silicon valley

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

Continue reading

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.

You might notice things look a little different. The REReport page has been updated to improve load time and give mobile viewers a better experience. With the update, the Sales At A Glance (the bullet points) section and both Short Sales and Foreclosures have been dropped, but Days of Inventory has been added and if you click the link you will find a new kind of market commentary available. It will take a little while to clean up some quirks in the new system, so each area might have some things missing, but expect them to return soon! Thank you for your patience.

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:

Continue reading

Willow Glen in San JoseWillow 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 hasn’t improved much since last year, and homes continually sell over list price quickly, in under a month. Willow Glen remains in 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.

You might notice things look a little different. The REReport page has been updated to improve load time and give mobile viewers a better experience. With the update, the Sales At A Glance (the bullet points) section and both Short Sales and Foreclosures have been dropped, but Days of Inventory has been added and if you click the link you will find a new kind of market commentary available. It will take a little while to clean up some quirks in the new system, so each area might have some things missing, but expect them to return soon! Thank you for your patience.

Things are slightly hotter since last month. Even then, a little cooling won’t take us out of a deep sellers market, but it would ease conditions slightly for long-term buyers.

And next, of Willow Glen condos:

Continue reading

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.

You might notice things look a little different. The REReport page has been updated to improve load time and give mobile viewers a better experience. With the update, the Sales At A Glance (the bullet points) section and both Short Sales and Foreclosures have been dropped, but Days of Inventory has been added and if you click the link you will find a new kind of market commentary available. It will take a little while to clean up some quirks in the new system, so each area might have some things missing, but expect them to return soon! Thank you for your patience.

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!

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

Oaktree Park Neighborhood in Almaden Valley area of San JoseThe Oaktree Park neighborhood in San Jose is a scenic residential community with wide appeal to home buyers due to good Almaden schools, close proximity to large parks and is one of only a few areas in Almaden Valley which includes a cabaña and swim team. Additionally, this area is very convenient as it’s close to schools, shops and commute routes to downtown San Jose and much of Silicon Valley. It is a fairly intimate neighborhood with 156 homes.

Where is the Oaktree Park neighborhood?

The Oaktree Park subdivision is within the boundaries of Meridian Avenue, Redmond Avenue and Mcabbe Road on three sides and the Jeffrey Fontana Park on the north side.

The census bureau (and perhaps also the city of San Jose) has attributed names to some parts of Almaden and this neighborhood falls into the Crossgates section. I do not believe that most residents refer to this area that way, though. Perhaps more likely they’d call it part of the greater Fontana Park neighborhood.

Oaktree Park Neighborhood in San Jose (Almaden Valley area of SJ)

Oaktree Park Neighborhood in San Jose (Almaden Valley area of SJ) – click on image above to go to live Google Map

What schools serve the Oaktree Park neighborhood in San Jose?

The public schools for Oaktree Park are within the San Jose Unified School District:

Los Alamitos Elementary School (API 935 in 2013)
Castillero Middle School (API 846 in 2013)
Pioneer High School (API 822 in 2013)

Los Alamitos Elementary and Holy Spirit Elementary (Catholic) are both just a couple of blocks from Oaktree Park. Additonally there are 2 preschools really close too: Precious Preschool and Shepherd of the Valley Lutheran Preschool.

For more information and links for schools, school districts, API scores and maps of boundaries lines for schools in the Almaden area of San Jose, please also read:

Schools, API Scores & Maps of School Boundaries in San Jose’s Almaden Valley

What are homes like in Oaktree Park?

Homes in Oaktree Park are single family dwellings – all detached houses (no townhouses or condominiums). These are primarily ranch style or two story ranch style houses, built in the early 1970s  on lots of about 8000 to 9000 square feet, though a few are more than that. Interior size runs between about 1600 square feet to about 3000 square feet (if added on). Prices may be in the mid 600s for a smaller home, needing work and a less desirable location (such as on a busy road or immediately adjacent to the high voltage power lines that run through the park) to perhaps a little over a million dollars for a beautifully updated or rebuilt larger home in an ideal location within the neighborhood. In the current market (June 2017), smaller homes are going between the mid $900s to the mid $1.1 million mark and larger homes are selling between $1.2-$1.3 million.

