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Santa Clara real estate market - The Santa Clara Women's Club http://www.santaclarawomansclub.org/

The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/

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 is currently 110.9%, but has generally remained between 100%-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:

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 have dropped to 8 days and inventory is up slightly. Prices are up slightly month-over-month with homes on average selling over list price at a whooping 115.2%. Overall, there’s been some warming in the Mountain View housing market, but this is still a steady seller’s market. See the whole Mountain View Real Estate Report online here.

Mountain View Stats At A Glance:

Year-Over-Year

  • Median home prices increased by 3.3% year-over-year to $2,037,500 from $1,973,000.
  • The average home sales price rose by 14.3% year-over-year to $2,131,450 from $1,864,870.
  • Home sales rose by 11.1% year-over-year to 20 from 18.
  • Active listings fell 30% year-over-year to 35 from 50.
  • Sales price vs. list price ratio rose by 3.5% year-over-year to 115.2% from 111.3%.
  • The average days on market fell by 43% year-over-year to 8 from 13.

Compared To Last Month

  • Median home prices improved by 1.6% to $2,037,500 from $2,005,000.
  • The average home sales price rose by 3.5% to $2,131,450 from $2,058,790.
  • Home sales up by 5.3% to 20 from 19.
  • Active listings increased 20.7% to 35 from 29.
  • Sales price vs. list price ratio increased by 5.7% to 115.2% from 109.0%.
  • The average days on market dropped by 41.2% to 8 from 13.

Mountain View real estate market trends and data by neighborhood

My Real Estate Report drills down the data by neighborhood in Mountain View (and also Palo Alto and San Jose – the latter being very understandable as it’s almost 1 million people, rather than Mountain View’s 75,000 people). Want to check out these areas? Then visit popehandy.rereport.com, select Santa Clara County, then under city choose Mountain View, and under ZIPS select the area you want. Here are your options there:

Please continue reading to see the data for condominiums and townhouses, plus also the live Altos Research charts for both single family homes and also condos and townhomes.

Continue reading

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%, exceeding 107% this month, and the average days on market remain low at 27 days. Campbell is still in a 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

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 nearly two years of 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

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!

Cambrian area sales at a glance:

Year-Over-Year

  • Median home prices increased by 6.3% year-over-year to $1,100,000 from $1,035,000.
  • The average home sales price rose by 5.4% year-over-year to $1,108,780 from $1,052,440.
  • Home sales fell by 11.9% year-over-year to 52 from 59.
  • Active listings fell 33.6% year-over-year to 81 from 122.
  • Sales price vs. list price ratio fell by 0.6% year-over-year to 105.8% from 106.4%.
  • The average days on market rose by 19.6% year-over-year to 13 from 11.

Compared To Last Month

  • Median home prices improved by 8.4% to $1,100,000 from $1,015,000.
  • The average home sales price rose by 2.4% to $1,108,780 from $1,083,150.
  • Home sales down by 24.6% to 52 from 69.
  • Active listings increased 12.5% to 81 from 72.
  • Sales price vs. list price ratio dropped by 0.5% to 105.8% from 106.3%.
  • The average days on market increased by 47.8% to 13 from 9.

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.

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

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.

And for comparison, here’s the chart from April:

This month shows slowly increasing inventory with increasing sales with a slightly decreasing MOI. The overall 1.333 MOI is a hot sellers market leading an active Spring season towards a hot Summer. By comparing across school districts you can see how different each area’s individual market can be. The overall MOI for different schools this month ranges from 0.417 to 2.235. Small levels of inventory can create big data swings and can make for less accurate charts. Nonetheless, we can still spot market trends if we know where to look.

 

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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 month, for instance, there were only two homes 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 million, and often higher in the current market – a little steep for most folks! With only 2 sold and 5 pending in May, the data won’t always be the most accurate. 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 one month, and to compare with similar, nearby markets like Los Gatos.

And a look at the data from last 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

Severe inventory shortage

Why is it so hard to buy a home in Silicon Valley?  Most of it has to do with our ongoing and severe inventory shortage.

I initially wrote the article below on Feb 9, 2012.  I thought it was bad then – and I suppose that relatively speaking, it was. But it’s much worse now!

Today is May 1, 2017, and I ran the numbers of available single family homes in Santa Clara County in a chart comparing since January of 2012.  Have a look, and please note the year over year numbers:

2017-05-01 Santa Clara County Inventory of Single Family Homes

The situation has only intensified since I first wrote this article in early 2012.  There are many reasons for the problem: older people won’t sell for tax reasons (mostly capital gains). move up buyers who elect to stay and add on rather than deal with hugely increased property taxes.  In general, home owners are opting to “buy and hold”.

Is it hard to buy a house in the San Jose area? You bet.  And unfortunately, I don’t see an end in sight anytime soon.

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Original article: Feb 9, 2012

Right now I’m working with a number of very frustrated home buyers.  Silicon Valley real estate inventory is painfully low, and in the lower price ranges especially, that means multiple offers are fairly common.  FHA home buyers, in particular, are getting out bid and out negotiated by all cash buyers, many of whom are investors.

How low is the inventory?  Let’s have a look at January’s inventory for houses & duet homes (“class 1” or single family homes) over the last ten years in Santa Clara County (San Jose, Los Gatos, Campbell, etc.):

2012  1,382
2011  2,007
2010  2,426
2009  4,759
2008  4,872
2007  2,698
2006  2,202
2005  1,285
2004  1,612
2003  3,119

The average January inventory of available houses over the last 10 years is 2,636.  At 1,382, January 2012’s available inventory of houses for sale in the San Jose area was just 52% of normalContinue reading

Today consumers have a lot of choices as to where to search for properties for sale in Silicon Valley (the South Bay area, Santa Clara County, San Jose, Los Gatos, Almaden etc.).  But not all “find a home” sites are equally accurate.  Some websites display listings that are sale pending, sold & closed or even withdrawn.

