How’s the Saratoga California real estate market?

Today we’ll look at the monthly sales numbers for Saratoga, CA 95070 and also view live charts reflecting homes listed for sale on the MLS. Both houses and condos/townhomes will be considered as will varying price quartiles via the live charts.

Monthly Real Estate Update for Saratoga – prices of houses rising:

As with much of the “west valley”, the Saratoga, CA real estate market is a seller’s market, but it does not appear quite so overheated as neighboring – and far more affordable – Cupertino right now. Unlike many other areas, though, inventory is a little looser and is up month over month (which is seasonally expected) and year over year (not a seasonal issue, of course). 

Here are the real estate sales statistics for closed sales in March 2012 among houses in the 95070 zip code (click on link to read the full Saratoga Real Estate Report for houses):

And February

The median sales price, which is the number indicating that half of the homes sold for more and half less than this number, has risen almost 8% from a year ago.  This implies that more expensive homes are selling – and possibly that home values are rising too. The average is also up about the same amount year over year.

Next, please find the basic statistics for closed sales in February 2012 among townhouses & condominiums in the 95070 zip code (see the Saratoga Real Estate Report for condos & townhomes):

And February

How’s the real estate market in the Willow Glen area of San Jose?  Like the greater Silicon Valley region, Willow Glen is comprised of many smaller micro-markets.  It will be different in north Willow Glen, Palm Haven or in a walk-to-town area than it will be in the Dry Creek area or St. Francis Woods neighborhood – let alone differences for school districts, price point, sale type (regular versus short sale or bank owned), zip code and home type!  It’s a patchwork of all these smaller markets, in other words.  What’s happening in one segment might be very different than in another.

Today’s post will be the broad view of Willow Glen and comments may not apply to your specific property – for info on your neighborhood, call or email me!

Disclaimers aside, overall it is a seller’s market in Willow Glen right now, but it’s cooler than other areas with better schools such as Almaden, Cambrian and Cupertino and not everything is selling (and certainly not getting the prices that many sellers want).  The best homes (best condition, pricing, marketing and regular sale) are selling in 1-3 weeks.

Below are the basic numbers, stats and trends from the closed sales of houses in March

and in February:

And next, of Willow Glen condos, where it’s been a cold buyer’s market but recently heated up:

Next, February…

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Large Cupertino view home now available!   10387 Amistad Court, Cupertino California

Fabulous 5 bed + den, 4 bath home with lovely valley views from several rooms!  Room to accommodate two or more generations or live in help if so desired.  Lower level includes 3 bedrooms, 2 bathrooms and bonus room or retreat.  Upstairs are the main living areas (living, dining, family, kitchen, nook), master bedroom suite, one more bedroom and a large den or office.  Living room, office, balcony and master all enjoy views.  Good sized, private yard.  Located on quiet cul de sac in lower foothills, a very easy drive.  Best schools, including Monta Vista High School!

Please enjoy a slideshow of this fine home, and click to see more photos as well as some panoramas.

This property is co-listed

10387 Amistad Court, Cupertino California is co-listed with Mary Tan and George Tan of Coldwell Banker in Cupertino, tel # 408 861-8832.

Please stop by our open house this weekend!

This fine home will be open Saturday, 3/31/2012 from 1:30 – 4:30 (hosted by Mary Tan) and Sunday, 4/1/2012 1:30 – 4:30 (hosted by me, Mary Pope-Handy)

More information on  10387 Amistad Court, Cupertino California – a beautiful view home in the prestigious Cupertino foothills!

We're sorry, but we couldn't find MLS # 81211438 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Living Room & Balcony at 966 Kiely Blvd, # D

******** SOLD with 20 offers after 6 days on the market******

So cute, updated, staged – a turnkey Santa Clara condo in a great location near Central Park!

966 Kiely Blvd, # D (cross street Kaiser Drive), Santa Clara

Fabulous kitchen with dishwasher,  new refrigerator, new oven!

One bed, one bath, 670 square feet of easy living in an upstairs unit.

Great closet space – big walk in closet in master, hall closet for guests, oversized storage – linen closet PLUS another storage area in the carport.

Living room with wet bar and private balcony – wonderful for relaxing.

Seller has worked hard to make this home absolutely ready.  There are even a home & pest inspection. Regular sale too. Hurry, it’s ready to sell!

