statistics

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 after a prolonged, unrelenting sellers market. Inventory is almost half what it was a year ago, which is bad news for buyers – the market conditions can’t balance out without inventory to meet the demand!

Trends At a Glance Jun 2017 Previous Month Year-over-Year
Median Price $1,171,000 (-2.4%) $1,200,000 $1,050,000 (+11.5%)
Average Price $1,438,580 (-0.6%) $1,446,930 $1,330,430 (+8.1%)
No. of Sales 1,156 (+9.0%) 1,061 1,045 (+10.6%)
Pending 1,117 (-14.5%) 1,306 803 (+39.1%)
Active 788 (-16.4%) 943 1,381 (-42.9%)
Sale vs. List Price 105.9% (+0.1%) 105.8% 103.5% (+2.4%)
Days on Market 18 (-2.2%) 18 21 (-16.4%)
Days of Inventory 20 (-25.9%) 27 38 (-48.4%)

And the numbers from last month for comparison:

 

Trends At a Glance May 2017 Previous Month Year-over-Year
Median Price $1,200,000 (+3.4%) $1,160,000 $1,117,900 (+7.3%)
Average Price $1,446,930 (+1.2%) $1,429,430 $1,419,890 (+1.9%)
No. of Sales 1,061 (+27.4%) 833 962 (+10.3%)
Pending 1,306 (+10.8%) 1,179 963 (+35.6%)
Active 943 (+5.0%) 898 1,290 (-26.9%)
Sale vs. List Price 105.8% (-0.3%) 106.1% 104.4% (+1.3%)
Days on Market 18 (+5.9%) 17 19 (-6.2%)
Days of Inventory 27 (-14.7%) 31 40 (-33.7%)

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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 MAY 2017 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price +0.1% $1,710,000 $1,709,000 +17.9% $1,450,000
Average Sales Price -1.0% $1,681,740 $1,698,230 +14.1% $1,474,230
No. of Homes Sold +47.9% 71 48 +9.2% 65
Pending Properties -11.4% 62 70 +29.2% 48
Foreclosures Sold N/A 0 0 N/A 0
Short Sales Sold N/A 0 0 N/A 0
Active Listings +3.8% 27 26 -30.8% 39
Active Foreclosures N/A 0 0 N/A 0
Active Short Sales N/A 0 0 N/A 0
Sales Price vs. List Price +1.3% 113.3% 111.8% +4.6% 108.3%
Average Days on Market +14.0% 11 10 -12.7% 13

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 some neighborhoods might have information missing, but expect them to return soon! Thank you for your patience.

What about the Sunnyvale condo and townhome market?

Continue reading

How’s the Saratoga California real estate market?

Orchard and Hills in Saratoga, California

Orchard and Hills in Saratoga, California

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 the numbers I crunched for Saratoga – overall and by price point and high school district, since Saratoga has 3 different high school districts, each with an impact on home values.

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.

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.”

(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.)

Here’s the chart for Saratoga – all price points, all school districts.

And for comparison, here’s the chart from last month:

This month shows a very stable market with minute cooling since last month. The overall 1.808 MOI is a hot sellers market showing active Summer market conditions. By comparing across school districts you can see how different each area’s individual market can be. The overall MOI for different schools this month ranges from 0.8 to 2.167. Small levels of inventory can create big data swings and can make for less accurate charts. Nonetheless, we can still spot market trends if we know where to look.

 

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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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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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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

Door knockerToday is the first of November. For many Santa Clara County home buyers and sellers, it marks the beginning of “the holiday season” and the end of the home buying & selling season. But is that always the case?

In my real estate practice (San Jose, Los Gatos and all over the county), normally I do have sales activity in November and December. Many times, clients want to be in their new home before the December holidays and the new year. Sometimes it’s for tax reasons. Other times it’s a late year relocation. Once in awhile, someone just wants Christmas, Hanukkah or some other major date in the new home.

This morning I logged onto MLS Listings to see the numbers of sales of single family homes in the month of November over the last dozen years or so to see what we could learn about November home sales in Santa Clara County. We don’t have a crystal ball for November 2014, but if annual patterns hold true again, around 800 homes are likely to sell this month. The lowest number in recent history was 510, and that was during the recession.  Here, then, are the counts for houses sold in SCC in the last 17 years (as far back as I could go on the MLS):

2013 – 762

2012 – 810

2011 – 834

2010 -856

2009 – 853

2008 – 672

2007 – 510

2006 – 853

2005 – 992

2004 – 1146

2003 – 1136

2002 – 933

2001 – 996

2000 – 926

1999 – 1051

1998 – 1080

People still need to buy houses, for whatever reason it may be. The statistics tell us that they continue to do so here in November.  If you are thinking of selling your Silicon Valley home, don’t believe that you must wait until the new year.  A good, well priced, well presented, and well marketed home really can sell here at any time of year.  Unlike the northeast, we do not have terrible weather that makes showings difficult or unappealing.   If you’re interested in a fall or winter home sale, please call or email me.  We can discuss it, your home’s pricing and everything else relevant to give you good information on which to base your decision.

