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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
:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park and
Santa Clara County

Posts Tagged ‘market’

Los Gatos Real Estate Market Trends and Statistics

Friday, December 12th, 2014

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 11-21-2014:  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

 

 
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…)

The Cambrian Park Real Estate Market Update

Monday, December 8th, 2014

My 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 Cambrian, 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 13.5% year-over-year to $851,000 from $750,000.
  • The average home sales price rose by 12.2% year-over-year to $877,448 from $782,008.
  • Home sales rose by 33.3% year-over-year to 84 from 63.
  • Active listings fell 39.3% year-over-year to 71 from 117.
  • Sales price vs. list price ratio fell by 0.0% year-over-year to 103.5% from 103.5%.
  • The average days on market fell by 20% year-over-year to 19 from 23.

Compared To Last Month

  • Median home prices improved by 1.9% to $851,000 from $835,000.
  • The average home sales price rose by 1.8% to $877,448 from $862,175.
  • Home sales up by 50.0% to 84 from 56.
  • Active listings dropped 39.3% to 71 from 117.
  • Sales price vs. list price ratio increased by 0.5% to 103.5% from 103.0%.
  • The average days on market dropped by 12.8% to 19 from 21.
The year over year median and average sales prices in Cambrian are up a healthy amount.  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

Saratoga, CA, Real Estate Market Update

Monday, December 1st, 2014

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.

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. In fact, it’s less than 2 months until you go past $2.5million. Wow!

Saratoga all prices and schools

 

And next – Saratoga with Saratoga Schools – even faster!!!!!

Saratoga with Saratoga schools

(more…)

Santa Clara County Real Estate Market

Tuesday, November 18th, 2014

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 

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

Prices are up both month over month and year over year, and home sales are up a little too – some welcome relief for inventory starved home buyers!

Trends at a Glance

Santa Clara County Stats At A Glance for sales closed in October 2014

Year-Over-Year

  • Median home prices increased by 12.9% year-over-year to $869,610 from $770,000.
  • The average home sales price rose by 14.1% year-over-year to $1,147,830 from $1,006,280.
  • Home sales fell by 2.1% year-over-year to 950 from 970.
  • Active listings fell 34.7% year-over-year to 1,675 from 2,566.
  • Sales price vs. list price ratio rose by 0.3% year-over-year to 103.0% from 102.7%.
  • The average days on market rose by 1.3% year-over-year to 28 from 28.

Compared To Last Month

  • Median home prices improved by 2.3% to $869,610 from $850,000.
  • The average home sales price rose by 4.0% to $1,147,830 from $1,104,120.
  • Home sales Up by 4.3% to 950 from 911.
  • Active listings dropped 23.2% to 1,675 from 2,180.
  • Sales price vs. list price ratio dropped by 0.4% to 103.0% from 103.4%.
  • The average days on market increased by 2.3% to 28 from 27.

(more…)

The Monte Sereno Real Estate Market

Sunday, November 16th, 2014

How 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.  Additionally, some of the properties carry hefty price tags, so reductions in those can really fiddle with the stats overall. Finally, while nearly all Monte Sereno properties are within the boundaries of the Los Gatos Union School District and the Los Gatos – Saratoga Joint Union High School District, a small handful has Campbell schools with the Campbell Union High School District.  Homes in the latter area will sell for a bit less, so sales there will pull the average and median sales price down a little and not give an accurate impression for most of the city’s real estate market.

 

 

Closed sales in Monte Sereno in May: prices down from previous month but up from last year

Here are the quick statistics for the closed sales in the last complete month to give a sense of how things are going. 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?   (more…)

Sunnyvale real estate market trends & statistics

Monday, November 10th, 2014

Sunnyvale has been an extremely hot seller’s market for many months. Prices are cooling a little from last month, but homes continue to sell in less than 30 days and the sale price to list price ratio remains at more than 105%.  In general, houses in Sunnyvale are selling for about a million 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.)

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?

(more…)

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.