Los Gatos - aerial viewEvery day, I seem to get an email or have a conversation on what “the market” is doing.  Trouble is, we like easy answers and that doesn’t work here.  We don’t have ONE Silicon Valley real estate market.  We have a whole bunch – or maybe myriad – of smaller markets.

The market for historic homes in Willow Glen is very different from the market for condos at Santana Row.  The market for luxury properties in Almaden is extremely different from that of starter houses in Cupertino or Palo Alto.  The condo market in Saratoga with Saratoga schools  is not the same as the townhouse market in Cambrian with Union Schools.

You get the idea.

And yet, there are anecdotal stories of things calming down.

Last week I closed a buyer sale in Evergreen where there were 14 offers.  That seems to be increasingly unusual.  Word among real estate agents seems to be that while traffic is decent at open houses, it’s not what it was in early spring. Hint: this may be seasonally normal!  June is almost always slower than the Feb – April window!

I’m hearing agents talk about great listings that get one or two offers rather than many multiples.

I’m hearing that in some segments of the market, one home in four now needs a price reduction.

All of that said, to know what’s happening, it is absolutely imperative to drill down to YOUR market, whatever it may be.  It could be Los Gatos betwen $1.5 and $2 million.  It could be entry level Saratoga with Saratoga schools.  It could be Almaden with whichever high school (Leland, Pioneer, Leigh, Los Gatos).  Or some other configuration.  What is certainly true is that the relevant market for you, whether buying or selling, is the hyper local market.

Hyper local is usually more than just a zip code, as within the zip code there are different pricing tiers and frequently different school districts or other highly important factors.  To drill down to the relevant comparables, please work with a local real estate professional who knows how to crunch the numbers.  “Easy answers” may make good sound bites, but they don’t make a good basis for an informed real estate perspective for buying or selling.  It’s way too important to get this wrong.

Translation

by Transposh - translation plugin for wordpress
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
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
Let’s Connect
Find Mary on FacebookFollow Mary on Twitter
RSS FeedFollow Mary on YouTube

Please see more icons
at the bottom of the page.

The real estate search
Use the widget below to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now? Use the "find a home" link on the menu above (next to the "home" button).
Mary’s other sites & blogs
Valley Of Hearts Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling

Silicon Valley Real Estate Report
Silicon Valley real estate
market trends & statistics
Mary’s Blog Awards
Top 25 real estate blogs 2016
2016: Personal Income's list of top 25 real estate blogs.


Best Realtor blog award
2016: Coastal Group OC's list of best Realtor blogs


The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

Categories
Site Statistics
  • Users online: 3 
  • Visitors today : 427
  • Page views today : 1,827