In west San Jose with the 95129 zip code, near the borders of Saratoga, Cupertino, and Campbell, you’ll find the much beloved Happy Valley neighborhood. The nearby school, which is highly regarded, is Country Lane Elementary, so the area is also known as the Country Lane neighborhood. This is a quiet pocket of understated but very comfortable ranch style homes on lovely tree lined streets.
I have a lovely listing in this neighborhood at 4843 Englewood Dr, San Jose, CA 95129 – please click on the link and check out all the details and photos!
Where is the Country Lane or Happy Valley neighborhood?
The Country Lane or Happy Valley neighborhood is bordered by Doyle Road, Saratoga Avenue, Prospect Road, and Lawrence Expressway. It is almost shaped like a triangle – but not quite. At the southern tip of the area is a commercial complex with a number of shops, restaurants, a hardware store, and much more. Just across Saratoga Avenue from there is Westgate, and “kitty corner” is El Paseo de Saratoga (with movie theaters as well as stores and restaurants). Prospect has more shops, including a See’s Candies, a car wash, eateries, you name it.
How is the commute from this part of West San Jose? What’s nearby?
Depending on where you live in the Country Lane or Happy Valley community, it is about 1.5 miles to either Highway 280 or Highway 85, but you may find that you can commute via Saratoga Avenue, Lawrence Expressway, or San Tomas Expressway. Look at the map, below, to notice how very convenient this location is!
From this area, it may be a comfortable stroll or bike ride to a number of shops and eateries. Continue reading
How’s the Saratoga California real estate market?
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.
And for comparison, here’s the chart from last month:
This month the data is back to what’s been the norm as of late – a strong seller’s market with fairly low inventory. Just under 2 MOI is a hot market, but if you look at where the listings are and compare it to the sales you are able to see there is at least one big exception. We can tell that the highest price point, $5+ million, is a much slower buyer’s market, which is common, and the other price points are frequently even lower than the average. Because the inventory is so small, the data can be easily distorted, so it is helpful to look a little farther back for general trends and 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.
By comparing across school districts you can also see how different each area’s individual market can be. The overall MOI for different school districts this month ranges from 2.375 to 0.75. 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.
Luxury home sales are going like crazy in the west valley areas of Santa Clara County. Right now in Almaden Valley, Los Gatos, Monte Sereno and Saratoga, there are 115 houses for sale listed at or more than two million dollars (just checked MLSListings.com), and in the last 30 days 52 have sold and closed escrow in those same areas and price ranges. For the Almaden – Saratoga region generally, then, there are 2.212 months of inventory in the over two million dollar price range (115/52). That makes it a strong seller’s market. Things have certainly stayed lively since last year. (In the same region, there are 39 pending sales.)
Next we’ll look at these four Silicon Valley communities separately to see how the luxury market in each one is faring overall.
Almaden Valley (San Jose, 95120)
Currently in Almaden there are 12 houses for sale which are listed at or over $2,000,000. In the last 30 days, 3 sold in that price range (with 2 sales pending). That makes for 4 “months of inventory,” which can be considered a balanced market in many areas though is leaning towards being a seller’s market. That would mean this luxury market has good turnover but is not as strong a market as elsewhere. It’s a close to balanced market in Almaden Valley among the most expensive real estate offerings for sale. Five to six months is balanced and over six is a buyer’s market. Continue reading
Update on the Santa Clara real estate market: The realty market in the city of Santa Clara, like the rest of Silicon Valley, is one in which the sellers have a strong upper hand.
Below there are charts for the activities over the last few months. Low inventory from the past year and continuous low inventory around the rest of the Valley means there is still a much greater demand to fill than properties available. This is clear in the sales price vs list price, which at it’s current high of 119.5%, and has been on the rise after staying near 110% for months. Also, the speed of market turnover (how long a house is on the market) has remained low as far back as we can see on these charts and in under a month. Further in the article, we’ll check in on the condo market, too.
