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

Prices are up year-over-year due to a prolonged, unrelenting sellers market. Available inventory is less than half of what it was a year ago, while sales remain consistent. This is bad news for buyers – the market conditions can’t balance out without inventory to meet the demand!

Trends At a Glance Jan 2018 Previous Month Year-over-Year
Median Price $1,163,000 (-10.1%) $1,293,690 $929,000 (+25.2%)
Average Price $1,439,310 (-7.5%) $1,556,330 $1,259,470 (+14.3%)
No. of Sales 450 (-36.1%) 704 488 (-7.8%)
Pending 581 (+12.8%) 515 533 (+9.0%)
Active 376 (+38.7%) 271 762 (-50.7%)
Sale vs. List Price 108.9% (-0.4%) 109.3% 101.2% (+7.6%)
Days on Market 21 (+2.0%) 21 37 (-43.0%)
Days of Inventory 25 (+117.1%) 12 47 (-46.5%)

And the numbers from last month for comparison:

Trends At a Glance Dec 2017 Previous Month Year-over-Year
Median Price $1,293,690 (+0.4%) $1,288,500 $960,000 (+34.8%)
Average Price $1,556,330 (-3.9%) $1,619,100 $1,186,120 (+31.2%)
No. of Sales 704 (-11.1%) 792 746 (-5.6%)
Pending 515 (-32.1%) 758 544 (-5.3%)
Active 271 (-41.2%) 461 694 (-61.0%)
Sale vs. List Price 109.3% (+0.8%) 108.5% 101.2% (+8.0%)
Days on Market 21 (-3.5%) 22 34 (-39.3%)
Days of Inventory 12 (-31.6%) 17 28 (-58.6%)

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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 27 days. The sales to list price ratio remains well over list price at 107.1%. This shows that this seller’s market has only cooled a fraction 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 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%)

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

Trends At a Glance Dec 2017 Previous Month Year-over-Year
Median Price $1,005,000 (+5.8%) $950,000 $829,000 (+21.2%)
Average Price $978,761 (+3.5%) $945,578 $827,923 (+18.2%)
No. of Sales 13 (-43.5%) 23 13 (0.0%)
Pending 12 (-7.7%) 13 12 (0.0%)
Active (-16.7%) 6 (-44.4%)
Sale vs. List Price 108.7% (+3.1%) 105.5% 100.6% (+8.1%)
Days on Market 11 (-8.6%) 12 19 (-41.8%)
Days of Inventory 12 (+52.5%) 8 21 (-44.4%)

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 Jan 2018 Previous Month Year-over-Year
Median Price $725,000 (-5.8%) $770,000 $672,284 (+7.8%)
Average Price $724,400 (-5.9%) $770,000 $666,524 (+8.7%)
No. of Sales (+400.0%) 1 (-44.4%)
Pending 12 (+33.3%) 9 11 (+9.1%)
Active (+100.0%) 1 12 (-83.3%)
Sale vs. List Price 111.9% (-0.4%) 112.4% 100.1% (+11.8%)
Days on Market (+135.0%) 4 46 (-79.5%)
Days of Inventory 12 (-60.0%) 30 40 (-70.0%)
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. 4 beds, 3 baths
    Home size: 2,384 sq ft
    Lot size: 6,041 sqft
  2. 2 beds, 3 baths
    Home size: 1,291 sq ft
    Lot size: 1,197 sqft
  3. 4 beds, 3 baths
    Home size: 1,717 sq ft
    Lot size: 5,858 sqft
  4. 2 beds, 2 baths
    Home size: 1,085 sq ft
    Lot size: 444 sqft
  5. 3 beds, 4 baths
    Home size: 2,093 sq ft
    Lot size: 1,184 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 2/23/2018)

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

Evergreen area of San Jose (Silicon Valley)The Evergreen area is in the southeast foothills of San Jose and extends north toward Eastridge Mall. It includes a few zip codes – 95148, 95121, 95135, and a portion of 95138 (part is also “Santa Teresa” or “South San Jose”). There’s a lot of diversity in this region – the areas in the flatlands near the Mall, Reid-Hillview Airport, and waterpark are more modest and affordable as compared to the areas further south where you’re more likely to see luxury properties (Hillstone, Bel-Aire Estates, The Meadowlands, The Ranch on Silver Creek, Silver Creek Valley Country Club and nearby). Pricier areas feature larger lots and houses and valley or hillside views set near the golf courses (Silver Creek Valley Country Club, The Ranch Golf Club, and the Villages Golf & Country Club).

In general, Evergreen is scenic and includes many newer homes and communities. Many people enjoy the relative newness of construction and whole neighborhoods which are young, compared to the rest of Santa Clara County and Silicon Valley as a whole.

Evergreen real estate market for single family homes or houses

Please find the full report on my Real Estate Report for the Evergreen area of San Jose.

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

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How’s the Cupertino real estate market?

Cupertino - view from Ridge Vineyards

Cupertino – view from Ridge Vineyards

The real estate market in Silicon Valley can sometimes be a little quirky, so I like to approach this question from a few angles. In this article I’ll make use of  my charts from Altos Research, which uses listing data (not solds) and is automatically updated every week and also monthly reports from my RE Report subscription. Also I’ll periodically update it with info from the MLS that I have crunched myself or anecdotal stories from those of us “in the trenches.” The article is a bit long but I think much more comprehensive giving the multiple methods of answering the question of how the Cupertino real estate market is faring.

