Santa Clara County (all)

The Santa Clara County real estate statistics for Single Family Homes

 Read the full report for houses and duet homes in Santa Clara County here 

(NEW! You can also access the stats for San Mateo and Santa Cruz Counties from here!)

Prices are up month over month and year over year after some slight cooling earlier this month. Inventory is up from a year ago but not enough to catch up with the deficit.

 

Santa Clara County Stats At A Glance for sales closed in November 2016

Year-Over-Year

  • Median home prices increased by 5.2% year-over-year to $1,010,000 from $960,500.
  • The average home sales price rose by 7.1% year-over-year to $1,297,260 from $1,211,630.
  • Home sales rose by 21.1% year-over-year to 850 from 702.
  • Active listings fell 22.1% year-over-year to 1,531 from 1,965.
  • Sales price vs. list price ratio fell by 0.9% year-over-year to 101.6% from 102.5%.
  • The average days on market rose by 9.2% year-over-year to 31 from 28.

Compared To Last Month

  • Median home prices slipped by 3.8% to $1,010,000 from $1,050,000.
  • The average home sales price rose by 1.0% to $1,297,260 from $1,283,920.
  • Home sales down by 6.2% to 850 from 906.
  • Active listings dropped 23.1% to 1,531 from 1,991.
  • Sales price vs. list price ratio dropped by 0.2% to 101.6% from 101.8%.
  • The average days on market dropped by 1.4% to 31 from 31.

 

Continue reading

GGF_2015_Flameup_3Greet the morning with the sweet smell of fresh Garlic in the air – the Gilroy Garlic Festival is back!

If you’ve ever caught the vivid aroma of the stinking rose early in the day it’s likely a breeze coming over the southern Santa Clara County city of Gilroy, the Garlic capital of the world. Whether you love or hate the pungent allium, this herb is a favorite for many foodies in Silicon Valley and around the world.

Gilroy celebrates their favorite bulb one weekend of the year during the Gilroy Garlic Festival, the last weekend in July. This year it’s back for the 38th annual event held on July 29, 30, and 31, 2016. So what to should you expect from “summer’s ultimate food fair?” Food, food, food, fun, shopping, music, and more!

Gourmet Alley is “all about the food” – classics like garlic bread, garlic fries, calamari, scampi, and sausage are available at the booths, and at the end aisle, watch the Pyro-Chefs stoke up five foot tall blazes from their frying pans. Weird food lovers will enjoy a plenitude of flavors from other booths around the festival, including free samples of garlic ice-cream, alligator and buffalo meat, or ice cream in a half cantaloupe. There’s also the range of standard festival food stalls, beer, wine, coolers, and non-alcoholic chilled drinks.

Continue reading

Door knockerToday is the first of November. For many Santa Clara County home buyers and sellers, it marks the beginning of “the holiday season” and the end of the home buying & selling season. But is that always the case?

In my real estate practice (San Jose, Los Gatos and all over the county), normally I do have sales activity in November and December. Many times, clients want to be in their new home before the December holidays and the new year. Sometimes it’s for tax reasons. Other times it’s a late year relocation. Once in awhile, someone just wants Christmas, Hanukkah or some other major date in the new home.

This morning I logged onto MLS Listings to see the numbers of sales of single family homes in the month of November over the last dozen years or so to see what we could learn about November home sales in Santa Clara County. We don’t have a crystal ball for November 2014, but if annual patterns hold true again, around 800 homes are likely to sell this month. The lowest number in recent history was 510, and that was during the recession.  Here, then, are the counts for houses sold in SCC in the last 17 years (as far back as I could go on the MLS):

2013 – 762

2012 – 810

2011 – 834

2010 -856

2009 – 853

2008 – 672

2007 – 510

2006 – 853

2005 – 992

2004 – 1146

2003 – 1136

2002 – 933

2001 – 996

2000 – 926

1999 – 1051

1998 – 1080

People still need to buy houses, for whatever reason it may be. The statistics tell us that they continue to do so here in November.  If you are thinking of selling your Silicon Valley home, don’t believe that you must wait until the new year.  A good, well priced, well presented, and well marketed home really can sell here at any time of year.  Unlike the northeast, we do not have terrible weather that makes showings difficult or unappealing.   If you’re interested in a fall or winter home sale, please call or email me.  We can discuss it, your home’s pricing and everything else relevant to give you good information on which to base your decision.

