Median List price for San Jose 95129
Median list price, all quartiles combined, going back about 7 years. Peak for pricing was in very late 2007.
Median list price for just the last 12 months:
Want to get away for a scenic hike but not drive hours for some time in nature? The Fremont Older Open Space Preserve may be just the ticket.
Located in Cupertino but stretching into Saratoga, this enormous preserve, which is managed by the Midpeninsula Regional Open Space District, includes nearly 15 miles of trails within 739 acres of open space. The parking lot is a little small, so best to carpool if meeting friends there, and easiest if you arrive early on weekends.
The preserve includes many scenic vistas of the rolling hills, the coastal range, and the valley below. Continue reading
For people relocating to Silicon Valley, often there’s not just one city, town or area which seems like a good fit. Sometimes it may come down to what your money can buy or how difficult it is to purchase in one area versus another. This is frequently the case with the “West Valley” areas where schools are good and the neighborhoods are tidy.
There are two statistics which are especially helpful in understanding the Santa Clara County real estate market. One is the “days on market” or DOM. The shorter this is, the hotter the market – and the harder it is to purchase. The second is the sale price to list price ratio, which hints at the existence of multiple offers, overbids, and buyers giving away all of their rights.
Today, then, we’ll have a look at these, starting with Almaden, the southernmost area, and working our way north along the coastal range. The charts below are all for single family homes (houses and duet homes, not condos or townhomes).
Almaden Valley is a district within the city of San Jose. Its boundaries roughly follow the 95120 zip code, though there are some parts of nearby zip codes which somewhat overlap into Almaden too. How’s the Almaden market? Red hot! Days on market is crazy low – a mere 16! And the average sale price is almost 104% of list price…and rising!
The other day I was hunting for local maps of Santa Clara County (Silicon Valley) dating back 100 years or so, and although I didn’t find exactly what I wanted, I did find a treasure trove that I hadn’t expected to find at all.
Here please find a tiny snippet of a USGS Map from the late 1890s (actually part of the Palo Alto Map). According to my husband, who has a hobby of viewing and collecting maps, each “dot” on this image represents a house. If that is the case, you can see how sparcely populated Saratoga and Cupertino were at this time.
And what is that Azule Springs? Was it another hot springs type resort, like Saratoga Springs? A map like this raises a lot of questions!
If you love – or at least enjoy – history, I invite you to visit the USGS website and look at the historic maps there. One section includes Palo Alto, Mountain View, Sunnyvale, Cupertino and the coastal areas such as Santa Cruz and Half Moon Bay. Another section of the map includes Los Gatos, Monte Sereno, Campbell, Almaden, Cambrian Park, Santa Clara and many parts of San Jose.
It’s fun to see where things “used to be” and how they “used to be called”. Take a few minutes and enjoy!
$7,299,000 : 15815 GLEN UNA DR, LOS GATOS5 beds, 6 baths
$1,650,000 : 13601 Riverdale DR, SARATOGA4 beds, 2 baths
$1,958,000 : 20109 Marigny Place, SARATOGA3 beds, 3 baths
$7,588,000 : 19770 Glen Una DR, SARATOGA6 beds, 6 baths
$2,785,000 : 20737 Russell LN, SARATOGA5 beds, 3 baths
$2,348,000 : 13290 Pierce RD, SARATOGA3 beds, 2 baths
$3,088,800 : 13974 Shadow Oaks WAY, SARATOGA4 beds, 4 baths
$2,548,000 : 13901 Malcom AVE, SARATOGA4 beds, 3 baths
$2,398,000 : 12716 LARCHMONT AVE, SARATOGA4 beds, 2 baths
$2,995,000 : 19370 Redberry DR, SARATOGA4 beds, 3 baths
See all Real estate in the Saratoga community.
(all data current as of 9/19/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Today let’s look at the Santa Clara County real estate market, the days on market (DOM) and the sale price to list price ratio for houses and duet homes (single family homes). This will primarily be graphs that I created using MLSListings.com (our local MLS, to which I am a paying member). We’ll consider the county as a whole and various cities or towns within it, plus areas of San Jose, as it has about a million residents.
