How is the Campbell real estate market?How is the Campbell real estate market? Here are the numbers, but what do those numbers mean? The sales vs list price remains high, recently bouncing around 110-115%, and the average days on market are a low 9 days. Campbell is in a strong seller’s market.

Further down in this article, we’ll utilize the graphs from Altos Research, which uses list prices, and check out the trends in pricing by quartile in this zip code (meaning 4 groups based on the pricing tier from least to most expensive). Campbell condominiums and townhomes will be considered as well. And finally, a list of homes for sale in Campbell will be found at the bottom of the post.

First, here are some quick stats, care of my RE Report for Campbell:

What about the Campbell CA condo market?

Continue reading

Willow Glen real estate market is a strong seller's market. This Willow Glen sign is from the downtown business district.Willow Glen is perhaps the most charming residential area of the city of San Jose with its old style architecture, tree lined streets and quaint downtown area on Lincoln Avenue and nearby. For folks working in downtown San Jose, the Willow Glen area (roughly the same as 95125 zip code, though a bit of 95124 is included also) is extremely convenient. Inventory has fallen slightly since last year, but sales are remaining consistent. Properties continually sell regularly over list price quickly, in under a month. The Willow Glen real estate market remains very much a sellers market.

Click for the complete Willow Glen real estate report with all of the numbers, stats and trends from the closed sales of houses for last month. Further down in this article you’ll find the Altos Research charts as well.

Things are similar to last month. Willow Glen is still a hot, persistent sellers market that’s noticeably more competitive than a year ago.

And next, of Willow Glen condos:

Continue reading

Almaden Valley homes for sale and real estate market conditionsThe Almaden Valley real estate market is still in a stable sellers market. Winter brought about a steep drop in inventory, and this past summer failed to bring enough new listings to fulfill demand, leaving a heavy demand burdening the market. There must be either a lot more inventory, or significantly less demand, before we see anything close to a balanced market.

The Almaden Valley market is noticing minor warming, with homes selling, on average, above list price at 111.7%. Turnover is stable at an average of 7 days on market (or DOM). This tells us that while there may be minor fluctuation month-to-month, Almaden Valley is in a sustained, hot sellers market.

Please find the current statistics for single family homes (houses & duet homes) from my Almaden Valley real estate report (click on link for more info).

Almaden Valley San Jose 95120 Real Estate Statistics At A Glance

The data shows a strong sellers market remaining fairly consistent despite lower inventory over the winter. The best homes will see multiple offers, a response to low inventory and high demand.

Altos Research charts for houses in Almaden (San Jose 95120)

Please note that Altos Research uses list prices of Almaden Valley homes for sale, not sold prices.

An overview:

90-day stats for Single Family properties in
SAN JOSE, CA 95120 as of April 13, 2018
Median List Price:$1,778,577Average List Price:$1,933,479
Total Inventory:17Price per Square Foot:$640
Average Home Size:2,676Median Lot Size:10,066
Average # Beds:4.28Average # Baths:3.37
Homes Absorbed:6Newly Listed:8
Days on Market:23Average Age:40

Real Estate Market Chart by Altos Research www.altosresearch.com

Continue reading

Bel Estos Drive near Carlton and Rosswood in San Jose's Cambrian areaMy Cambrian area of San Jose Real Estate Report was recently published with the updated numbers from the closed sales last month for this part of San Jose (95124 and 95118 with a little of 95008 too). Please click on the link above to see much more information there.

In this district of San Jose, we have been experiencing dreadfully low inventory of homes for sale, and buyers aren’t backing off as much as usual for this time of year – I believe because there is just a whole lot of pent up demand from upwards of two years in a deep seller’s market. What does that mean? Sellers, if you have a problem home, or one not updated or well maintained, this is the time to sell it – buyers have little to choose from so are purchasing properties that need more work than they would bother with in a more balanced market.

