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Mary Pope-Handy
Realtor
CRS, ABR, E-Pro, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Road
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
CA DRE License
# 01153805

Posts Tagged ‘real estate market’

The Willow Glen Real Estate Market Trends and Statistics

Wednesday, October 28th, 2009

Willow Glen (San Jose) Median Market Action IndexWillow Glen is an interesting, varied, historic, scenic and upscale part of Silicon Valley.  It is convenient to downtown San Jose but has its own distinct history; even though it’s been part of the city of San Jose for nearly 75 years, ask a Willow Glen resident where he or she lives and the answer will be “Willow Glen”, not San Jose.

 I’ll use Altos Research for my source (a subscription I have & have the right to reproduce images etc here). Since 95% of Willow Glen is composed of 95125 zip code, that’s what we’ll use. The graphs below are dynamic so although I’m posting this in fall of 2009, the charts should be accurate in the future too. NB, Altos uses list prices. 

List prices for San Jose, 95125 over the last 12 months by price quartile:

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

Average days on market for San Jose, 95125 over the last 12 months by price quartile:

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Monte Sereno: How’s the Market?

Friday, June 26th, 2009

The Monte Sereno real estate market tends to be a good indicator of the high end market throughout Siicon Valley or Santa Clara County. While it may not be exactly the same in Los Altos, Los Altos Hills, Almaden or Saratoga/Los Gatos, it’s often very similar.

Homes at the high end of the price range have taken a beating in the downturn, as would-be buyers - mostly “move up” home buyers - haven’t got enough equity to purchase the next home.  Many are running into problems getting financing too. So without a large amount of money to put down, it’s very difficult for even willing buyers to make the purchase.

Prices have been dropping in Monte Sereno, as they have been dropping everywhere in the San Jose area.  Although we aren’t seeing the deep discounting here that we see in Alum Rock (where most of the houses bought are distressed properties, either short sales or bank owned homes), the rollback in pricing is still painful for home sellers, especially if they were counting on that money for retirement.

Let’s first look at the recent historical data on list prices in Monte Sereno (graphs courtesy of Altos Research, with which I have a subscription). First here’s a view of the median list price of all houses offered for sale in Monte Sereno in recent years:

Monte Sereno List Prices Recent Years
Now, the asking prices in Monte Sereno in recent years broken out by quartile (each segment is 25% of the inventory):

Monte Sereno list prices recent years by quartile

The highest priced homes have shown the most volatility, as you can see by the swings in the top line.  That could be a statistical abberation since each quartile represents very, very few homes.
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It’s Not Your Imagination: There are Fewer Homes to Choose from in Silicon Valley

Tuesday, June 16th, 2009

The tide is turning for Silicon Valley real estate: fewer listings are coming onto the market and more homes are being purchased by homebuyers anxious to get into a house before interest rates rise and the $8000 first time homebuyer’s credit expires.

The shift is most visible in areas with the most affordability, but even is more upscale, higher priced areas, it’s still a noticeable change.

Today I’ll share with you a series of graphs, by area, of single family homes in terms of new listings, current inventory, and pending sales (sales under contract).  These were created using our mls system (information deemed reliable but not guaranteed).

Here’s the “key” (since if I put it alongside each image it would not fit without making all of it unreadable):

color key

Description of each graph is ABOVE the image.

Almaden Valley (95120 area of San Jose) - this is a more expensive part of Santa Clara County, but the market improvement is very clear. Cool market.

Almaden Valley San Jose pending home sales trends

Blossom Valley (95123 and 95136 zip codes, an area of San Jose) - this is a very affordable part of Silicon Valley and has taken a huge hit on the “price rollback”.  But it’s getting better now - note the rise in sales, low number of new homes coming on the market and overall lessening of inventory. Number of pendings is almost the same as the total inventory. Hot market.

Blossom Valley area of San Jose real estate pending trends

Cambrian Park (95124 & 95118 area of San Jose) - trends among listings, inventory, and sales for single family homes. The trend of less inventory and more sales is quite evident. Warm market overall - very hot under $500,000, cool in higher price ranges. (But hot only if prices are deeply reduced.)

Cambrian Park pending sale and inventory trends

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San Jose is a Seller’s Market in Many Areas Now!

Monday, May 11th, 2009

We may be in a recession with 11% local unemployment, but affordable homes are getting scooped up with multiple offers and in many areas, inventory is shrinking.

Today we’ll look at five areas of San Jose which offer at least some, if not mostly, entry level housing: Blossom Valley, Cambrian Park, Evergreen, Santa Teresa and South San Jose.

Evergreen does have some high-end housing in Silver Creek and elsewhere, but it also provides some very affordable homes for first time home buyers.  Cambrian Park is mostly middle class but it, too, has some McMansions (original Cambrian Park tract with large lots and very old homes that are not infrequently bulldozed) and some homes with views (Vista Loop area, bordering Los Gatos and Almaden Valley).  Blossom Valley has some beautiful properties and many close to thecenics Santa Teresa Foothills.  Overall, though, these homes represent affordable or mid-range houses for sale in Silicon Valley.  When we look at them as a group, it gives a strong sense of what the market is doing generally.

The months of inventory reflect how long it would take the current inventory to be absorbed (or sold off) if no new inventory came on the market and sales continued at the current pace.  Six months is a balanced market.  Fewer represents a seller’s market and more reflects a buyer’s market.  As you can see, April shows a push in all five districts of San Jose into seller’s territory:

2009-five-san-jose-areas-absorption-rate

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