Real estate

Morgan Hill land along the Uvas RiverHow’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 in this “south county” town, prices are mostly consistent year over year and month over month. The sale price to list price ratio has been hovering mostly between 98% and 100% for months. 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 these big businesses. So while most of the Silicon Valley has a sale price to list price ratio of anywhere from 100% to 110%, it’s generally lower here, making the home buying conditions calmer for weary buyers, though still a sellers market. 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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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.

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The Sunnyvale real estate market has been trending upward for many months until recently, when we’ve been seeing a flattening of the Silicon Valley real estate market overall. 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.)

Sunnyvale real estate market: 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 Sunnyvale real estate market report):

Trends at a Glance APR 2017 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price +5.0% $1,709,000 $1,627,000 +11.9% $1,527,000
Average Sales Price +4.4% $1,698,230 $1,626,270 +15.0% $1,476,550
No. of Homes Sold +26.3% 48 38 -21.3% 61
Pending Properties +18.6% 70 59 +11.1% 63
Foreclosures Sold N/A 0 0 N/A 0
Short Sales Sold N/A 0 0 N/A 0
Active Listings -3.7% 26 27 -27.8% 36
Active Foreclosures N/A 0 0 N/A 0
Active Short Sales N/A 0 0 N/A 0
Sales Price vs. List Price -0.3% 111.8% 112.1% +1.9% 109.7%
Average Days on Market -14.2% 10 11 -11.2% 11

What about the Sunnyvale condo and townhome market?

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How’s the Cupertino real estate market?

Cupertino - view from Ridge Vineyards

Cupertino – view from Ridge Vineyards

The real estate market in Silicon Valley can sometimes be a little quirky, so I like to approach this question from a few angles. In this article I’ll make use of  my charts from Altos Research, which uses listing data (not solds) and is automatically updated every week and also monthly reports from my RE Report subscription. Also I’ll periodically update it with info from the MLS that I have crunched myself or anecdotal stories from those of us “in the trenches.” The article is a bit long but I think much more comprehensive giving the multiple methods of answering the question of how the Cupertino real estate market is faring.

Cupertino median list price of houses by price quartile

Often the real estate market in any given city is very different between the most expensive homes and the most affordable ones. While many Cupertino home buyers are looking for a short commute, great public schools or strong resale value, some seek a luxury property with a view in the Cupertino hills (either off of Montevina Road by Ridge Vineyards or in other lower foothills).
Real Estate Market Chart by Altos Research www.altosresearch.com

The last few months have had some ups and downs in pricing, but most segments of the Cupertino real estate market have seen an overall uptick since last year. The luxury market in Cupertino had some calming over summer, but is back on the rise again. What if we look back more than a year? Combining the quartiles, it seems that there’s been more up than down.

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

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The Blossom Valley area of San Jose is on the south end of the city and covers the 95123 and 95136 zip codes. For our MLS, it’s “area 12.” A more affordable section of Silicon Valley, Blossom Valley has much to offer in addition to more reasonable housing prices. Many areas enjoy views of the Santa Teresa Foothills or the Communications Hill knolls or even the coastal foothills in the distance, as with the photo below. One corner of it sits alongside beautiful Almaden Lake, too. One corner is located at the crossroads of Highways 85 and 87, making it an easy commute destination for those working in downtown San Jose. And there’s an abundance of shopping opportunities.

Blossom Valley from the Church on the Hill

Much more could be written, but let’s now instead turn to the real estate market there.

First, “live,” automatically updating Altos Charts for San Jose 95123 and 95136 and single family homes (houses and duet homes). These use list prices, not sales prices.

The median list price of both 95123 and 95136, all prices, single family homes (houses and duet homes, if there are any).

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

Next, the median list price for just the San Jose 95123 area of Blossom Valley, and separated by price quartile:

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

And next, the median list price of just San Jose 95136 by price quartile:

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Almaden Valley homes for sale and real estate market conditionsThe Almaden Valley real estate market is still in a stable sellers market. Winter brought about a steep drop in inventory. There must be either a lot more inventory, or significantly less demand, before we see anything close to a balanced market. The Almaden Valley market is noticing minor softening, with homes selling, on average, a over list price at 104.8%. That being said, turnover has sped up to an average of 12 days on market (or DOM). This tells us there’s a slight heating trend in the current market. Almaden Valley is in a sustained, hot sellers market.