More information on the Oaktree Park neighborhood below!

Continue reading

Often I have clients who are interested in purchasing a 4 bedroom, 2 bath home in a good school district in Silicon Valley, particularly in the South Bay and West Valley areas. Tonight I did a study on the MLS of homes that have sold and closed escrow in the last 4 months with these characteristics:

  • single family home (house)
  • 4 bedrooms
  • 2 bathrooms
  • 1800 to 2200 square feet of living space
  • 6000 to 10,000 sf lot

Disclaimers aside, here are the numbers for select West Valley Communities in the West/South Bay area with good schools. The first number is the average sales price per square foot, the second number is the average sales price:

And a look at the chart from all back in 2015…

And all the way back in 2011. What’s changed? A lot! The order has shifted some, showing where demand has increased or decreased. Most noticeably, the prices are significantly lower in 2011 than they are now. The 2015 chart shows prices somewhere in-between the 2011 and 2017 levels. Palo Alto and Los Altos remain consistently in the top two positions.

The home prices tend to run with the school district API scores.  You can check the 2013, three year average, API scores in Santa Clara County for both the districts and the individual schools online here.         Continue reading

hero-shakespeare-hollywood-768x400 - CopySummer means outdoors Shakespeare! The Los Gatos troupe, Festival Theatre Ensemble, has closed its doors for good, but don’t despair – there’s more to see in Saratoga!

Silicon Valley Shakespeare, formerly known as the Shady Shakespeare Theatre Company, is gearing up for the upcoming season of outdoors performances. This group has been active for 16 years and is a well-loved regular in the Saratoga summer arts scene. Every year they hold two sets of outdoor performances. The first are free performances of a Shakespeare classic in Willow Street Park of Willow Glen, San Jose. Bring your own seating and come early for the best spot. Following that, they produce a second Shakespeare play and another more contemporary work at the troupe’s usual venue, Sanborn Skyline County Park in the hills over Saratoga. Tickets may be purchased in advance for the Saratoga performances.

This year, the first show in San Jose will be the Merry Wives of Windsor held in June, providing locals the opportunity to enjoy free, live theatre within the community (donations are welcome). In Saratoga, see the Prince of Denmark in Hamlet from July through September, or catch the contemporary addition to Sherlock Holmes‘ adventures in the new case by Jeffrey Hatcher from August through September.

It’s a great deal, too, with tickets priced at $25. Senior (60+), college student, and educator discounts for $20, and kids come free with paying adult. Tickets are available to purchase online, so buy tickets ahead of time. Shows run through September 3rd.

Check the Silicon Valley Shakespeare website for more!

  1. 3 beds, 2 baths
    Home size: 1,500 sq ft
    Lot size: 1.40 ac
  2. 3 beds, 2 baths
    Home size: 1,536 sq ft
    Lot size: 5.00 ac
  3. 4 beds, 3 baths
    Home size: 2,165 sq ft
    Lot size: 2,848 sqft
  4. 4 beds, 3 baths
    Home size: 2,224 sq ft
    Lot size: 3,319 sqft
  5. 4 beds, 2 baths
    Home size: 1,983 sq ft
    Lot size: 10,101 sqft
  6. 3 beds, 3 baths
    Home size: 2,057 sq ft
    Lot size: 10,375 sqft
  7. 3 beds, 3 baths
    Home size: 2,235 sq ft
    Lot size: 6.00 ac
  8. 5 beds, 5 baths
    Home size: 6,181 sq ft
    Lot size: 3.79 ac
  9. 3 beds, 3 baths
    Home size: 2,106 sq ft
    Lot size: 8,881 sqft
  10. 3 beds, 3 baths
    Home size: 2,319 sq ft
    Lot size: 1,916 sqft

See all Real estate in the city of Los Gatos.
(all data current as of 7/23/2017)

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

Almaden Valley in San Jose is comprised of many neighborhoods and subdivisions. One of them, close to the border with Los Gatos and Cambrian Park, is particularly popular: the Oak Canyon neighborhood.

