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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
:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park and
Santa Clara County

Real Estate Search

Posts Tagged ‘trends’

Willow Glen real estate market – San Jose 95125

Monday, July 28th, 2014

How is the market?How’s the real estate market in the Willow Glen area of San Jose?  Like the greater Silicon Valley region, Willow Glen is comprised of many smaller micro-markets.  It will be different in north Willow Glen, Palm Haven, The Willows, or in a walk-to-town area than it will be in the Dry Creek area or St. Francis Woods neighborhood – let alone differences for school districts, price point, zip code and home type!  It’s a patchwork of all these smaller markets, in other words.  What’s happening in one segment might be very different than in another. Disclaimers aside, overall it is a seller’s market in Willow Glen right now.

Overall, listing and sales activity seems to be strong in Willow Glen right now, and prices up year over year (though slipping some  month over month).  The closed sale info is “history” so please take that with a big grain of salt.  Below are the basic numbers, stats and trends from the closed sales of houses for last month.  Further down in the article you’ll find the Altos Research charts as well.

TRENDS AT A GLANCE JUN 2014 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price -6.7% $933,000 $1,000,000 +3.7% $900,000
Average Sales Price -2.5% $1,060,800 $1,087,790 +3.3% $1,026,880
No. of Homes Sold +10.3% 75 68 -14.8% 88
Pending Properties -39.7% 41 68 -46.8% 77
Foreclosures Sold N/A 1 0 N/A 0
Short Sales Sold N/A 0 0 -100.0% 4
Active Listings -2.6% 74 76 -17.8% 90
Active Foreclosures N/A 0 0 N/A 0
Active Short Sales N/A 0 0 -100.0% 6
Sales Price vs. List Price -0.2% 102.9% 103.2% -0.2% 103.2%
Average Days on Market +2.3% 18 17 -24.7% 23

And the month before:

(more…)

Gilroy, the Garlic Capital of the World – things to do, homes for sale, the real estate market

Saturday, July 26th, 2014

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.   (more…)

Saratoga, CA, Real Estate Market Update

Thursday, July 17th, 2014

How’s the Saratoga California real estate market?

As always, “the market” is really several micro markets even within the same geographical area.  Let’s start with the broad view of how the real estate market is for the single family home (houses and duet homes) market as opposed to the condo & townhouse market in the same city.  So first, let’s look at the a graph displaying the overview of the median list prices for condominiums and single family homes in Saratoga – all price quartiles combined.  The market for single family homes has been in a fairly stable band for awhile, but is lower overall.  Does this mean that any particular house has lost value?  Not necessarily.  This represents homes for sale – and it may mean only that the more affordable properties are on the market (perhaps more in the Campbell Union High School District or simply “entry level” houses generally).  Ditto that for the rising median list price of condos.  It could indicate rising home values, or it could point to more expensive townhouses getting listed.

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

Let’s now focus in on the data for single family homes in Saratoga, and see if we can get a clearer picture of what’s happening with the Saratoga, CA real estate market.

Here are the real estate sales statistics for closed sales last month among houses and duet homes (if there are any) in the 95070 zip code (click on link to read the full Saratoga Real Estate Report for houses):

TRENDS AT A GLANCE JUN 2014 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price +5.2% $2,152,000 $2,045,500 +16.1% $1,854,000
Average Sales Price +5.4% $2,386,850 $2,265,270 +20.5% $1,980,220
No. of Homes Sold +16.7% 35 30 +9.4% 32
Pending Properties -19.4% 25 31 -37.5% 40
Foreclosures Sold N/A 1 0 N/A 0
Short Sales Sold N/A 0 0 -100.0% 1
Active Listings -1.6% 60 61 -17.8% 73
Active Foreclosures N/A 0 0 -100.0% 1
Active Short Sales N/A 0 0 -100.0% 1
Sales Price vs. List Price -0.8% 105.0% 105.9% +3.9% 101.1%
Average Days on Market -11.1% 23 26 -25.0% 30

It looks like prices are rising in Saratoga, both month over month and year over year. (more…)

The Cambrian Park Real Estate Market Update

Sunday, July 6th, 2014

My 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 Cambrian, we are seeing mild seasonal cooling taking place with unimpressive month over month numbers – in many segments, it’s flat, and in others a mild increase or decrease in pricing – but still very decent year over year appreciation.  Low inventory continues to make things difficult for home buyers. (Be sure to read to the end to see the live Altos charts too.)

