE4 beds, 3 baths
$1,388,000 : 5791 Ponce CT, SAN JOSE4 beds, 2 baths
$1,998,000 : 7062 Morecambe DR, SAN JOSE5 beds, 3 baths
See all Real estate in the Almaden Valley community.
(all data current as of 9/24/2018)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
The scenic, tidy Almaden Meadows neighborhood, just behind Almaden Meadows Park in San Jose, is one of the larger communities within the Almaden Valley. It includes 1176 single family homes (no condos, no townhomes). TJ Martin park runs near the top of the community, so there are plenty of places to get out and be active nearby! Drive down any of its streets and you’ll find that many are tree-lined, and in nearly every case, the road is not crowded with cars. It’s a very pleasant sense of un-crowding.
Where is the Almaden Meadows neighborhood?
Almaden is a “long” community, but this area is not deep into the valley, but closer to Cambrian and Los Gatos. For commuters, this is a big plus as it’s that much faster to get home.
If you can picture Coleman Road and Camden Avenue coming together in a bit of a “V” formation, Almaden Meadows would be nestled into it, except at the very base of the “V”, which would hold the Montevideo neigborhood.
Put another way, it’s east of Monteverde, south of Coleman, north of Camden and west of Meridian.
From this community, it’s a quick jaunt to get over to Oakridge Mall or nearby areas along Blossom Hill Road. There’s an abundance of restaurants, shopping, and entertainment nearby. Entertainment options include miniature golf, bowling, and a large movie theater at the mall. Additionally, it’s not far from Lake Almaden.
Which public schools serve this community?
Schools for this area are mostly in the San Jose Unified School District, but one corner (north of Redmond and up against Coleman but not quite as far as Meridian) is in the Union School District and Campbell Union High School District.
For the Union School District part, the schools are Guadalupe Elementary, Dartmouth Middle, and Leigh High or Branham High – it’s a “free zone” (see the MAP of the CUHSD’s boundaries here: http://www.myschoollocation.com/campbelluhsd/).
For the San Jose Unified section, the schools are Los Alamitos Elementary, Castillero Middle , and Pioneer High. See the map here.
Overall, these schools are all considered good to very good or even excellent – do your due diligence, of course, as every parent may have a different idea of what is good or good enough.
What are houses like in the Almaden Meadows neighborhood?
The average size of a house in this area is 2109 square feet, but the range covers the smallest house at 1,275 SF to the largest at 3,746. Continue reading
What makes an expensive house in the San Jose area more than just a pricey bit of real estate, but instead a Silicon Valley luxury home? How is high end real estate different from the rest of the market? When is a property not just a home with land, but an estate?
In other parts of the U.S., spending $1,200,000 may fetch a 4000 square foot home, new construction, in an upscale gated community with country club amenities such as a golf course, tennis courts, and more. Here, that same $1,200,000 will procure an entry to mid-level single family home in many parts of Santa Clara County. It won’t necessarily be a Silicon Valley luxury home.
Luxury connotes a combination of qualities, features, and amenities. And it includes pricing (relative to the nearby market), condition, land, design.
Pricing Luxury Homes in Silicon Valley: What Do They Cost?
Expensive Silicon Valley homes are not necessarily luxury homes. Depending on the city or town, the price tag could be higher or lower. For instance, a fabulous house on a large lot in Gilroy’s Eagle Ridge might sell for 1/3 as much as the identical type of home, land and neighborhood found in Saratoga, Monte Sereno, or Los Gatos, or Los Altos, if a similar home happened to be available. Generally, though, luxury homes could cost as little as $1,000,000 or so in some parts of Silicon Valley or in neighboring counties, but in most parts of Silicon Valley, a true estate type property will be valued at $2,000,000 or $3,000,000 or more. In some areas, such as Palo Alto, that $2 million doesn’t go too far and the home you can purchase at that price tag may need major updating – or it could be “land value”. For our purposes today, we’ll use $2 million as the bottom number for estate properties, but it may or may not be the case in some areas.