First: Santa Clara County homes over the last year. Please note the decreasing days on market, the increasing sale price to list price ratio in recent months. This is exactly what an appreciating market looks like!
Next, let’s have a peek at how some of the hottest markets in Silicon Valley look, starting with Sunnyvale. It is odd to see any kind of a blip on the sale price to list price ratio. Are buyers giving some push-back? We keep hearing stories of homes selling 30% or more over list price with gobs of offers. So the SP – LP ratio change is a surprise.
Palo Alto is always the hottest ticket in town. Continue reading
It’s a sizzling hot seller’s market in Silicon Valley, meaning the San Jose area, Santa Clara County and San Mateo County generally have critically low housing inventory and extremly strong buyer demand. But it’s not equally hot in every city, area, school district or price point. Some home buyers may be interested in more than one area. For instance, often I have clients looking at both Almaden and Cupertino, or Cambrian (San Jose) and Campbell, or Los Gatos and Monte Sereno…. So if you are looking for a less crazed area in which to buy, it might be useful to compare the months of inventory* to see where it might be more possible to buy a home, especially if you’ve been beat out on multiple offers a few times.
Today we’ll just consider where these houses are located, but know that it is also possible to run the data by school district, pricing tier, sale type (regular vs short sale vs bank owned) whether or not there’s a pool or garage, etc. I pulled the info from MLSListings.com and then ranked them from hottest to coolest. (Not all areas are represented.)
What can we learn from this information? The first question might be “why are some areas selling so much faster than others?” Although sometimes we can say that only inexpensive, moderate or expensive areas are moving fast, that doesn’t seem to be the case here. Palo Alto is one of the priciest points nearby, and yet it has less than 3 weeks of inventory. At other times we say “it’s all about the schools” but Santa Clara, which aside for a sliver served by Cupertino schools, is the #1 hottest segment of the market – and it is not highly prized for academics. (Same with Blossom Valley.) Cupertino is usually at the top of the pile for desirability, but it’s behind several other communities. What I’m seeing from this one angle is that there aren’t any easy answers, much as I’d like to present some clear cut trend with a big Ah Ha.
Although the underlying “why” may remain a mystery for right now, it’s still helpful for home buyers who are looking for relief. Been beat out 5 or 10 times? Your odds will be improved in the areas listed at the bottom of the sheet: Monte Sereno, Los Gatos, Saratoga, Almaden Valley are all just a bit easier places in which to buy. They are all great communities with strong schools. This kind of info could help you to move from frustrated shopper to happy home owner. Continue reading
Is it a good time to sell a home in Silicon Valley? One of the best ways to get a pulse on the real estate market is with the months of inventory (MOI), also known as the absorption rate. The way we calculate it is simple: find the current available inventory (not under contract or sale pending), then find the number of homes with that exact criteria which have closed escrow in the last 30 days. Divide the first by the second and you get the months of inventory.
Today I spent a little time on MLSListings.com, our local mls association (of which I am a member) and I ran the numbers for single family homes (houses and duet homes) in Cupertino, Los Altos, Los Gatos, Monte Sereno, Mountain View, Palo Alto, San Jose (all areas combined), Santa Clara, Saratoga, Sunnyvale and three of San Jose’s districts: Almaden, Cambrian, and Willow Glen. Below, please find the results of that study. (This is for single family homes of any price range or school district in each city or area named.)