 

Related reading:  Holiday Home Selling: Good or Bad Idea?

  1. 3 beds, 2 full, 1 half baths
    Home size: 1,705 sq ft
    Lot size: 1,698 sqft
  2. 6 beds, 3 full baths
    Home size: 2,680 sq ft
    Lot size: 4,791 sqft
  3. 2 beds, 1 full bath
    Home size: 846 sq ft
    Lot size: 2,265 sqft
  4. 2 beds, 2 full baths
    Home size: 1,380 sq ft
    Lot size: 3,746 sqft
  5. 2 beds, 1 full, 1 half baths
    Home size: 880 sq ft
    Lot size: 2,439 sqft
  6. 0 beds, 1 full bath
    Home size: 673 sq ft
    Lot size: 261 sqft
  7. 4 beds, 2 full baths
    Home size: 1,344 sq ft
    Lot size: 9,844 sqft
  8. 4 beds, 2 full baths
    Home size: 1,720 sq ft
    Lot size: 7,318 sqft
  9. 3 beds, 2 full baths
    Home size: 1,398 sq ft
    Lot size: 6,490 sqft
  10. 1 bed, 1 full bath
    Home size: 1,034 sq ft
    Lot size: 1,001 sqft

See all Real estate in the city of San Jose.
(all data current as of 3/24/2017)

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

Today I’m sharing with you Silicon Valley real estate statistics which were presented to me by my company, Sereno Group. These are “by school district” and I think you will find them immensely insightful! First, though, a brief commentary on the overall findings, then statistics for single family homes (mostly houses but a few “duet homes”) in Santa Clara County, and lastly, the same info but for condominiums and townhouses.

Sereno Market Report Intro May 10 2014

 

Please find the real estate market statistics by school district in the Santa Clara County area next.  Please note that the San Jose Unified School District is extremely large and varied, and the numbers would be very different if you were narrowing it to Almaden Valley with Leland High School as opposed to some areas which are not performing nearly as well.

 

Market Report By School District Quarter 1 2004 Single Family Homes

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How long does it take to sell a Silicon Valley home in today’s market?  As always, it depends on how you slice and dice it!  “Silicon Valley” is not a super tightly defined area, but roughly includes most of Santa Clara and San Mateo counties, with a smattering of Alameda, Santa Cruz, and even San Francisco counties to boot.  Since the vast majority of it is in 2 counties, let’s have a look at them first.

The charts below were created from MLSListings.com, the real estate agent supported multiple listing service for our region.

(1) Single Family homes in San Mateo County and Santa Clara County – the days to sell is at a very low figure of 25!

San Mateo County & Santa Clara County single family home average days to sell

San Mateo County & Santa Clara County single family home average days to sell

(2) Condominiums and townhouses  in San Mateo County and Santa Clara County – the days to sell also sitting at 25, though the pattern has been a little different from single family homes.

SMC and SCC condos and TH - average days to sell

SMC and SCC condos and TH – average days to sell

 

The very broad, 2 county view looks amazing with the sale pending properties popping at an average of 25 days on the market. What happens if we narrow it to San Jose, the largest city in Santa Clara County, which has about 60% of the county’s homes? Continue reading

Sell your home the first timeYou keep reading that it’s a “seller’s market” in Silicon Valley real estate.  You hear about multiple offers and home prices getting pushed up.  Interest rates should be inching up in the new year – so competition remains strong.

Should you jump in as a San Jose area seller now?

Maybe, but if you do it, do it right!  The dirty little secret that no one talks about is that many Santa Clara County homes for sale are not selling.  They sit on the market, popping up on MLS searches for month after month.

There are quite a few common myths that home owners believe about selling their property. Believe these, and act accordingly, and your chances of selling are dramatically damaged:

  • my price is high, but buyers can always “make an offer”
  • it’s a seller’s market, my home does not have to be perfect
  • if I fix up the home to sell, the buyer may not like the changes (this one is especially common)
  • it was like this when I bought it, so I don’t have to improve it now
  • I have lived with (fill in the blank) forever, there’s nothing wrong with it

Getting the staging and pricing right matter tremendously.  Today let’s just focus on staging.
Continue reading

Oftentimes, the Silicon Valley real estate market in the month of August is a little slower than most of the rest of the year (worse still: December).  But with our prolonged and dire inventory shortage, I wondered if the market was slowing much this August.  So rather than guess or ask around what other agents are experiencing, I went to the source, our local MLS, to see what the numbers say.

