West San Jose
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
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of them quickly) as well as those which linger on the market a long time and eventually become cancelled, expired or withdrawn listings.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:
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.
If we were to look only at Cambrian houses listed under $1 million, we’d find that the market is hotter still:
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
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.
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.
Mid-century modern homes, including those designed by Joseph Eichler, dot the Silicon Valley & South Bay Area real estate landscape. There are probably more than 5,000 Eichlers in Santa Clara County altogether, plus all the other homes of that genre with the similar modern style, which was influenced by the ranch and prarie styles as well as the dramatic work by Frank Lloyd Wright (open beam ceilings, nearly flat roofs, lots of exposed wood & glass windows stretching from the floor to the ceiling). Eichlers, especially, put a premium on privacy from the street but open to the outdoors otherwise.
Not every community in Santa Clara County has Eichler homes, but most have the mid-century modern style homes & neighborhoods. These homes vary from tiny, modest cottages of 1100 square feet to large & elegant houses of nearly 3,000 square feet, featuring big, central atriums or courtyards. (There are also some co-ops in the valley too.) The quality varies, as the homes were constructed by several different builders with different home buying budgets in mind. Real estate prices range from “entry level” to very expensive, depending on the location (city and schools), size of the home & lot, and condition of the property. Most of them are now about 50 years old, though some are a little younger.
Some of the West Side Silicon Valley Communities which feature Eichler and Mid Century Modern Homes
In Los Gatos there are no Eichlers but there are a small handful of single family homes which are mid-century modern on Eastridge Drive (just off Blossom Hill Road and Hillbrook). There are a couple more at the end of Magnuson Terrace (off Magnuson Loop and Los Gatos Blvd). Additionally, there are some smaller mid-50s homes on El Gato (and adjacent portions of Escobar) off of Los Gatos-Almaden Road. Unfortunately, not all of these homes are “well kept”, though many are.
Monte Sereno is home to 16 Eichler designed houses on Via Sereno beginning at the intersection of Winchester Blvd with Via Sereno. These houses were built in the late 60s to early 70s.
A newer “mixed use” neighborhood in San Jose, Santana Row is popular with people of all ages and interests. It is not just a “shopping center”, but is really a community, one which offers a wide variety of dining, shopping and entertainment, suitable for all kinds of budgets too. Best of all, it’s right in the heart of Silicon Valley.
Dining at Santana Row varies from very formal and expensive to casual and snack-like, and the type of food available ranges widely too. A fairly new addition is Pinkberry, which seems to be growing quickly in popularity. There are about thirty cafes, bistros and restaurants and to date I’ve probably visited about one-third of them – all experiences positive.
Entertainment at SR goes beyond window shopping and includes live music and, of course, films at the movie theater. Many chose to simply peoplewatch, take in a good book or catch a game of chess with a friend while enjoying a beverage. A Farmer’s Market features produce, flowers and other goods each week (and there’s a Safeway just a block or two away also) and is a good excuse to browse the offerings. Or maybe splurge a little and enjoy some pampering at a spa or salon: Santana Row’s got that, too.
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:
SOLD WITH MULTIPLE OFFERS IN 8 DAYS!
Fabulous opportunity in West San Jose – a beautifully remodeled 4 bedroom, 2 bath house with top Cupertino schools and exquisite English country garden is now for sale, offered at $1,099,000 at 1486 Larkin Avenue, San Jose CA 95129. This is not just any ranch style home in Silicon Valley, but a lovingly and impeccably updated, remodeled and maintained home on a scenic, tree lined street. A visit will convince you that this house has been cared for and upgraded with a tremendous level of detail and sophistication.
Top Cupertino schools, all with API scores well over 900!
Schools are a major driver of real estate desirability in Santa Clara County, and nowhere is that more true than in Cupertino and the parts of San Jose which enjoy its schools. All three educational levels of school enjoy extremely high Academic Performance Index or API scores.
The grammar or elementary school for this property is John Muir Elementary School (API 944). The middle or junior high school is Joaquin Miller Middle School (API 981) and the secondary or high school is Lynbrook High School (API 943). All three of these schools are very highly regarded, and in fact prestigious.
Not just a school district – this is a marvelous West San Jose home and yard!
Lest we treat this as though buyers were only interested in schools, let’s talk about this wonderful house too.
The kitchen is an absolute showpiece with a professional grade Viking range, Vent-a-hood, granite counters, ultra hard maple cabinets (painted white), dramatic vaulted ceilings with 2 large, electronically operated skylights, and much more! Throughout the home you’ll find high quality elements, including dual pane windows, hardwood floors (some under carpeting), remodeled baths, and on and on. I invite you to have a look at the virtual tour, embedded below, and to read the description on each page. There’s even more information immediately below that with the MLS information added too.
We're sorry, but we couldn't find MLS # 81217609 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
Merrivale West is a very popular community of 248 townhouses, built by Ditz-Crane in beginning in 1972, in the “West San Jose” area offering beautiful grounds & homes as well as a fantastic commute location and low HOA dues (homeowner association fees).
Where is Merrivale West?
This complex is found near the intersection of San Tomas Expressway and Payne Avenue in the 95117 area of San Jose. The main road running through the neighborhood is Millich, but there are a number of smaller streets with the designation of “square” too (Merrivale Square, for instance). From this location, it’s a quick jaunt to Santana Row (just 2 miles!) or to downtown Campbell. It’s easy freeway access too. The location is one of the main reasons for the popularity of this area.
View Merrivale West San Jose Townhouse Community in a larger map
What does it cost to buy a townhouse in Merrivale West?
Homes vary in size and precise location as well as interior condition. Properties are selling from just a hair under $720,000 to the mid or high 7’s in most cases, though there was one that sold just over $800,000 earlier in 2016. Of course the price tag is also greatly influenced if it’s a short sale or bank owned (REO) property. Larger homes, such as the 1152 sf model (2 bed/2 bath) generally sell at the higher end of the price spectrum. Overall, though, selection tends to be slim: homes here sell fast, (in 2016 most have sold in under two weeks,) and the perpetual desirability of the neighborhood helps to keep values up.