Which are the hottest markets? They’re the ones with the smallest MOI – Mountain View is at .56 of a month (about 2 weeks), Sunnyvale at .66 month (about 2.5 – 3 weeks), Cupertino at .8 of a month, Palo Alto .81. All of these are very, very red hot seller’s markets. Every area, city or town studied was a hot market except for Monte Sereno, which at any given time has few listings and few sales plus a wide range of pricing, so often for this small city it’s best to look at the Los Gatos and Saratoga stats to see what’s really happening. A few very high priced listings may make the whole area look slow, when it fact it may be just a function of the pricing tier. Continue reading
A common buyer question right now is whether or not the real estate market in Silicon Valley is overheated, if we are experiencing “another bubble”. If you visit open houses in places like Sunnyvale, Cupertino, and in many parts of the Peninsula, you may see droves of buyers and be convinced that the market is, in fact, overheated.
Silicon Valley encompasses a large area, primarily Santa Clara County and some of San Mateo County, but a few sections of neighboring counties as well. Generalizing about huge regions is tricky. Overall, though, it is a deep seller’s market throughout Silicon Valley. But there is a great deal of variation from one city or town to the next, as well as between ages of homes, quality of schools and neighborhoods, and price point. Today we will focus primarily on a couple of statistics: the ratio of sales price to list price for houses in San Mateo and Santa Clara Counties, and ratio of new listings to sold and closed ones of houses in these counties.
First, though, a look at the two counties combined to show the broadest common real estate trends for Silicon Valley in relation to the sales price to list price ratio and “days to sell”.
The chart above gives a snapshot of the Silicon Valley market, which appears to have had a peak in about October – November 2012. likely reflecting sales 45-60 days earlier, when the days to sell hit a yearlong low. Since that time, though, things appear to have calmed down.
New listings of houses for sale versus sold homes in San Mateo and Santa Clara Counties
A few days ago, before getting the stats for closed sales in January 2013, I wrote about the trends for new listings of houses in relation to the closed sales in Santa Clara County in late fall 2012. What we were seeing was that homes in escrow were closing or finalizing the sales faster than new inventory was coming on the market. The closings in January, though,reflecting sales which began in December, a trend reversal, back to a more normal ratio, in both Santa Clara County and San Mateo County. December is often the softest month of the year, with few listings relative to the rest of the year and sales at lower price points. Looks like this December followed that pattern to a point. Have a look at the charts for both counties and notice the trend reversal, below.
Many of the statistics quoted by news agencies and real estate information analysts refer to the “active” inventory as not just the homes which are truly available, but also those which are sale pending but with contingencies still in place (whether huge contingencies, such as bank approval on a short sale or the normal ones, such as property inspection and loan approval). This often results in a more bloated look at what’s available than what is really the case, and it gives buyers the sense that it’s easier to purchase than it truly is. Let’s look at some statistics to see what’s happening over the last year, when it shifted from being a buyer’s market to a severe seller’s market for houses in Santa Clara County.
Normally there are more homes available (for sale, without a “sale pending” status attached) than there are closed sales each month. But right now, the available properties are being gobbled up much faster than new ones are getting put onto the multiple listing. Let’s view the graph to see the relationship between these two figures for houses listed and sold in Santa Clara County in 2012.
At the beginning of 2012, please note that the new listings (the red line) outpaced the sold and closed properties (green line). The delta between them shrinks over the course of the year, until in the fall they are nearly equal until closed sales far outstrip new listings. That is a complete flip in the market, and it represents a shift in power from the buyer to the seller, too. For those who prefer just the numbers, here they are: Continue reading
Yesterday I put a wonderful Cupertino condo on the market. My seller has worked hard so that the buyers won’t have to! The kitchen is newly remodeled and is just about one month old. The home boasts new carpet and wood laminate floors, new blinds, new light fixtures and on and on. Best of all, it enjoys an oversized patio which must be seen to be fully appreciated! Located in the best area of the complex with easy access on foot to a myriad of shops, restaurants and two coffee houses at Foothill Center. Check out all the details and photos below!
22330 Homestead Road, # 121: 2 bed, 2 bath, 1249 SF, offered at $598,000
SOLD!!!!! But to see details on this lovely home, please visit:
$899,000 : 21060 White Fir CT, CUPERTINO2 beds, 1 bath
See all Real estate in the city of Cupertino.
(all data current as of 9/19/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.