Want to learn more about Cambrian Park real estate, the Cambrian district, Cambrian neighborhoods, school districts and zip codes? Please also see this article: Cambrian Park: Good Schools, Low Crime, Close to Los Gatos and Campbell. Cambrian neighborhoods can be located at the menu bar: Neighborhoods –> San Jose (all areas) –> Cambrian Park (SJ).

Be sure to read to the end to see the live Altos charts too – they are near the end of the article so please keep reading into the next page!

Generally speaking it is still a hot seller’s market and great time to sell a Cambrian home.

 Please see the whole Cambrian Real Estate Report for charts, stats and more.
Other related Cambrian district resources:
Learn about the Cambrian months of inventory, or absorption rate, by elementary school district.

The condo and townhouse real estate market for San Jose 95124 & 95118

The Monte Sereno real estate market is similar to Los Gatos, but distinct - Monte Sereno shares many features with Los Gatos but is a distinct cityHow is the Monte Sereno real estate market? Because the city is small, with just about 4000 residents, there usually are few homes listed for sale or selling, and with small numbers we can get seeming volatility. Last January, for instance, there was only one home listed and none sold!

There are no condominiums or townhomes in Monte Sereno at present. One of the major challenges for this city is to ensure that at least some housing units are deemed “affordable.” You can find the city’s housing plan here (a pdf online):
http://www.montesereno.org/DocumentCenter/Home/View/674

Recently closed home sales in Monte Sereno

Here are the quick statistics for the closed sales in the last complete month to give a sense of how things are going with the Monte Sereno real estate market. Sales data comes from my Monte Sereno Real Estate Report. Given that the supply of homes to study is tiny, what can we tell from this data?

It’s true that an average Monte Sereno house is about $2.5-3 million, and often higher in the current market – a little steep for most folks! With 7 active, 1 pending, and 1 sales this past month, low data makes it hard to get the most accurate market information. During times like this, it’s more important to look at the trends over multiple months than to base your understanding of the market off a single month, and to compare with similar, nearby markets such as Los Gatos.

Below are the charts from the last two months.

And a look at the data from the previous month for the Monte Sereno real estate market:

Continue reading to view live Altos Research charts for the real estate market in Monte Sereno, including by pricing quartile. Continue reading

Leo or Leona - the mascot of Los GatosThe Los Gatos real estate market is varied from one price point or school district to the next, but over all, this is a fairly stable period with some slight warming over the last couple of months. Here are the current numbers, per my Los Gatos real estate report (click on the link for full information).

The Los Gatos Mountains are a distinctly different market and as such are covered in a separate market update, updated less frequently than here, but with live Altos charts for that area.

Los Gatos / Monte Sereno housing values and pricing trends (aka “area 16” for our MLS, zip codes 95030 and 95032)

Do you love Los Gatos, live there now or want to live there? Please also visit the Live in Los Gatos Blog!

Learn about Los Gatos neighborhoods, see photos, videos, pricing information, age of homes and much more! Get frequent Los Gatos real estate market updates, find out about local events, business, see images of the parks, historic buildings, and get to know Los Gatos even better. “Live in Los Gatos” is an award winning blog, also written by local Los Gatos Realtor and resident Mary Pope-Handy – check it out today!

Live in Los Gatos Blog

Please continue reading for info on the Los Gatos condo market, and for real estate market information on Monte Sereno. Continue reading
Living room - view from the front door. Beautiful engineered hardwood floos, new baseboard, and fresh paint! - Fabulous condo for sale with Cupertino schools!

Living room – view from the front door. Beautiful engineered hardwood floos, new baseboard, and fresh paint!

Just listed! 6922 Chantel Court in the west San Jose community of Saratoga Place is now available and open house events are scheduled for the coming days. It’s very nicely updated and move-in ready. Wonderful chance to see and buy a condo for sale with Cupertino schools!

6922 Chantel Court, San Jose CA 95129

1 bed, 1 bath, 582 SF condo – Cupertino Schools! Quiet location in middle of the community!