Please find the current statistics for single family homes (houses & duet homes) from my Almaden Valley real estate report (click on link for more info):

Almaden Valley San Jose 95120 Real Estate Statistics At A Glance

Year-Over-Year

  • Median home prices increased by 13.6% year-over-year to $1,426,250 from $1,255,000.
  • The average home sales price rose by 10.1% year-over-year to $1,456,860 from $1,323,760.
  • Home sales rose by 44.0% year-over-year to 36 from 25.
  • Active listings fell 26% year-over-year to 71 from 96.
  • Sales price vs. list price ratio rose by 1.3% year-over-year to 104.8% from 103.4%.
  • The average days on market fell by 57.8% year-over-year to 12 from 29.

Compared To Last Month

  • Median home prices slipped by 0.7% to $1,426,250 from $1,436,000.
  • The average home sales price fell by 2.1% to $1,456,860 from $1,487,530.
  • Home sales down by 0.0% to 36 from 36.
  • Active listings increased 6.0% to 71 from 67.
  • Sales price vs. list price ratio increased by 0.9% to 104.8% from 103.9%.
  • The average days on market dropped by 13.9% to 12 from 14.

The data shows a strong sellers market remaining fairly consistent despite increasing inventory. The best homes will still see multiple offers, a response to low inventory and high demand.

Altos Research charts for houses in Almaden (San Jose 95120)

Please note that Altos Research uses list prices of Almaden Valley homes for sale, not sold prices.

An overview:

90-day stats for Single Family properties in
SAN JOSE, CA 95120 as of June 16, 2017
Median List Price:$1,546,652Average List Price:$1,941,405
Total Inventory:27Price per Square Foot:$601
Average Home Size:2,659Median Lot Size:8,969
Average # Beds:4.41Average # Baths:3.31
Homes Absorbed:9Newly Listed:9
Days on Market:37Average Age:37

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

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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

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

Leo or Leona - the mascot of Los GatosThe Los Gatos real estate market is varied from one price point or school district to the next, but over all, this is a fairly stable period with some slight warming over the last couple of months. Here are the current numbers, per my Los Gatos real estate report (click on the link for full information). The Los Gatos Mountains are a distinctly different market and as such are covered in a separate market update, updated less frequently than here, but with live Altos charts for that area.

Los Gatos / Monte Sereno housing values and pricing trends (aka “area 16” for our MLS, zip codes 95030 and 95032)

Los Gatos/Monte Sereno Real Estate Stats At A Glance

Year-Over-Year

  • Median home prices fell by 0.0% year-over-year to $1,950,000 from $1,950,000.
  • The average home sales price rose by 3.0% year-over-year to $2,128,200 from $2,065,370.
  • Home sales rose by 6.9% year-over-year to 31 from 29.
  • Active listings rose 19.6% year-over-year to 116 from 97.
  • Sales price vs. list price ratio rose by 0.4% year-over-year to 101.8% from 101.5%.
  • The average days on market fell by 8.4% year-over-year to 26 from 28.

Compared To Last Month

  • Median home prices slipped by 7.1% to $1,950,000 from $2,100,000.
  • The average home sales price fell by 5.2% to $2,128,200 from $2,244,650.
  • Home sales up by 34.8% to 31 from 23.
  • Active listings increased 27.5% to 116 from 91.
  • Sales price vs. list price ratio dropped by 3.1% to 101.8% from 105.2%.
  • The average days on market dropped by 34.5% to 26 from 40.

Do you love Los Gatos, live there now or want to live there? Please also visit the Live in Los Gatos Blog!

Learn about Los Gatos neighborhoods, see photos, videos, pricing information, age of homes and much more! Get frequent Los Gatos real estate market updates, find out about local events, business, see images of the parks, historic buildings, and get to know Los Gatos even better. “Live in Los Gatos” is an award winning blog, also written by local Los Gatos Realtor and resident Mary Pope-Handy – check it out today!

Live in Los Gatos Blog

Please continue reading for info on the Los Gatos condo market, and for real estate market information on Monte Sereno. Continue reading
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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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Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


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