There are many reasons for its draw among Silicon Valley home buyers: the houses were well built by Shea Homes in about 1980, so they are relatively newer by Silicon Valley standards. They’re larger homes on comfortable lots, often 8000 sf or so but some as small as 6500 sf and others larger than a quarter acre in the Oak Canyon corner of Almaden.

Most of the homes boast a 3 car garage, which is a big help with storage of stuff, if not storage of cars. The roads gently turn, which makes a more pleasing look. It’s a very “conforming” neighborhood where everyone keeps up the homes and yards. Much of Almaden is viewed by consumers as somewhat remote, but this section, near the mouth of Almaden, is not too deep into the valley and is a better commute location for most. One of the largest pulls for the area, though, is the nearby elementary school, Guadalupe School, which has API scores in the 900s.

Oak Canyon Drive, San Jose, CA 95120 - a neighborhood in the Almaden Valley Oak Canyon Dr in San Jose Oak Canyon neighborhood home Oak Canyon street Oak Canyon 2 story house Oak Canyon home with 3 car garage Oak Canyon street along the Guadalupe Creek This floor plan in Oak Canyon boasts a master bedroom suite with balcony.  Many of these properties face the hills. An Oak Canyon house with a welcoming front porch.

Where is the Oak Canyon neighborhood in Almaden Valley, San Jose?

Oak Canyon is found near the intersection of Camden Avenue and Coleman Road in San Jose but is bordered by Coleman on one side and the Guadalue Creek on the other sides. (The far side of the Guadalupe Creek at this point is Cambrian Park.)

oak-canyon-map

And to provide some bearings, here’s a map of the Almaden Valley district of San Jose generally:

almaden-valley-map
Continue reading

Los Gatos High - Silicon Valley home prices by high school districtBelow, please find the charts indicating Silicon Valley home prices by high school district for transactions closed in December 2016 for condos and townhomes first, and later also for single family homes.  The vast majority of Silicon Valley is found within Santa Clara County and San Mateo County, with small portions also in Santa Cruz County and Alameda County.  Alameda County is not part of the local MLS, so unfortunately I don’t have that data to share.  The data presented here is courtesy of my brokerage, Sereno Group.

Silicon Valley home prices by high school district: a few words of caution

If you only glance at the median sale price, you may be confused about the most expensive Silicon Valley places in which to live for the condominium or townhouse buyer.  For instance, in Santa Clara County, the Los Gatos-Saratoga Joint Union High School District has a median sale price of $1,4 85,000.  At first view, this seems to be the most expensive part of the county.  But please note that the average square footage is 1910.  Now look at Palo Alto Unified, with a median sale price of $1,260,000 – but an average square footage of just 1313.    The price per square foot, though, correctly pegs the pain value of home buying in Silicon Valley as PA Unified comes in at a whopping $1,014 per square foot.  (More disclaimers: large homes sell for much less than smaller ones on a price per sf basis, so this is more helpful when the average square footage is similar.)

Also, please note that the high school district boundaries do not neatly follow those of city, town, zip code, or any other boundary. It’s sloppy at best.  Campbell Union High School District covers not only Campbell, but parts of San Jose, Los Gatos, Saratoga, and Monte Sereno.   The Los Gatos-Saratoga Joint Union High School District encompasses parts of Los Gatos, Saratoga, Monte Sereno, the Los Gatos Mountains and even a sliver of the Almaden Valley in San Jose.

Condos and townhomes – prices by high school district

San Mateo County and Santa Clara County home prices by high school distirct

San Mateo County and Santa Clara County home prices by high school distirct

Santa Cruz County has some Silicon Valley jobs and a strong number of residents who work in tech on the other side of “the hill”. Studying these home values, you can imagine why some locals are willing to commute across the Santa Cruz Mountains. It is much more affordable.

Santa Cruz County home prices by high school district

Santa Cruz County home prices by high school district

Next, the same data but for single family  homes .