Offered at $589,950

HOA Dues $317 (covers basic cable, water, and garbage)

Beautifully updated Saratoga Place condo! Move-in ready with fresh paint, new baseboard, new flooring, and new slab granite! Open floor plan. 6922 Chantel Court enjoys fantastic west San Jose location, border of Saratoga and Cupertino, with Cupertino schools.

Stunning, new engineered hardwood flooring in the living room, dining area, kitchen, hallway, and bedroom.

The kitchen provides new slab granite counters, freestanding oven / range with solid surface cook top, microwave, dishwasher, and fridge.

Spacious bathroom features a sink with new slab granite counter, shower over a large soaking tub, and toilet.

Adjacent to the bathroom is the laundry closet with a stacked washer dryer set, also included.

The good-sized bedroom offers 2 closets, one with mirrored doors. Access to the back patio and exterior storage closet.

Assigned carport.

Radiant heat in the ceiling.

Beautiful community pool and spa. Plenty of patio space for relaxing!

Quiet interior location in the complex. Ground floor unit.

Highly prized Cupertino schools: Blue Hill Elementary, Miller Middle, and Lynbrook High.

 

Please stop by our open house events at 6922 Chantel Court, San Jose, CA 95129 – come see a beautiful Saratoga Place condo for sale with Cupertino schools. The unit is in quiet location. Fantastic opportunity to get into highly prized schools at an amazing price!

Upcoming Open House Schedule – please stop by!

Saturday, March, 31 2 – 4pm

Full disclosure package for 6922 Chantel Court is available.

Virtual tour: http://www.tourfactory.com/1936239

 

Buying a home in Silicon Valley is seldom easy, but right now, it’s nearly impossible with Santa Clara County’s critically low housing inventory.  With slightly rising interest rates getting folks off the fence and strong job growth in the San Jose area – especially since Google announced its expansion in downtown, there are many more home buyers than home sellers.   While this isn’t unusual, the severity of the problem certainly is extreme.    How bad is it?  Here’s a visual cue dating from January 2001 to March 2018 which indicates that this month’s inventory of single family homes for sale in Santa Clara County is the lowest we’ve had for March since 2001 (that’s as far back as I can get the data from MLS Listings). I’ve been selling homes for 25 years and have never seen it so dire.

2018-03-23 Inventory of Single Family Homes for Sale in Santa Clara County (status 1 only)

This is sort of like “inventory limbo” – how low can you go? To me, this is uncharted territory for our region.

I am really wondering if other cities around the world have had this kind of inventory crisis in the past, and if so, what happened to pull them out of it. Obviously, we need more inventory, and that will mean either more new construction, incentives for current owners to sell, an easier way for people to commute long distances to work, or some combination of the three.

How does this impact you?

Many long time residents may recall that we have had a shortage for a few years here.  In January 2012, I wrote about it here: Why is it so hard to buy Silicon Valley real estate right now?  Compared to the recession that had just ended, inventory was low – I can look back now and think “wow, we had no right to complain!  We had a lot more inventory then as we do now!”  What also happened is that with the restricted inventory, home prices rose.  A lot.

If you are a renter and want to be a home buyer, you  now have two things going against you: rising interest rates and rising home prices (due to strong demand and critically low supply of homes to buy).  If you wait a year, there’s a good chance that you will lose quite a lot of buying power as interest rates continue to go up and home prices do, too.   Please check out my article on rates: How will rising interest rates impact your home buying power?  Super low inventories tend to cause rapid price appreciation, and if you aren’t careful you could be priced out of the market (either because of home prices or because of those rising interest rates).

Normally, I’d be saying “take heart, buyers, inventory usually starts to rise after the SuperBowl” or “inventory rises after Valentine’s Day” or “we’ll see more homes coming on the market in March”. Well, it just hasn’t happened to any kind of significant degree.

If you are a seller, this is great news for you as it’s very likely that your equity will be increasing with the tight inventory.  Buyer demand is good and interest rates are still very tolerable.  It is hard if you want to sell and buy something else, but if you are down-sizing, you may be able to capitalize by purchasing all cash.