One marker is the speed at which homes sell.  For single family homes in Santa Clara County, right now there are about 1.57 months of inventory – that’s pretty good if you’re selling and pretty tough if you’re buying.  It’s about the same for regular sales as for all sale types (short sales, REOs etc.)

Days to sell are still pretty short.  In August, it remains under a month for regular sales (but longer for distressed properties – if you can find them!).

August 23 2013 SCC days to sell SFH regular sales

What’s the takeaway? Home sellers who might be tempted to wait until September to sell may find that August isn’t a bad time after all – this year.  Our Santa Clara County real estate market is anything but uniform, so this birds eye view may not apply to your area, home type, pricing tier, etc.  Overall, though, even in August, it’s a hot seller’s market in Silicon Valley. (Realtors: it’s a good month to keep working!)

  1. 3 beds, 3 full, 1 half baths
    Home size: 1,458 sq ft
    Lot size: 1,524 sqft
  2. 3 beds, 2 full baths
    Home size: 1,475 sq ft
    Lot size: 1,263 sqft
  3. 2 beds, 2 full, 1 half baths
    Home size: 1,324 sq ft
    Lot size: 609 sqft
  4. 2 beds, 1 full, 1 half baths
    Home size: 1,256 sq ft
    Lot size: 1,742 sqft
  5. 3 beds, 2 full baths
    Home size: 1,232 sq ft
    Lot size: 5,619 sqft
  6. 3 beds, 2 full baths
    Home size: 1,254 sq ft
    Lot size: 5,270 sqft
  7. 2 beds, 2 full baths
    Home size: 1,292 sq ft
    Lot size: 5,009 sqft
  8. 3 beds, 1 full, 1 half baths
    Home size: 1,423 sq ft
    Lot size: 9,060 sqft
  9. 2 beds, 1 full bath
    Home size: 853 sq ft
    Lot size: 871 sqft
  10. 4 beds, 2 full, 1 half baths
    Home size: 1,939 sq ft
    Lot size: 2,918 sqft

See all Real estate in the city of Santa Clara.
(all data current as of 3/24/2017)

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

1 million dollarsThe average sales price of houses sold in Santa Clara County has been sitting at just over one million dollars for the last four months.  This isn’t shocking to Realtors active in the San Jose area, as we’ve seen appreciation going through the roof over the last 18 months or so.  In many areas, home values are up about 20% over a year ago.  But this fact did make front page news in today’s San Jose Mercury: Average Silicon Valley home tops $1 million.

What sort of home is that million dollar place in Silicon Valley?  To provide a quick snapshot, I ran the closed sales of single family homes (mostly houses but also some duet homes) for the last week in this county.  This is all of the county, both more and less expensive areas, with better and worse school districts, from Palo Alto to Gilroy.  On average, these properties were 43 years old with  living areas of approximately 2000 square feet on lots of about 11,000 SF and had been on the market for 22 days.  The average list price  was $1,055,765  and average sales price $1,089,940.

These numbers are horrifying for people considering our market from out of the area. But here – it’s just how it is.

  1. 4 beds, 2 full baths
    Home size: 1,344 sq ft
    Lot size: 9,844 sqft
  2. 4 beds, 2 full baths
    Home size: 1,720 sq ft
    Lot size: 7,318 sqft
  3. 3 beds, 2 full baths
    Home size: 1,398 sq ft
    Lot size: 6,490 sqft
  4. 4 beds, 3 full baths
    Home size: 1,969 sq ft
    Lot size: 5,619 sqft
  5. 5 beds, 3 full baths
    Home size: 1,852 sq ft
    Lot size: 6,098 sqft
  6. 3 beds, 2 full baths
    Home size: 1,629 sq ft
    Lot size: 5,749 sqft
  7. 4 beds, 3 full baths
    Home size: 2,470 sq ft
    Lot size: 4,617 sqft
  8. 4 beds, 2 full, 1 half baths
    Home size: 1,973 sq ft
    Lot size: 9,539 sqft
  9. 4 beds, 2 full baths
    Home size: 2,046 sq ft
    Lot size: 10,018 sqft
  10. 0 beds, 0 baths
    Home size: 3,488 sq ft
    Lot size: 5,488 sqft

See all Real estate matching your search.
(all data current as of 3/24/2017)

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

With the Silicon Valley real estate market reaching for some balance, the fear is that leveling off will turn into a market crash.  So far, we are not hearing of prices going down.  Conversely, they appear to continue their upward march!  But in Santa Clara County and San Jose now, we are not hearing so much about high numbers of bidders on properties.  Some homes which might have gone under contract with multiple offers a few months ago quietly march past offer due dates with no bids presented.  Even open houses seem quieter.

