san jose

Willow Glen real estate market is a strong seller's market. This Willow Glen sign is from the downtown business district.Willow Glen is perhaps the most charming residential area of the city of San Jose with its old style architecture, tree lined streets and quaint downtown area on Lincoln Avenue and nearby. For folks working in downtown San Jose, the Willow Glen area (roughly the same as 95125 zip code, though a bit of 95124 is included also) is extremely convenient. Inventory has fallen slightly since last year, but sales are remaining consistent. Properties continually sell regularly over list price quickly, in under a month. The Willow Glen real estate market remains very much a sellers market.

Click for the complete Willow Glen real estate report with all of the numbers, stats and trends from the closed sales of houses for last month. Further down in this article you’ll find the Altos Research charts as well.

Things are similar to last month. Willow Glen is still a hot, persistent sellers market that’s slightly more competitive than a year ago.

And next, of Willow Glen condos:

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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 upwards of two years in 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. Cambrian neighborhoods can be located at the menu bar: Neighborhoods –> San Jose (all areas) –> Cambrian Park (SJ).

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!

 

And the chart from last month:

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.
Other related Cambrian district resources:
Learn about the Cambrian months of inventory, or absorption rate, by elementary school district.

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

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, and this past summer failed to bring enough new listings to fulfill demand, leaving a heavy demand burdening the market. 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 warming, with homes selling, on average, above list price at 107.3%. Turnover has slowed slightly to an average of 10 days on market (or DOM). This tells us that while there may be minor fluctuation month-to-month, 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

The data shows a strong sellers market remaining fairly consistent despite lower inventory over the winter. The best homes will 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 May 18, 2018
Median List Price:$1,744,613Average List Price:$2,002,742
Total Inventory:27Price per Square Foot:$663
Average Home Size:2,625Median Lot Size:9,875
Average # Beds:4.24Average # Baths:3.47
Homes Absorbed:9Newly Listed:10
Days on Market:21Average Age:37

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

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VintageHomeTour2018 - Historic Naglee Park Home Tour in San Jose

The historic Naglee Park Home Tour in San Jose will take place on Saturday April 21, 2018 from 10am to 4pm. Sponsored by the San Jose Woman’s Club, this is the seventh year of the annual tour. This year, proceeds go towards the renovation of the Women’s Club 1929 Spanish Revival Clubhouse.

Tours include access to seven homes along two adjacent blocks in Naglee Park, and shows off both their lovely living quarters and gardens. Visitors have the option of pre-ordering a lunch box, and wine and refreshments will be available at the Refreshment Garden. The tour also features a lecture and open-air market.

The SJWC does not have any information on their website as of yet, however the Eventbrite page, where you can purchase tickets, has details, as does the Facebook Event Page.

For tickets and information: https://www.eventbrite.com/e/sjwc-naglee-park-vintage-home-tour-tickets-42695715033

 

Historic Naglee Park Home Tour in San Jose was on the same date, April 21, back in 2012 for the 3rd annual tour.

Historic Naglee Park Home Tour in San Jose was on the same date, April 21, back in 2012 for the 3rd annual tour.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

 

The Los Alamitos Creek Trail runs alongside a few Almaden Valley neighborhoods, including Shadowbrook and Woodside of Almaden - photo by Jim Handy December 2017

Thinking of moving to the much beloved Almaden Valley area of San Jose? Almaden Valley neighborhoods vary in size, schools, and area amenities from one to the next, so reading up on the smaller communities that make up this scenic district will help you to locate just the right area for you!

Why Almaden Valley neighborhoods?

For many home buyers, the choice to move to an Almaden Valley neighborhood is largely about the quality of the public schools and the amount of home that can be purchased relative to other areas with good schools such as Cupertino, Saratoga, and Los Gatos. Some may want Leland, others Pioneer, Leigh, or Los Gatos High (a tiny sliver of San Jose 95120 is in the LGHS attendance area).

For others, it may be about the commute, which is not too bad to downtown San Jose.

Almaden is slightly younger than many parts of San Jose, such as Cambrian (and much younger than Willow Glen). The newness of construction can be very enticing to home buyers not wanting to deal with older home issues.