The Santa Clara Condo Market is red hot – but very few properties are similar to this in being updated, a regular sale (not a short sale, not a bank owned property) and ready to go with inspections & disclosures online. (Click the link to read up on the real estate market for condominiums and townhomes in Santa Clara. Real estate agents can get the link for the disclosures on the MLS.)

Offered at $158,888

HOA dues $340 per month

Woodborough community with pool, spa, playground & more  (see photos and all details below)
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How’s the real estate market in San Jose’s Almaden Valley? Commentary and statistics…..

It’s actuallya lot hotter than the numbers for the Almaden closed sales in February might indicate; the last 2-3 weeks have seen a heat-up the likes of which I have not seen since 2000. Many properties are selling fast, sometimes with multiple offers.  We are experiencing this trend throughout the west valley areas: Los Gatos, Saratoga, Cupertino, Palo Alto and on up the Peninsula.  These multiple offers are pushing prices higher. In many cases, it is much higher.  I’m seeing some overbids of more than $100,000 in some cases as well as offers with no contingencies for loan or home inspection. Listing agents sometimes write in their private MLS comments for other agents “no pre-emptive offers“.

What’s driving it?  There are years of pent up demand in which would-be home buyers sat on the fence, either because they expected further price drops or because, in the case of move-up buyers, they didn’t have enough equity to budge.  With record low interest rates and prices creeping up – combined with an infusion of cash from high tech employees with either great stock prices (Apple) or an IPO (LinkedIn, Facebook, Yelp, and more), there’s the classic case of more demand than supply. 

Almost every offer I’ve been involved with over the last month has been a multiple offer situation, whether in south San Jose, Blossom Valley, Cambrian, Los Gatos, or Saratoga.  Prices from $400,000 to $1,800,000 – all at least 5 offers, sometimes far more.  As Chris Trappani, the CEO and founder of Sereno Group says, “we’re seeing it now – the papers will report on it in a month”.

Stats for the Almaden real estate market for houses in February 2012 (click on link to see more info):

Note that the median sales price is up almost 15% from January and the average price rose 7% month over month. Year over year it’s not so good but from what we are seeing, it’s unlikely to look like this when the March 2012 numbers roll in.  Also note the jump in pending sales and the lower number of actives – less inventory, more absorption.

Today we’ll have a look at the most recent closed residential realty sales numbers and then also view “live charts” which are updated weekly for Los Gatos real estate.  This segment of Silicon Valley real estate can be viewed from many angles: zip code, school district, sale type, view or no view, acreage, luxury home or basic home type…. This post will serve as a brief overview only. For information on YOUR Los Gatos subdivision or neighborhood, please contact me!

February 2012 sales numbers for Los Gatos real estate are in via my Real Estate Report.  Have a look:

(1) Houses and Duet Homes

Prices are going way, way up!  And yet the market is cooler – more homes are on the market, the list price to sales price ratio shrank a little.  The rest of the west valley areas are seeing multiple offers, overbids and rising prices – and we are hearing of them here, also.  That may not be reflected in the stats for another 30 days or so.

(2) Condos and Townhouses

More skyrocketing prices!  The LG condo market has been very challenged – but now there seems to be a great turnaround. Have a look at the chart below! (more…)

Coming Soon! On MLS Thursday, Feb 23 and Open House Saturday Feb 25 and Sunday Feb 26, 2012 2 – 4pm

870 Brevins Loop: Beautiful, Elegant Willow Glen Home for Sale!

New Listing, Please Stop By!  Open Sat/Sun, Feb 25-26, 2012 from 2-4pm

In a couple of days I will put this new Willow Glen listing of mine on the MLS and I look forward to holding it open this weekend for the first time. If you are in the area, please swing by and have a look! I always enjoy meeting the readers of my blog & this is a home you will enjoy seeing!

The house & yard are full of amenities that Silicon Valley home buyers will appreciate:
hardwood floors, built-in bookcases and media niches, slab granite, gas cooking, stainless steel appliances, lots of windows & natural light, a luxurious master sweet with 2 walk-in closets and a spacious bathroom with big soaking tub, separate shower and two separate vanities. Central air conditioning.   The lush backyard boasts two trellises, sandstone hardscape & custom lighting. The front yard is easy-care: the HOA takes care of the maintenance!

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