market

The real estate market in San Jose’s Santa Teresa area

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.  Right now it’s showing a somewhat stressed market with the most recent numbers being down both month over month and also year over year – not typical for Santa Clara County as a whole.

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

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

 Also, please note that zip codes don’t always relate to the districts.  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 (boring grunt work but not actually difficult).
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 600 thousands to the mid 700 thousands over the last year.  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.

 

  1. 3 beds, 2 full baths
    Home size: 1,506 sq ft
    Lot size: 6,969 sqft
  2. 4 beds, 2 full baths
    Home size: 1,409 sq ft
    Lot size: 6,000 sqft
  3. 4 beds, 2 full baths
    Home size: 1,308 sq ft
    Lot size: 9,801 sqft
  4. 4 beds, 2 full baths
    Home size: 1,355 sq ft
    Lot size: 4,530 sqft
  5. 2 beds, 2 full baths
    Home size: 850 sq ft
    Lot size: 1,219 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 8/2/2015)

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

 

Sunnyvale real estate market trends & statistics

Sunnyvale has been an extremely hot seller’s market for many months.   In general, houses in Sunnyvale are selling for about a million four 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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Los Gatos Real Estate Market Trends and Statistics

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).

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. Continue reading

Saratoga, CA, Real Estate Market Update

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, townhomes, and condos, 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.  The 1.8 months of inventory looks like a very hot market, especially since last month, but comparing across school districts you can see that this might be a bit skewed. Some areas are heating up slightly in their sellers market since last month, while others have slowed down considerably, and the small number of sales makes the average swing drastically.

MOI1b

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

1b

 

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Morgan Hill real estate market

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 rising year over year, and heating up after some seasonal cooling last month, in this “south county” town. The sale price to list price ratio has been hovering between 98% and 100% for months, and jumped up to 102% recently.  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 generally lower here, though still a sellers market, 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.

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Mountain View CA real estate market trends and statistics

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.

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
 Here are the statistics for sales in the last two months. You can see that homes have been flying off the market in under two weeks and the inventory is fairly low. Prices are up substantially year-over-year and homes are selling for well over list price, making this a very difficult market for buyers.
Mountain View Citywide Stats At A Glance as of July 20, 2015:

Year-Over-Year

  • Median home prices increased by 40.2% year-over-year to $1,900,000 from $1,355,500.
  • The average home sales price rose by 37.8% year-over-year to $1,961,550 from $1,422,980.
  • Home sales rose by 11.5% year-over-year to 29 from 26.
  • Active listings fell 5.3% year-over-year to 36 from 38.
  • Sales price vs. list price ratio rose by 6.1% year-over-year to 116.2% from 109.5%.
  • The average days on market fell by 9.8% year-over-year to 12 from 13.

Compared To Last Month

  • Median home prices improved by 2.2% to $1,900,000 from $1,860,000.
  • The average home sales price fell by 0.5% to $1,961,550 from $1,971,600.
  • Home sales up by 7.4% to 29 from 27.
  • Active listings dropped 16.3% to 36 from 43.
  • Sales price vs. list price ratio dropped by 0.2% to 116.2% from 116.4%.
  • The average days on market increased by 36.4% to 12 from 9.

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.

Continue reading

The Cambrian Park Real Estate Market Update

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. Both month to month and year-over year stats tells us sales are up.  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!

The Cambrian Real Estate Report for single family homes  Year-Over-Year For June 2015 Sales

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.

 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

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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


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