For those wanting scenic views, rather than flat areas away from hills, this part of San Jose offers abundant opportunities of the hills, from the hills, or perhaps across a golf course. Almaden can feel a little less urban, a little less crowded, because of these scenic vistas.

List of Almaden Valley neighborhoods and subdivisions

Next we’ll provide a list of Almaden neighborhood and subdivision names with links to their descriptions (more links to come as more articles are written).

Almaden Hills Estates

Almaden Meadows neighborhood

Almaden Springs

Almaden Winery: Tresor, Vineland, Vintage

Brianna

California Ridge townhouses

Country Club

Country View Estates

Creekside

Crossgates

Glencrest

Glenview Serenity

Goldcreek

Graystone and Pfieffer Ranch

Guadalupe Oak Grove (near the park)

Montego

Montevideo

Mountain Shadows

New Almaden

Hacienda Cemetery and Memorial Park in New Almaden

Oak Canyon

Oaktree Park

Orchard Creek

Pierce Ranch

Shadowbrook – features a swim club

Silvercrest townhomes

Sunrise of Almaden

Villas of Almaden

Woodside of Almaden

 

Is there a neighborhood, subdivision, or community missing from this list? If so, please let me know and I’ll add it!

The Naglee Park neighborhood in downtown San Jose is one of the most charming and historic areas in Silicon Valley. Known for older, beautifully maintained and updated homes, it boasts an annual historic homes tour.

Located just east of San Jose State University, it is extremely convenient for those involved with the college or who work downtown.  Scenic Coyote Creek is its eastern boundary, Highway 280 the southern one, and E Santa Clara Street the northern edge of this community. This neighborhood is also close to the ever popular Happy Hollow Park and Zoo (which is in south San Jose, also along Coyote Creek).

Map of the Naglee Park neighborhood

 What are homes in Naglee Park like?

Houses and homes in Naglee Park are primarily older, with the most historic being constructed in 1890. The average year built is 1935 as some of the properties were put up as recently as 2014 – though that is very unusual.

Besides being older, often historic homes, what can we say about the Naglee Park homes? First, there are 859 single family homes there, plus 39 duplexes, plus other types of housing in the mix. So it is a good sized community.

Livable square footage in the single family homes ranges from a very modest 480 SF to an over sized 5007 SF of living space, with 1904 Sf being average. The average lot size is 6776 – pretty typical for most of San Jose, actually.

A variety of architectural styles can be found in Naglee Park, including Victorian, Craftsman, Mediterranean, and more. A few years ago, I had the pleasure of selling a house in Naglee Park which was a beautiful Italian-Mediterranean style with classic beauty.

Naglee Park home - S 14th StreetNaglee Park - Living RoomNaglee Park - Dining RoomNaglee Park - Milk Delivery Detail034 Naglee Park Doorknob Keyhole 750x400 - Naglee Park NeighborhoodNaglee Park - Patio and Fountain

What do homes cost in Naglee Park?

Right now, in early 2018, inventory is very low, and therefore our data is also low. In general, though expect to find homes selling for between $1 million and $2 million, but on the high end of that range in most cases.  (It could be less if the home was small and in great disrepair, or more if the home were huge and newly renovated or rebuilt.) If you want to purchase a turnkey home in Naglee Park, it would be good to budget a minimum of $1,500,000 for a smaller home, and understand that it could go for close to $2 million.

download 800x204 - Naglee Park Neighborhood

Neighborhood data gathered February 20th, 2018

Are there any concerns with living in Naglee Park?

Like any downtown area in a big city, this is a place where you do lock your doors at night and can expect to sometimes deal with people wandering through who don’t live there and may be down on their luck. With the university nearby, parking may be an issue for some parts of Naglee Park.  Coyote Creek does sometimes flood, but most of Naglee Park is not in a flood plain and was not too badly impacted by the floods in the winter of 2017. Ask most of the residents what they think, though, and they’ll tell you that the beauty and convenience of the neighborhood far outweigh any potential issues.