If you are a buyer, it’s important to realize that these days, most homes are selling with no contingencies of any kind (loan, appraisal, inspection). Purchasing a condo, townhome, or house is not for the faint of heart! Being not just pre-approved, but having an underwriter’s approval subject only to the ratified contract, a preliminary title report, and a satisfactory appraisal will put you into a better position. Cash is king, of course, so being able to absorb any appraisal shortfall is crucial. However, don’t let the all cash buyers scare you as some of them over estimate the value of cash. Most sellers will wait a few extra days if it means making more money on the sale.

Blossom Festival - celebrating Saratoga's orchard historyThis March, travel back in time to the early- to mid-20th century and celebrate Santa Clara Valley’s heritage with the Saratoga Historical Foundation and the City of Saratoga’s Blossom Festival.

When the hills of Los Gatos, Saratoga, and the surrounding regions were covered with fruit blossoms every year, a Blossom Festival was held with parades, food, games, and theatrical performances. These massive celebrations saw visitors come from miles around to enjoy the beauty of the valley and the festivities.

On March 24th from 10am-4pm, the Saratoga Heritage Orchard and Civic Center area will be host to a new Blossom Festival. The event is free and family friendly. Children may enjoy kids craft and activity tables and a petting zoo. History buffs can rub elbows with costumed characters from Saratoga’s by-gone-days, see vintage vehicles, motors, and tractors, and swing to a live band playing tunes from the 1930s-40s. Foodies might enjoy gourmet food trucks, prune and apricot tasting (the prize crops of the Valley of Heart’s Delight), and docent-led orchard tours. There will also be artists, craftspeople, entertainment, and more!

Join us in the orchard under a snowfall of pink and white flower petals and celebrate the beauty of the changing season at the Saratoga Blossom Festival!

 

Saratoga Heritage Orchard and Civic Center area

13777 Fruitvale Avenue in Saratoga, CA

March 24th from 10am-4pm, free to all!

http://www.saratogahistory.com/blossomfestival/

Silver Leaf Park in the Santa Teresa area of San Jose - the proximity of parks will impact the Santa Teresa real estate market for that neighborhood

Silver Leaf Park in the Santa Teresa area of San Jose

How’s the market in the scenic Santa Teresa area of San Jose? The part of Silicon Valley is usually a bit “softer” as it’s farther from most work places and the school scores are generally not super strong, either. That being said, the Santa Teresa real estate market, like most of Santa Clara County, has been hot since before 2017. The average Days on Market are low at 21 days. The sales to list price ratio remains well over list price at 110.0%. This shows that this seller’s market has only heated up since last month. Santa Teresa is in a stable, hot seller’s market.

Here’s quick view of the real estate statistic and trends for just the Santa Teresa area’s single family homes (houses / duet homes):

Santa Teresa real estate market stats & trends

Trends At a Glance Feb 2018 Previous Month Year-over-Year
Median Price $1,040,000 (+7.8%) $965,000 $851,000 (+22.2%)
Average Price $1,056,070 (+7.6%) $981,036 $872,268 (+21.1%)
No. of Sales 14 (0.0%) 14 11 (+27.3%)
Pending 18 (+28.6%) 14 13 (+38.5%)
Active 11 (+57.1%) 7 10 (+10.0%)
Sale vs. List Price 110.0% (+2.7%) 107.1% 103.8% (+6.0%)
Days on Market 11 (-60.2%) 27 34 (-67.6%)
Days of Inventory 21 (+41.4%) 15 25 (-13.6%)

And from last month, for comparison, the Santa Teresa real estate market:

Trends At a Glance Jan 2018 Previous Month Year-over-Year
Median Price $965,000 (-4.0%) $1,005,000 $850,000 (+13.5%)
Average Price $981,036 (+0.2%) $978,761 $832,273 (+17.9%)
No. of Sales 14 (+7.7%) 13 11 (+27.3%)
Pending 14 (+16.7%) 12 (+55.6%)
Active (+40.0%) 5 10 (-30.0%)
Sale vs. List Price 107.1% (-1.5%) 108.7% 101.3% (+5.7%)
Days on Market 27 (+151.1%) 11 30 (-9.9%)
Days of Inventory 15 (+30.0%) 12 27 (-45.0%)

You can read the Santa Teresa area real estate market report at this link if you’d like more details and statistical analysis. This particular page goes to the report for houses, but you can navigate home type to see condos/townhomes or any other area in San Jose, Santa Clara County, San Mateo County, or Santa Cruz County.