Single family homes pricing by high school district in San Mateo County and Santa Clara County

Single family homes pricing by high school district in San Mateo County and Santa Clara County

 Santa Cruz County single family home prices by high school district

Santa Cruz County single family home prices by high school district

Interested in buying or selling anywhere in these counties?  Please call or email me today!

 

Related reading:
Cambrian Months of Inventory (by elementary school district)
Saratoga, CA real estate market update (with info by price point and high school district)
Los Gatos real estate market trends by price point and high school district (on the Live in Los Gatos blog)
Learn more about what homes cost in Silicon Valley on the Move2SiliconValley blog

Buying a home in Silicon Valley is seldom easy, but right now, it’s nearly impossible with Santa Clara County’s critically low housing inventory.  With rising interest rates getting folks off the fence and strong job growth in the San Jose area, there are many more home buyers than home sellers.   While this isn’t unusual, the severity of the problem certainly is extreme.    How bad is it?  Here’s a visual cue dating from January 2003 to December 2016 which indicates that last month’s inventory of single family homes for sale in Santa Clara County is the lowest we’ve had since January 2003 (that’s how far back MLSListings.com shows them).  Perhaps much longer.

 

2017-1-3 Inventory of Single Family Homes in Santa Clara County

It’s all about supply and demand.  Look at the shortage of supply!   Below is an alternate presentation of the same information but as a spread sheet format. I like this better because you can skim all of any particular month, such as December, and see how the most recent one compares to the same month in prior years.  December 2016 had just 515 houses and duet homes on the market.  The year before it was 834, which is historically low, but not nearly as dire as the current numbers. Santa Clara County’s critically low housing inventory is at historic lows!

 Santa Clara County's critically low housing inventory

Santa Clara County’s critically low housing inventory

 

This is precisely why it is so hard to buy a home in San Jose, Los Gatos, Campbell, Saratoga, or anywhere in Silicon Valley today.  Has it improved since the inventory was measured by the MLS?  No, it hasn’t.  It was 452 as of January 1st and 450 today, on the 3rd!!  This is sort of like “inventory limbo” – how low can you go?

How does this impact you?

Many long time residents may recall that we have had a shortage for a few years here.  In January 2012, I wrote about it here: Why is it so hard to buy Silicon Valley real estate right now?  Compared to the recession that had just ended, inventory was low – I can look back now and think “wow, we had no right to complain!  We had a lot more inventory then as we do now!”  What also happened is that with the restricted inventory, home prices rose.  A lot.

If you are a renter and want to be a home buyer, you  now have two things going against you: rising interest rates and rising home prices (due to strong demand and critically low supply of homes to buy).  If you wait a year, there’s a good chance that you will lose quite a lot of buying power as interest rates continue to go up and home prices do, too.   Please check out my article on rates: How will rising interest rates impact your home buying power?  Super low inventories tend to cause rapid price appreciation, and if you aren’t careful you could be priced out of the market (either because of home prices or because of those rising interest rates).

Take heart, home buyers, often the supply of homes for sale does go lower in January before rising again in either late January or early February.  So buyers, hang on!

If you are a seller, this is great news for you as it’s very likely that your equity will be increasing with the tight inventory.  Buyer demand is good and interest rates are still very tolerable.  Don’t wait until interest rates rise to the point where it impacts home prices due to affordability.   At some point, we will hit that tipping point, and that’s when the all cash buyers really win.

1 2 3 39
Translation

by Transposh - translation plugin for wordpress
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.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
Let’s Connect
Find Mary on FacebookFollow Mary on Twitter
RSS FeedFollow Mary on YouTube

Please see more icons
at the bottom of the page.

The real estate search
Use the widget below to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now? Use the "find a home" link on the menu above (next to the "home" button).
Mary’s other sites & blogs
Valley Of Hearts Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling

Silicon Valley Real Estate Report
Silicon Valley real estate
market trends & statistics
Mary’s Blog Awards
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

Categories
Site Statistics
  • Users online: 3 
  • Visitors today : 554
  • Page views today : 2,467