 

Read more – other downtown San Jose or central San Jose areas:

Japantown
Buena Vista
Rose Garden

Home values in Santa Clara County, the heart of Silicon Valley, have been going through the roof ever since Google announced that it was going to expand into downtown San Jose. Communities like Cambrian, Willow Glen, Blossom Valley, and Santa Teresa were seeing values rise at a good clip prior to the announcement. But since Google essentially put the golden shovel into the ground – in theory – the prices turned straight up, like a geyser. Santa Clara County appreciation has perhaps never been stronger than it is right now.

Realtor Property Network, or RPR, is a tool available to those of us who are dues paying members of the National Association of Realtors. Tonight I was looking at the data for a few communities within Santa Clara County, and was amazed at the appreciation over just the last month in some of them. Here’s what I found:

 

Santa Clara County Appreciation

The more expensive areas, such as Los Gatos, are appreciating nicely – but not at the same rate as the more affordable areas like Blossom Valley and Santa Teresa (both districts within the sprawling city of San Jose).Santa Clara County Appreciation as whole has risen 21.77% since a year ago.

What does that mean?

In terms of dollars and sense, it can mean seeing your whole down payment disappear. Those who have cautiously waited on the sidelines have seen the value of their buying power shrink while they studied the market and looked for a good deal.

In Santa Teresa, the median home price this last month was $965,000 and the average home price was $981,000 (per my Silicon Valley Real Estate Report). Six month ago, those numbers were $875,000 and $896,000. Home prices have gone up about $14,000 – $15,000 per month (based on the median and average sale prices).

While I was mid way through my research, the RPR site went off for scheduled maintenance. I was going to check Saratoga and Cupertino next to see if my theory holds true that this rising tide (i.e., Google) is mostly floating the boats in the most affordable areas. That will have to be continued.

At my office meeting yesterday, I heard many real estate agents tell tales of woe for their buyers, who were going up against 20 to 30 or 40 other competing offers – or more!

It is, indeed, a challenging time for home buyers. For home sellers, it’s a dream – as long as they don’t also have to buy here in Santa Clara County or anywhere else in Silicon Valley.

Interested in buying or selling in Santa Clara County, or nearby? Please give me a call and we can schedule a time for a confidential consultation.

Cambrian Park Plaza SignThe months of inventory for any part of the real estate market can vary, depending on many factors, including age of home, house size, lot size, and school district, whether or not there’s a pool, and many other things. It can be very useful to understand this metric when selling a Silicon Valley home. I’ve done market numbers crunching tied to the specific characteristics of a property (say, small yard with pool or big yard with no pool) to find the impact of those characteristics on the probability that a home will sell – or how fast.

The Cambrian area of San Jose is a very “hot market” overall, but it can be confusing to know how hot it really is, just like the rest of Santa Clara County, because there are multiple school districts – and schools are probably the number one driver of home values in this highly educated valley.

An explanation of “months of inventory”

What does “months of inventory” mean? This figure references how long it would take to sell a property if homes continued to sell and close at the current pace with no new inventory coming on the market. A good analogy is to consider a bathtub which drains. If you add no new water to the tub, how long will it take to empty out?

The months of inventory is sometimes called the absorption rate. The question is simple: how long will it take for the current inventory of homes for sale to get absorbed by the home buyers purchasing them? It doesn’t have to be calculated by months. It could be in days, weeks, or years. But months is probably most common.

The Cambrian area of San Jose’s months of inventory as a whole, and in one price point

Cambrian was once an enormous zone of the Santa Clara Valley. Today we mostly think of it as within San Jose in the 95124 and 95118 zip codes. Some of it it adjacent to Campbell – a very tiny sliver is IN Campbell (we’re only dealing with the San Jose portion in our charts), and a tinier still area is in San Jose and is under the Campbell School Union District. Most of this area is in one of three elementary school districts: Cambrian, Union, or San Jose Unified.

Here’s the breakdown – first, for ALL of Cambrian (MLS area 14 for my Realtor readers) that’s within the City of San Jose and second, by elementary school district. The area for Campbell Elementary is so small that the numbers are usually not of use (no offense to the Campbell school residents). It can just jump around too much to be helpful and often gives us no usable data. Please have a look:

1A - Cambrian months of inventory

I highlighted the San Jose Unified Elementary School District in both charts as the current lowest MOI. You’ll see that past charts show that the fastest market shifts around. Aside from Campbell, which has numbers too small to register a MOI, these are the hottest tickets in the district.