Some of what we are seeing is surely seasonal.  Some has to do with rising interest rates. And some, predictably, from buyers tired of giving away their rights when dozens of competing offers vie for the same property.  They are voting with their feet and waiting for more calm in the market.

But have sales slowed?  This morning I turned to MLSListings.com and ran the “sale pending” or “under contract” dates for single family homes in Santa Clara County by week since the begging of June.  I wasn’t sure what I’d find.  Interestingly, the total of the 7 weeks shows home sales pretty consistent with what we had last year, even though inventory is tighter now.  Have a look at the sale dates (pendings, not closings) for 2013, 2012 and 2011.

Santa Clara County under contract by week June July 2013

From this set of data, it appears that there is no cause for alarm – real estate sales seem to be at a healthy level despite what is happening with interest rates.  Sales in 2013 took a little dip the week of July 4th for all three years.  In 2013, it was a far bigger drop in sales the week after that, but those were more than compensated for the week after that.

Not tracked here, of course, are any of the other data points such as days to sell, sale price to list price ratio, or what happens if we tease out the real estate market by school districts, zip code, price point, etc.    All of these areas, and many more, can make the real estate market conditions where you live (or where you want to buy) very different.

  1. 3 beds, 2 full baths
    Home size: 1,322 sq ft
    Lot size: 3,092 sqft
  2. 4 beds, 2 full baths
    Home size: 1,933 sq ft
    Lot size: 6,316 sqft
  3. 4 beds, 4 full, 1 half baths
    Home size: 4,187 sq ft
    Lot size: 25,482 sqft
  4. 3 beds, 2 full, 1 half baths
    Home size: 1,705 sq ft
    Lot size: 1,698 sqft
  5. 6 beds, 3 full baths
    Home size: 2,680 sq ft
    Lot size: 4,791 sqft
  6. 2 beds, 1 full bath
    Home size: 846 sq ft
    Lot size: 2,265 sqft
  7. 2 beds, 2 full baths
    Home size: 1,380 sq ft
    Lot size: 3,746 sqft
  8. 3 beds, 3 full, 1 half baths
    Home size: 1,458 sq ft
    Lot size: 1,524 sqft
  9. 2 beds, 1 full, 1 half baths
    Home size: 880 sq ft
    Lot size: 2,439 sqft
  10. 3 beds, 2 full baths
    Home size: 982 sq ft
    Lot size: 435 sqft

See all Real estate matching your search.
(all data current as of 3/24/2017)

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

Condominiums and townhouses in Santa Clara County have enjoyed rapid appreciation and almost perfectly steady improvement in the market in the last 18 months or so.  Today we’ll take a snapshot view of it with a few graphs.  First, let’s consider the average Days on Market (DOM) and the sale price to list price ratio for condos and townhouses in Santa Clara County.

Santa Clara County Condos and Townhomes Average DOM & Sale to List Price Ratio July 2 2013

Santa Clara County Condos and Townhomes Average DOM & Sale to List Price Ratio July 2 2013

 The chart above shows some calming down in the Santa Clara County condo market.  First, it appears that the sale price to list price ratio stopped its wild ascent and has reversed itself some in June 2013.  But also, it seems that the days to sell leveled out (and stopped its decline).  Just to check on the apparent trend, I went to MLSListings and ran the numbers for the closed sales just yesterday and today (July closings).  The average sale price to list price was 106%, a tad lower than what we saw in June.

What about new inventory vs sold homes?  In the chart below, we see that the gap between them widened in June: more inventory, fewer sales (of course the June sales were contracts ratified in May, in most cases).  This also suggests a loosening in the condo market here. It’s not suddenly a buyer’s market, but perhaps we are seeing the beginning of a trend reversal?  Have a look at the chart:   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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Santa Clara County,
San Mateo County, and
Santa Cruz County.
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Special focus on:
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Almaden Valley,
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