What does it cost to buy a home with really good schools in Silicon Valley? Los Gatos, Saratoga, Cupertino and Palo Alto are all areas with highly regarding public schools. These aren’t the only areas with good schools but they are popular “west valley” areas that people may consider if working for Apple, Google, Microsoft, Facebook or any number of high tech employers.
Los Gatos and Saratoga both have multiple school districts, running from good to very good or excellent. The cost of housing tends to follow the popularity of the district, so for those areas I’m showing the breakdown not just for the whole town of Los Gatos but also by the high school district (Los Gatos-Saratoga or Campbell Union High School District). Same with Saratoga. (The Monte Sereno real estate market is very similar to Los Gatos, but slightly more expensive. Most of Monte Sereno has Los Gatos schools, but a small number of homes are in the Campbell area.)
Here are the average numbers for single family homes sold in the last 60 days ranging from 1500 – 2500 square feet, on a lot between 5000 and 10,000 SF, with 3-5 bedrooms and 2-3 bathrooms to give a sense of what it would cost to purchase a typical house in these areas. Please note that right now it’s a strong seller’s market, so many (if not most or all) homes are selling for more than the list price. DOM stands for days on the market.
If you are new to Santa Clara County, you may be wondering if this is correct. The cost to buy a home in these areas is what?
- Los Gatos: approximately $1,500,000 to $2,150,000 depending on the school district
- Saratoga: approximately $1,700,000 to about $2,500,000 depending on the schools
- Cupertino: approx $2,000,000 (some high schools will bring in higher prices and others lower)
- Palo Alto: approx $2,700,000 – $3,000,000
Remember, these prices do not mean that the houses being sold are perfect. Because it is a strong seller’s market, many properties are being sold which need new roofing, extensive pest work, remodeling, perhaps updating of electrical or plumbing systems or more. Many home buyers will need to spend 1-2% on things like termite fumigation, dry rot or roof repairs, carpets, paint, windows and more, and usually this will be done before they move in. So whatever the budget is, buffer it a little bit for both money and time to make it turnkey.
To compare, here’s the same chart, following the same criteria, taken in April 2014. See what’s changed:
For people relocating to Silicon Valley from out of the San Jose or Peninsula area, this real estate market can be daunting. There are other areas with good schools which are a bit further from most employment areas which can be an alternative, too. They include the Cambrian 95124 and Almaden 95120 (especially the southern area with Bret Harte Middle School and Leland High School) areas within San Jose.
Finally, in some cases, it may be more affordable to make use of private schools, which are plentiful in the San Francisco Bay area. In some situations it can be financially more affordable to buy outside of the highly competitive areas with the best schools and utilize the private school system. Some of the private schools are religious, some secular, and some with a language focus (bilingual in French, German, Chinese, etc.).
Interested in purchasing a home in one of these fantastic communities? Please call or email me! 408 204-7673 or mary (at) popehandy.com
$2,195,000 : 21961 Oaknoll CT, CUPERTINO4 beds, 3 baths
$3,988,000 : 20861 Dunbar DR, CUPERTINO4 beds, 4 baths
$3,550,000 : 10236-238 Lockwood DR, CUPERTINO6 beds, 5 baths
$4,426,000 : 20791 Dunbar DR, CUPERTINO7 beds, 6 baths
$2,680,000 : 10530 Barnhart CT, CUPERTINO4 beds, 4 baths
$2,088,000 : 21761 Olive AVE, CUPERTINO4 beds, 4 baths
$1,150,000 : 10126 English Oak WAY, CUPERTINO2 beds, 2 baths
$1,999,999 : 1146 S Stelling RD, CUPERTINO3 beds, 2 baths
$1,748,000 : 18645 Ralya CT, CUPERTINO3 beds, 2 baths
$2,395,000 : 11023 Canyon Vista DR, CUPERTINO2 beds, 2 baths
See all Real estate in the city of Cupertino.
(all data current as of 9/24/2018)
Listing information deemed reliable but not guaranteed. Read full disclaimer.