 

Related reading:  Holiday Home Selling: Good or Bad Idea?

  1. 5 beds, 3 baths
    Home size: 2,141 sq ft
    Lot size: 8,511 sqft
  2. 3 beds, 2 baths
    Home size: 1,355 sq ft
    Lot size: 5,871 sqft
  3. 4 beds, 3 baths
    Home size: 1,474 sq ft
    Lot size: 967 sqft
  4. 1 bed, 1 bath
    Home size: 868 sq ft
    Lot size: 165 sqft
  5. 2 beds, 1 bath
    Home size: 1,050 sq ft
    Lot size: 6,398 sqft
  6. 5 beds, 5 baths
    Home size: 3,293 sq ft
    Lot size: 8,237 sqft
  7. 3 beds, 3 baths
    Home size: 1,750 sq ft
    Lot size: 1,642 sqft
  8. 3 beds, 2 baths
    Home size: 1,372 sq ft
    Lot size: 6,089 sqft
  9. 4 beds, 2 baths
    Home size: 1,150 sq ft
    Lot size: 5,501 sqft
  10. 2 beds, 2 baths
    Home size: 1,292 sq ft
    Lot size: 1,293 sqft

See all Real estate in the city of San Jose.
(all data current as of 7/20/2017)

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

Gilroy Garlic FestivalGilroy is a scenic area well known for wineries, farmland and fruit stands.  More than anything,  it’s most iconic produce is garlic, which is celebrated late each July with the annual Garlic Festival, which began yesterday and continues through the weekend.  If you’ve never been, I highly recommend it!  Go early and bring your appetite!  There’s more than just eating to be enjoyed, but eating is surely high up on the list of priorities!  Click on the link above to see what’s on the schedule this weekend.  (Be sure to wear sunscreen and a hat. It is very hot…so drink a lot of water…)

In the days and weeks leading up to this fun food festival, the scent of garlic fills the early morning air and blows north along the coastal foothills so that those of us in Silicon Valley get a healthy nose full when grabbing our morning paper off the driveway. This has been my experience since I was a small child and I’m happy that all the progress of the last 40 or 50 years hasn’t changed the smell of garlic heralding mid-summer.

Garlic is king in Gilroy, but it’s not all that’s happening there

A nice easy, and fairly fast trip by car will bring you to South County and to Gilroy.  It’s a wonderful day trip to explore the backyard of Silicon Valley, or better, take a whole weekend to get to know the area.  There’s a nice downtown area where you can do some shopping and dining.  Go out a bit and there are a number of fabulous wineries to check out.  And lest we forget, Gilroy is a local epicenter of bargain shopping.

At the intersection of highways 101 and 152, the Gilroy Premium Outlet Mall is found.  Go with the intention of spending money, because resistance is futile once you park your car.  This afternoon I spent a few hours there with my daughter and we found some especially good pricing on clothes – perhaps because of the Garlic Festival and the anticipated crowds.

Many will attest that cars are found for a better price there, too.

But wait, there’s more!  Gilroy is also home to a charming family amusement park (aimed at younger kids), Gilroy Gardens.   Continue reading

The 95129 area of San Jose, which is sometimes referred to as the “Cupertino Border” area and is generally part of “West San  Jose”, is highly desirable due to the excellent school scores in the Cupertino School District (which much of this zip code enjoys – but not all), well maintained homes and great commute location to companies such as Apple (headquartered in Cupertino). Today we’ll consider the real estate market activity for houses in this area today and in relation to recent history.
This data  will be automatically updated by Altos Research (to which I have a subscription) weekly. Altos uses list prices, not sales or sold prices, FYI.

Median List price for San Jose 95129

Median list price, all quartiles combined, going back about 7 years. Peak for pricing was in very late 2007.

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

Median list price for just the last 12 months:

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

Condominiums and townhouses in Santa Clara County have enjoyed rapid appreciation and almost perfectly steady improvement in the market in the last 18 months or so.  Today we’ll take a snapshot view of it with a few graphs.  First, let’s consider the average Days on Market (DOM) and the sale price to list price ratio for condos and townhouses in Santa Clara County.

Santa Clara County Condos and Townhomes Average DOM & Sale to List Price Ratio July 2 2013

Santa Clara County Condos and Townhomes Average DOM & Sale to List Price Ratio July 2 2013

 The chart above shows some calming down in the Santa Clara County condo market.  First, it appears that the sale price to list price ratio stopped its wild ascent and has reversed itself some in June 2013.  But also, it seems that the days to sell leveled out (and stopped its decline).  Just to check on the apparent trend, I went to MLSListings and ran the numbers for the closed sales just yesterday and today (July closings).  The average sale price to list price was 106%, a tad lower than what we saw in June.

What about new inventory vs sold homes?  In the chart below, we see that the gap between them widened in June: more inventory, fewer sales (of course the June sales were contracts ratified in May, in most cases).  This also suggests a loosening in the condo market here. It’s not suddenly a buyer’s market, but perhaps we are seeing the beginning of a trend reversal?  Have a look at the chart:   Continue reading

Translation

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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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San Mateo County, and
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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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