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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.

Posts Tagged ‘market’

Morgan Hill real estate market

Monday, January 19th, 2015

How’s the real estate market in Morgan Hill?  This article will include data, trends and statistics for both houses and condominiums / townhouses.

For the single family home segment, prices are up strongly both month over month and year over year in this “south county” town. The sale price to list price ratio is down a bit.  The cities of Morgan Hill and Gilroy are usually a bit less in demand than parts of Santa Clara County which are either tech magnets or closer to them, so while most of the Silicon Valley has a sale price to list price ratio of over 100%, it’s below that here, making the home buying conditions much calmer for weary buyers.  Below is a chart with basic info, but to see more information, you may click on this link to see the Real Estate Report for Morgan Hill.

 

Live charts from Altos Research

The following charts are from Altos Research, updated automatically each week, using data of homes available to purchase (not sold / closed sales), for the Morgan Hill real estate market. (I have a paid subscription to this service.)

Morgan Hill homes listed for sale by price quartile

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

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Saratoga, CA, Real Estate Market Update

Monday, January 12th, 2015

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 then the numbers I crunched for Saratoga – overall, and then by price point and high school district, as 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. (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.)  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”.

Here’s the chart for Saratoga – all price points, all school districts.  Overall it’s 2 months of inventory, which is crazy fast.

1SA

 

 

 

 

 

 

 

 

 

 

 

 

And for comparison here’s last month’s chart, which was also a strong seller’s market in the lower price ranges.

Saratoga all prices and schools 

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Los Gatos Real Estate Market Trends and Statistics

Thursday, January 8th, 2015

The Los Gatos real estate market is varied from one price point or school district to the next, but over all, this is a stable period with some appreciation and in many cases, a warm seller’s market (as the sale price to list price ratio indicates). Most of the price gains happened last spring rather than in the last month or two.  Here are the current numbers, per my Los Gatos real estate report (click on the link for full information).

Added Jan 13, 2015:  Please also see this new article on my Live in Los Gatos blog with custom data that I crunched from MLSListings:
Los Gatos real estate market trends by price point and high school district

Los Gatos / Monte Sereno area (aka “area 16″ for our MLS)

 
Please continue reading for info on the LG condo market, and for real estate market information for Monte Sereno and the Los Gatos Mountains too. (more…)

Mountain View CA real estate market trends and statistics

Tuesday, January 6th, 2015

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 who take the plunge and buy: it doesn’t look like Mountain View is going to lose its appeal anytime soon. That said, the December numbers show only modest gain from a year ago and actually a pulling back from November 2014, which is good news for buyers.

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:

 Mountain View real estate sales and prices Jan 7 2015
Mountain View Citywide Stats At A Glance as of January 7, 2015:

Year-Over-Year

  • Median home prices increased by 2.4% year-over-year to $1,507,250 from $1,472,500.
  • The average home sales price rose by 11.1% year-over-year to $1,596,250 from $1,436,950.
  • Home sales fell by 50% year-over-year to 10 from 20.
  • Active listings fell 35.7% year-over-year to 9 from 14.
  • Sales price vs. list price ratio rose by 5.0% year-over-year to 109.8% from 104.5%.
  • The average days on market fell by 42% year-over-year to 18 from 30.

Compared To Last Month

  • Median home prices slipped by 2.2% to $1,507,250 from $1,541,000.
  • The average home sales price fell by 1.6% to $1,596,250 from $1,622,770.
  • Home sales down by 41.2% to 10 from 17.
  • Active listings dropped 43.8% to 9 from 16.
  • Sales price vs. list price ratio dropped by 2.2% to 109.8% from 112.3%.
  • The average days on market increased by 55.1% to 18 from 11.

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 amost 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.

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The Cambrian Park Real Estate Market Update

Monday, January 5th, 2015

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 are experiencing dreadfully low inventory of homes for sale.  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.   Sales are up and inventory is down.  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.

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 Stats At A Glance

Year-Over-Year

  • Median home prices increased by 12.0% year-over-year to $843,000 from $753,000.
  • The average home sales price rose by 16.3% year-over-year to $878,878 from $755,478.
  • Home sales fell by 16.9% year-over-year to 49 from 59.
  • Active listings fell 47.3% year-over-year to 29 from 55.
  • Sales price vs. list price ratio rose by 2.0% year-over-year to 105.4% from 103.3%.
  • The average days on market fell by 21.4% year-over-year to 22 from 28.

Compared To Last Month

  • Median home prices slipped by 1.4% to $843,000 from $855,000.
  • The average home sales price fell by 2.4% to $878,878 from $900,357.
  • Home sales up by 14.0% to 49 from 43.
  • Active listings dropped 35.6% to 29 from 45.
  • Sales price vs. list price ratio dropped by 0.2% to 105.4% from 105.6%.
  • The average days on market increased by 17.3% to 22 from 19.
The year over year median and average sales prices in Cambrian are up a healthy amount, if down a fraction from last month.  Generally speaking it is still a hot seller’s market and great time to sell a Cambrian home.  We were expecting a breather, but aren’t getting it – particularly in the areas with Union and Cambrian Schools.

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

Sunnyvale real estate market trends & statistics

Thursday, January 1st, 2015

Sunnyvale has been an extremely hot seller’s market for many months.   In general, houses in Sunnyvale are selling for about a million two 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.)

Altos Research, median list prices by quartile

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

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 report):

What about the condo and townhome market?

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Is the Silicon Valley real estate market cooling down?

Wednesday, October 22nd, 2014

Over the last few days, Realtors from around Silicon Valley keep asking me, “Do you see a change in the market?”  I’ve heard it several times.  The answer is yes.  But then again, it’s late October.  This is seasonally normal!

We have become so used to the hyper inflated market of the last 2 years that the smallest moderation of that market seems to make people nervous.  But what is seasonally typical?  Usually we see a big runup in the first half of the year, followed by either a leveling off or even a lowering of values in the late part of the year.  That’s the pattern that we see most often.

Realtors like to say that you can buy or sell any time of the year in the San Jose area – and it’s true.  We don’t have the weather that they have in places like Buffalo to keep us indoors for 1/3 of the year!  Even so, spring is hotter than fall.  There are advantages to selling late in the year to be sure: for one, usually there’s less inventory (competition) so the odds of selling and closing are better. But in terms of pricing, spring is usually king.

Just not always.

Back to now: real estate agents in the San Jose area and the Peninsula are reporting smaller numbers of offers on properties and lower overbids.  Homes selling over list price are still the norm in many areas, but where there used to be 10% overbids, perhaps there are 5% overbids.   This is the general trend.

In some areas, and some price points, we continue to see enormous overbids in the 10% region, even while the area generally is averaging smaller ratios.  The homes most likely to outperform the market are those which are super clean, remodeled, worry free, and on the lower end of pricing for the best schools or commute location.  While everything else shows cooling, these homes do not. At least not yet.