 Also, please note that zip codes don’t always relate to the districts. Zip code 95138 is a great example of that as part of it is in Santa Teresa and part in Evergreen (pricey and upscale Silver Creek). Pull up the averages for 95138 and you might think all the homes are selling for around $1.4 million. But if you look in the charming but more affordable Silver Leaf area of the same zip code, you’ll find the cost half as much – or less! So too with 95123 (though less dramatic) as about half of that is in Blossom Valley and part in Santa Teresa.
It’s good to do a lot of research, but beware the “easy answers” of price per square foot or average sales price per zip code. Often your best help will come from a highly experienced real estate professional who’s willing to help you to crunch the numbers for the Santa Teresa real estate market (boring grunt work but not actually difficult).
And don’t forget the condo market! This can be even more difficult to pin down because of the small amount of data and the wide variety of values. Here’s a quick look at the current Santa Teresa condo market from the RE Report data:
Trends At a Glance Feb 2018 Previous Month Year-over-Year
Median Price $785,000 (+8.3%) $725,000 $618,000 (+27.0%)
Average Price $809,417 (+11.7%) $724,400 $664,625 (+21.8%)
No. of Sales 12 (+140.0%) 5 (+50.0%)
Pending (-33.3%) 12 16 (-50.0%)
Active (0.0%) 2 14 (-85.7%)
Sale vs. List Price 110.8% (-1.0%) 111.9% 102.7% (+7.8%)
Days on Market (-7.8%) 9 58 (-85.0%)
Days of Inventory (-62.5%) 12 47 (-90.5%)
Disclaimers made, here are some Altos Research numbers for the four Santa Teresa zip codes:

Real Estate Market Chart by Altos Research www.altosresearch.com

You’ll note that one of the four zips is super high – this is 95138, which has a number of homes in The Ranch, a subdivision in Evergreen near Silver Creek. The part of 95138 which is in Santa Teresa is considerably more affordable, well under $1 million in the vast majority of cases. So let’s take that one out so we can get a better feel for the true pricing of Santa Teresa homes.

Real Estate Market Chart by Altos Research www.altosresearch.com

Here two of the zip codes seem to be on track with each other, but 95123 is going at a different pace. Half of that area is Blossom Valley, which tends to be a stronger market. Regardless, it would seem that overall, the median list price of homes for sale in Santa Teresa has gone from the mid 700 thousands to the mid 800 thousands over the last year, now hanging out close to the 900 mark. And that’s about what I have seen, anecdotally, too.

Santa Teresa homes for sale

Interested in buying a house, townhouse or condominium in the Santa Teresa area? Below, please check out a list of available properties, listed in order of most recently added to the MLS first. Or better yet, call or email me to discuss working together!

 

  1. 2 beds, 2 baths
    Home size: 992 sq ft
    Lot size: 797 sqft
  2. 4 beds, 4 baths
    Home size: 2,124 sq ft
    Lot size: 5,998 sqft
  3. 3 beds, 3 baths
    Home size: 1,623 sq ft
    Lot size: 5,898 sqft
  4. 4 beds, 3 baths
    Home size: 1,722 sq ft
    Lot size: 3,942 sqft
  5. 5 beds, 3 baths
    Home size: 2,347 sq ft
    Lot size: 6,050 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 4/21/2018)

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

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 of 2018 by RentPrep2018 RentPrep.com's list of top 25 real estate blogs to follow


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: 1 
  • Visitors today : 1,776
  • Page views today : 5,716