Below are some past charts for comparison. This one is recent, from early January 2018.

1b - Cambrian months of inventory

In this chart, it’s the Union Elementary School District in both charts with the lowest MOI.

Here are the numbers from September 2017 for comparison:

2 - Cambrian months of inventory

The message I’d like to convey is this: you can read about information for your part of Silicon Valley, or your city or zip code, but it’s not until you drill things down to an area that closely matches your own home will you have a better sense of your own home’s “real estate marker.” It’s never “how is the market?” so much as “how’s the market for YOUR home – or the one you want to buy?”

If you were only tracking the whole of Cambrian, you might see .643 months of inventory. That’s a lightning fast seller’s market. But it’s not quite so fast if you’re selling a Cambrian home in the Union Elementary Schools area of the entry-level market. There, you’re seeing 3 whole months of inventory for homes around $1 million, while the same price point with San Jose Union Schools is almost one tenth of that, a low 0.375.

Years ago, I had a Willow Glen listing where the whole back yard was the pool. I did a study on the months of inventory and learned that pools in properties with that lot size took substantially more time to be absorbed. Likewise, I had a Los Gatos estate property on an acre of land, and the reverse was also true: the months of inventory showed that large lots on $2 million and up homes for sale did not sell nearly as well without a pool.

The math is simple: using the same criteria, divide the number of active listings by those of homes sold in the last 30 days. The criteria can be anything you like – a property’s size, location, number of bathrooms, price, age, etc. Often I include approximately the same home and lot size together with the school district. That usually provides much more accurate info on “how’s the market” as compared to just getting it by zip code alone.

If you are looking to buy or sell a home in Cambrian, or anywhere in San Jose or Santa Clara County, this kind of information is really important. It is not hard to do, but very few real estate agents will provide this information before you list or before you make the final determination on the list price of your home.

Looking for a good Silicon Valley Realtor who will get you that extra data? Please call or email me. I would love to chat to see about possibly working together.

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

Prices are up year-over-year due to a prolonged, unrelenting sellers market. Available inventory is less than half of what it was a year ago, while sales remain consistent. This is bad news for buyers – the market conditions can’t balance out without inventory to meet the demand!

Trends At a Glance Jan 2018 Previous Month Year-over-Year
Median Price $1,163,000 (-10.1%) $1,293,690 $929,000 (+25.2%)
Average Price $1,439,310 (-7.5%) $1,556,330 $1,259,470 (+14.3%)
No. of Sales 450 (-36.1%) 704 488 (-7.8%)
Pending 581 (+12.8%) 515 533 (+9.0%)
Active 376 (+38.7%) 271 762 (-50.7%)
Sale vs. List Price 108.9% (-0.4%) 109.3% 101.2% (+7.6%)
Days on Market 21 (+2.0%) 21 37 (-43.0%)
Days of Inventory 25 (+117.1%) 12 47 (-46.5%)

And the numbers from last month for comparison:

Trends At a Glance Dec 2017 Previous Month Year-over-Year
Median Price $1,293,690 (+0.4%) $1,288,500 $960,000 (+34.8%)
Average Price $1,556,330 (-3.9%) $1,619,100 $1,186,120 (+31.2%)
No. of Sales 704 (-11.1%) 792 746 (-5.6%)
Pending 515 (-32.1%) 758 544 (-5.3%)
Active 271 (-41.2%) 461 694 (-61.0%)
Sale vs. List Price 109.3% (+0.8%) 108.5% 101.2% (+8.0%)
Days on Market 21 (-3.5%) 22 34 (-39.3%)
Days of Inventory 12 (-31.6%) 17 28 (-58.6%)

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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.
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Special focus on:
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Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
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Top 25 real estate blogs 2016
2016: Personal Income's list of top 25 real estate blogs.


Best Realtor blog award
2016: Coastal Group OC's list of best Realtor blogs


The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


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.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

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