Cupertino median list price of houses by price quartile

Often the real estate market in any given city is very different between the most expensive homes and the most affordable ones. While many Cupertino home buyers are looking for a short commute, great public schools or strong resale value, some seek a luxury property with a view in the Cupertino hills (either off of Montevina Road by Ridge Vineyards or in other lower foothills).
Real Estate Market Chart by Altos Research www.altosresearch.com

The last few months have had some ups and downs in pricing, but most segments of the Cupertino real estate market have seen an overall uptick since last year. The luxury market in Cupertino had some calming over summer, but is back on the rise again. What if we look back more than a year? Combining the quartiles, it seems that there’s been more up than down.

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

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Mark your calendars, it’s time to clear out your E-Waste! From 9AM to 1PM on February 10th in Saratoga and Campbell, and on February 17th in Los Gatos you can drop off those old and broken electronics, courtesy of West Valley Collection & Recycling. Drop off is free and easy, but come prepared. Restrictions apply to what you can deposit (check the list below), and be ready with your ID to leave your name, address, and phone number, which will be kept confidential but is required by the State of California for E-Waste disposal.

ewaste 300x280 - Free E-Waste Drop Off this FebruaryWhat to Bring:

  • TVs
  • Monitors
  • Computers
  • Laptops
  • External hard drives
  • Keyboards and Computer Mouses
  • Printers
  • CD, DVD, & Blu-Ray Players
  • VCRs
  • CDs, DVDs, Blu-Ray Discs and VHS tapes
  • Scanners
  • Electronic Games
  • Radios and Stereos
  • Etc.

No Appliances, Batteries or Light Bulbs!

Please call (408)283-9250 for questions regarding other drop off items

Where to be?

Here are the drop-off locations as provided by WVC&R.

Drop Off for February 10, 2018 (Saturday) 9am – 1pm

Saratoga Prospect Center
19848 Prospect Rd, Saratoga 95070
Located between Miller Road and Saratoga-Sunnyvale Road

Orchard Community Church
157 E. Rincon Ave, Campbell 95008

Drop Off for February 17, 2018 (Saturday) 9am – 1pm

Calvary Church of Los Gatos
16330 Los Gatos Blvd, Los Gatos 95032

 

See the event flier herehttp://westvalleyrecycles.com/serviceareas/pdf/E-Waste-Feb2018.pdf

Or visit the WVC&R page on E-Waste here: http://westvalleyrecycles.com/serviceareas/singlefamily-universalwaste.html

 

 

How’s the Saratoga California real estate market?

Orchard and Hills in Saratoga, California

Orchard and Hills in Saratoga, California

This is a fairly comprehensive article on the Saratoga real estate market that will include the live statistics from Altos Research for listed properties (not closed) in Saratoga CA 95070, the closed sale data from the RE Report for last month in Saratoga 95070, and the numbers I crunched for Saratoga – overall and by price point and high school district, since Saratoga has 3 different high school districts, each with an impact on home values.

First, let’s consider the months of inventory by price point and high school district that I crunched using MLSListings.com, our local multiple listing service provider.

The months of inventory is a reference to how fast homes would be absorbed into the market if sales continued at the same pace and no new inventory came onto the market. It’s often referred to as “the absorption rate” – and that can be months of inventory, weeks of inventory, or days of inventory. A “balanced” market is somewhere around 4-5 months for us, though the National Association of Realtors says that 6 months is balanced nationwide. Anything under 3 is a good seller’s market, and under 1 is like saying that homes are “flying off the market.”

(For comparison, please also see a similar article on the Live in Los Gatos blog for the town of Los Gatos – real estate market by price point and high school district.)

Here’s the chart for Saratoga – all price points, all school districts.

2A - Saratoga, CA, Real Estate Market Update

And for comparison, here’s the chart from last month:

2A - Saratoga, CA, Real Estate Market Update

This month shows a the charts look bizarre. The overall MOI has lept up to 6, which is usually considered a balanced market or even a buyer’s market. But is that really the case here? Well, the months of inventory are determined by dividing the number of listings active by the number of sales. If you look at where the listings are and compare it to the sales, we can tell that while the highest price point, $5+ million, is a very slow, buyer’s market, which is common, the minute inventory which exists across other price points are selling as well as past months. Because the inventory across other price points is so small, this month’s data is hard to calculate, so this is when it is best to look a little farther back for general pricing. As always, each property is unique, so this chart is just a guide and finding the right price to list or offer requires closer inspection and is best done with the help of a qualified agent.

While the chart this month may not have the most helpful data for analysis, by comparing across school districts you can still see how different each area’s individual market can be. The overall MOI for different school districts this month ranges from 10, where all of the $5+ properties are, to indetermineable, where there was no inventory and one sale in the Fremont Union district. Small levels of inventory can create big data swings and make for less accurate charts, nevertheless, we can still spot trends if we know where to look.

 

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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 well over 100%, up at 108.8% though it is a drop since last December, and the average days on market are a low 13 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?

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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. 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 106.6%. Turnover has risen to an average of 20 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 February 16, 2018
Median List Price:$1,924,538Average List Price:$2,055,236
Total Inventory:11Price per Square Foot:$654
Average Home Size:2,877Median Lot Size:23,546
Average # Beds:4.13Average # Baths:3.25
Homes Absorbed:4Newly Listed:4
Days on Market:54Average Age:42

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

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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

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

Translation


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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
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

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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

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