Here’s a glance at the Santa Clara real estate market for single family homes. See the statistics and trends for closings and listings for last month – updated each month on about the 5th – 10th on my RE Report site for realty stats & trends in Santa Clara:
|Trends At a Glance||Mar 2018||Previous Month||Year-over-Year|
|Median Price||$1,600,000 (-3.3%)||$1,655,000||$1,125,000 (+42.2%)|
|Average Price||$1,616,220 (-4.1%)||$1,685,290||$1,236,620 (+30.7%)|
|No. of Sales||57 (+83.9%)||31||45 (+26.7%)|
|Pending||42 (-6.7%)||45||45 (-6.7%)|
|Active||18 (0.0%)||18||38 (-52.6%)|
|Sale vs. List Price||119.5% (+2.2%)||117.0%||106.3% (+12.4%)|
|Days on Market||9 (-37.2%)||14||13 (-35.5%)|
|Days of Inventory||9 (-39.6%)||16||25 (-62.6%)|
And the Santa Clara real estate market statistics from last month:
How’s the Mountain View real estate market? This is one of the very hottest areas within Silicon Valley and is home to a myriad of high tech companies and in a stone’s throw of others. With a charming and walkable downtown, easy access to CalTrain and a vibrant atmosphere conducive to both work and play, it is no wonder that people relocating to the San Francisco Bay Area or Silicon Valley place Mountain View squarely in their target.
All that popularity comes at a cost, though. Prices have been sky high here for years, both for rentals and for home purchasing. The good news, though, for those with property or those who take the plunge and buy: it doesn’t look like Mountain View is going to lose its appeal anytime soon.
In this article, which is updated periodically, we will include live Altos Charts which automatically update weekly (so bookmark this page!) as well as monthly insights from the Real Estate Report for Mountain View. And time to time it will be enhanced with “in the trenches” commentary, too.
Overview of the city of Mountain View’s residential real estate market for houses:
Here are the statistics for sales in the last few months. You can see that the average days on market are low at 9 days with homes on average selling well over list price at 114.5%. Overall, the Mountain View housing market is still a steady seller’s market. See the whole Mountain View Real Estate Report online here.
|Trends At a Glance||Mar 2018||Previous Month||Year-over-Year|
|Median Price||$2,550,000 (+5.7%)||$2,412,500||$1,815,000 (+40.5%)|
|Average Price||$2,528,430 (+7.3%)||$2,356,290||$1,922,770 (+31.5%)|
|No. of Sales||21 (+50.0%)||14||22 (-4.5%)|
|Pending||17 (-15.0%)||20||17 (0.0%)|
|Active||6 (+50.0%)||4||9 (-33.3%)|
|Sale vs. List Price||114.5% (-3.4%)||118.5%||105.8% (+8.2%)|
|Days on Market||9 (-48.1%)||17||27 (-67.5%)|
|Days of Inventory||9 (+11.1%)||8||12 (-30.2%)|
And the chart from last month for comparison:
|Trends At a Glance||Feb 2018||Previous Month||Year-over-Year|
|Median Price||$2,412,500 (+0.5%)||$2,400,000||$1,777,500 (+35.7%)|
|Average Price||$2,356,290 (-5.4%)||$2,491,000||$1,765,930 (+33.4%)|
|No. of Sales||14 (+180.0%)||5||14 (0.0%)|
|Pending||20 (+17.6%)||17||11 (+81.8%)|
|Active||4 (-20.0%)||5||16 (-75.0%)|
|Sale vs. List Price||118.5% (+4.3%)||113.6%||109.7% (+8.0%)|
|Days on Market||17 (+99.8%)||8||14 (+21.1%)|
|Days of Inventory||8 (-74.3%)||30||31 (-75.0%)|
The Sunnyvale real estate market has been trending upward for many months. In general, houses in Sunnyvale are selling for about one million eight hundred thousand dollars – if they aren’t too small or in terrible shape (or conversely palatial or newly built or remodeled). Let’s begin with single family homes. The median list price for homes in Sunnyvale CA – all zip codes combined – interestingly, the high end homes are doing the best! (Live charts from Altos Research, which uses LIST prices, not sale prices.)