The very best, most accurate and most often updated site is the public branch of our agent-supported Multiple Listing Service or MLS, which is MLSListings.com.  You can find it at www.MLSListings.com. (If sending your own agent info a house, it is helpful if you provide both the street address and the MLS #.  By the way, the first few digits of the number imply the year that the listing was put into the system.  811 = 2011.  810 = 2010.)

Why is MLSListings.com the best source for finding Silicon Valley homes for sale?

It is updated constantly.  Within a few minutes of whenever a real estate agent or broker changes the listing status, comments, photos, showing instructions, open house information,etc., the new information is displayed on MLSListings.  While it’s not instantaneous, most changes appear within 5-10 minutes (photos being the slowest to load).

MLSListings is syndicated out to some other sites, but some don’t update often (or at all).  Other sites rely upon the listing agent to go to that one site and update the status.  Realtors and other licensees get busy and this task may slip through the cracks, making you believe that a home is available when it’s not. MLSListings.com is the source.

You don’t have to register. Some of the portals that you might consider visiting to view the MLS info may not include the virtual tour or all pics – or might show them to you only if you register.  You do not need to register to view houses, condos, townhouses, multi units etc. on MLSListings.com. Continue reading

It’s possible to live in Silicon Valley and have no idea that there are still some original adobe houses to be found right here in the San Jose area. Today, though, I hope to help some of our residents discover the past which is lurking right in front of us!

The historic Adobe Woman’s Club is just a block or two off the campus of Santa Clara University, tucked away on a side street now that The Alameda is re-routed as The El Camino.  Address: 3260 The Alameda, Santa Clara.  According to the state’s historical preservation site, this state landmark # 249 is one of the oldest in the Santa Clara Valley, was built between 1792 and 1800 and was one of many row houses built for the native Americans who worked at Mission Santa Clara.  Please note that this is private property and you may not enter without permission, but the adobe abode is very visible from the sidewalk.

Today the beautifully preserved adobe house functions as a nonprofit group with these objectives: “to promote educational, moral, social welfare, cultural, civic and community service.  Anyone who supports these objectives is welcome.”  This scenic place can also be rented out for private events.  The garden is quite lovely and the interior appears to be very modern.  You can see photos of the inside of the house at the club’s website: The Santa Clara Woman’s Club.

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Damaged wood sidingWood siding is extremely common in the San Jose area and Silicon Valley as a whole, both on condominiums & townhouses and also on houses.  (We do not see a lot of vinyl siding here, as we might in other parts of the country.) Water is the #1 enemy of houses – even more than termites!  It is necessary to control water intruding into the wood, because if it gets in, fungus and rot can get a start on your home.

How do you prevent  water damage, fungus, and dry rot on wood siding?

Exterior wood needs to be painted about every five years or it can crack, peel, and otherwise allow moisture intrusion. If the wood is kept sealed, it can do very well against water. Another big cause of expensive wood repairs outdoors is earth to wood contact.  If you have ever built a fence, or had one made for you, you’ve probably seen that the best practice is to put the wooden posts into concrete rather than directly into the dirt.  The reason is simple: soil gets damp and the wood will wick up the moisture, whether it’s fence boards, posts, part of a wooden deck, or the siding on your home.  If the siding or other wood comes near the soil, the recommendation is to separate them one way or the other. In the photo I’ve included with this article, the siding of this townhome complex was allowed to touch the earth.  You can see the results: expensive repairs needed! The old saying goes that “an ounce of prevention is worth a pound of curse”.  It’s especially true with caring for wood siding and other times of wood on the outside of your home or in your yard.   If you can remember to do a walk-around every few months, at least twice a year, you are more likely to find the beginnings of issues before they become thousands of dollars.  Keep a schedule for painting and make sure you do it before it looks like it’s needed.  If you wait until there’s chipping and cracking, you may already have trouble!  Watch for earth to wood contact, and rake away the soil or take other measures to protect your siding. This is true for owners of townhomes too.  It seems like decades ago, home owner associations were often responsible for siding, but in the last few years I’ve been finding more and more HOAs make that the owner’s responsibility, even if the HOA is in charge of the painting schedule.    Make sure that you have a look at your siding regularly so that you can stop fungus and dry rot in their tracks and prevent a small headache from becoming extremely costly. Finally, it’s a good idea to have a pest inspection (termite inspection) every 3 to 5 years to nip any issues in the bud. Related reading: What Is Cellulose Debris (in a pest or termite report)?

  1. 5 beds, 6 baths
    Home size: 5,448 sq ft
    Lot size: 21,522 sqft
  2. 4 beds, 2 baths
    Home size: 1,796 sq ft
    Lot size: 14,618 sqft
  3. 5 beds, 4 baths
    Home size: 3,120 sq ft
    Lot size: 10,659 sqft
  4. 5 beds, 4 baths
    Home size: 3,028 sq ft
    Lot size: 14,043 sqft
  5. 4 beds, 3 baths
    Home size: 3,359 sq ft
    Lot size: 14,000 sqft
  6. 4 beds, 3 baths
    Home size: 2,219 sq ft
    Lot size: 3,384 sqft
  7. 4 beds, 2 baths
    Home size: 1,967 sq ft
    Lot size: 5,998 sqft
  8. 4 beds, 3 baths
    Home size: 2,035 sq ft
    Lot size: 3,240 sqft
  9. 4 beds, 2 baths
    Home size: 1,796 sq ft
    Lot size: 8,049 sqft
  10. 3 beds, 3 baths
    Home size: 2,199 sq ft
    Lot size: 5,880 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 6/22/2017)

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

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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
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