Sunnyvale real estate market: Altos Research, median list prices by quartile
What about the numbers for the closed sales? Now let’s have a look at the Sunnyvale CA RE Report for last month’s trends and statistics (click on link to get the full Sunnyvale real estate market report):
|Trends At a Glance||Mar 2018||Previous Month||Year-over-Year|
|Median Price||$2,100,000 (+6.1%)||$1,980,000||$1,630,000 (+28.8%)|
|Average Price||$2,021,230 (+1.0%)||$2,001,490||$1,662,760 (+21.6%)|
|No. of Sales||47 (+67.9%)||28||41 (+14.6%)|
|Pending||52 (+62.5%)||32||47 (+10.6%)|
|Active||22 (+29.4%)||17||35 (-37.1%)|
|Sale vs. List Price||120.4% (-0.9%)||121.5%||111.7% (+7.8%)|
|Days on Market||10 (+1.5%)||9||11 (-10.8%)|
|Days of Inventory||14 (-14.3%)||16||26 (-45.2%)|
And from last month for comparison:
|Trends At a Glance||Feb 2018||Previous Month||Year-over-Year|
|Median Price||$1,980,000 (-0.8%)||$1,995,000||$1,618,000 (+22.4%)|
|Average Price||$2,001,490 (+4.3%)||$1,919,180||$1,563,540 (+28.0%)|
|No. of Sales||28 (-9.7%)||31||23 (+21.7%)|
|Pending||32 (+28.0%)||25||25 (+28.0%)|
|Active||17 (+21.4%)||14||28 (-39.3%)|
|Sale vs. List Price||121.5% (-1.6%)||123.5%||109.7% (+10.8%)|
|Days on Market||9 (+2.6%)||9||14 (-32.0%)|
|Days of Inventory||16 (+21.0%)||14||33 (-50.1%)|
Yeowch! This market’s beyond hot – it’s scorching! The average sales haven’t cooled much since the last month with the average sales happening at 120.4% of list price. Properties are still flying off the shelves at 10 days on market.
What about the Sunnyvale condo and townhome market?
Please stop by a Sereno Group office listed below to take part in a FREE e-waste, e-recycling
collection event on Sunday April 21, 2018 9:00AM- 1:00- PM.
A FREE e-waste collection event is being held in 3 area Sereno Group offices on Sunday, April 21, 2013 from 9:30am to 1:30pm:
Where to go to drop off the approved items?
Corner of Emerson and Lytton Avenue
LOS ALTOS * SHREDDING AVAILABLE AT THIS LOCATION *
369 S. San Antonio Road (Sereno Office Parking Lot)
LOS GATOS * SHREDDING AVAILABLE AT THIS LOCATION *
214 Los Gatos – Saratoga Road (Sereno Office Parking Lot)
1425 Lincoln Avenue (WG Elem. School Parking Lot)
2407 Porter Street (Sereno Office Parking Lot)
What to Bring, what’s accepted:
- Computers / Laptops / Servers
- Televisions / Monitors
- DVD / CD Players
- Fax Machines / Printers
- Copy Machines
- Toner Cartridges
- Speakers / Stereo Equipment
- Rechargeable Batteries
- Telecome Equipment / Telephones / Cell Phones
- Wire / Cabling / Printed Circuit Boards
- Aluminum / Scrap Metal
- Microwave Ovens
Items NOT Accepted:
- Alkaline Batteries
- All Lightbulbs
- DLP TV’s
GreenMouse Recycling shreds and Grey Bears reconfigures all hard drives so no one can access your personal information!
Additional details: https://www.serenogroup.com/Earth-Day-E-Waste-Event
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.
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
Do you love west San Jose and the 95129 area? Please also read about the Happy Valley neighborhood (aka Country Lane neighborhood)!
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.
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.
This 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!