Sales have been low because inventory’s been low – but you can see a slight uptick in the chart below.

Cambrian San Jose Real Estate Market June 2014 closings

 

Here are the June numbers:

TRENDS AT A GLANCE JUN 2014 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price 0.0% $820,000 $820,000 +8.5% $755,500
Average Sales Price -3.0% $839,408 $864,978 +12.5% $745,856
No. of Homes Sold -28.0% 54 75 -25.0% 72
Pending Properties -2.0% 50 51 -32.4% 74
Foreclosures Sold -100.0% 0 1 -100.0% 2
Short Sales Sold N/A 0 0 -100.0% 6
Active Listings +4.7% 45 43 -54.1% 98
Active Foreclosures N/A 0 0 -100.0% 2
Active Short Sales N/A 0 0 -100.0% 7
Sales Price vs. List Price -0.9% 104.5% 105.5% -1.7% 106.3%
Average Days on Market -2.2% 16 16 -20.4% 20

(more…)

Santa Clara County Real Estate Market

Sunday, June 15th, 2014

The Santa Clara County real estate statistics for Single Family Homes

May 2014 saw a little bit of a pullback on pricing in the San Jose area, which led to many watching the industry to begin speculating as to the cause and significance of the change (which was not huge).  Over the course of a year, or of several years, we do not see only straight paths up or down.  Nor to we see perfectly level pricing.  From month to month or quarter to quarter, fluctuation is part of the formula.  When I saw the numbers for the closed sales in May, it looked to me a lot like the normal seasonal patterns we tend to see.  This afternoon I pulled some of the stats using our local multiple listing service, MLSListings.com.  Where are things for the first half of June?  Back up, please  have a look at the 2nd chart below.

Those “normal seasonal patterns” usually include a runup early in the year followed by leveling off, and sometimes even a slight drop in pricing later in the year.  Some years there’s another rise in September and October, and some years that doesn’t happen.  What is normal, though, that that the Feb – April price escalation does not continue all year long.   We see more inventory toward summer – sellers seem to think that summer is the best time to sell, while many buyers are done by June, so that change in supply and demand often causes the prices to quit rising.

So let’s look at the numbers.

First, here’s a 3 year look at completed months for the median sale price in Santa Clara County.  The last month shown is May 2014 (since we’re not through June yet). You can see the little notch downward at the far right.  Please notice that there are lots of “notches downward” in the 3 year period – but the overall trend is not down, but up.

 

Santa Clara County Median Sale Price last 3 years

Santa Clara County Median Sale Price last 3 years

Next, let’s see just 2014 year to date, including the first half of June.
Santa Clara County Median Sale price YTD Jan - June 15 2014

Santa Clara County Median Sale price YTD Jan – June 15 2014

Here you can see that little downward movement in May is overshadowed by an upward movement in the first 15 days of June.  In fact, May is a tiny glitch on the overall upward trend of these numbers since January.

(more…)

Sunnyvale real estate market trends & statistics

Tuesday, May 13th, 2014

Sunnyvale has been an extremely hot seller’s market for many months. Prices are cooling a little from last month, but homes continue to sell in less than 30 days and the sale price to list price ratio remains at more than 105%.  In general, houses in Sunnyvale are selling for about a million 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.)

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 report):

 

TRENDS AT A GLANCE APR 2014 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price +1.0% $1,005,000 $995,000 +21.8% $825,154
Average Sales Price +4.5% $1,109,350 $1,061,080 +25.1% $886,907
No. of Homes Sold +10.0% 66 60 -29.0% 93
Pending Properties +8.5% 64 59 -5.9% 68
Foreclosures Sold N/A 0 0 N/A 0
Short Sales Sold 0.0% 1 1 -66.7% 3
Active Listings +136.8% 45 19 -16.7% 54
Active Foreclosures N/A 0 0 N/A 0
Active Short Sales -50.0% 1 2 -85.7% 7
Sales Price vs. List Price +2.5% 113.9% 111.1% +3.0% 110.6%
Average Days on Market +58.4% 18 11 +83.3% 10

What about the condo and townhome market?

(more…)

Cupertino Real Estate Market Trends and Statistics

Thursday, May 1st, 2014

How’s the Cupertino real estate market?

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 charts from the mls which I created myself, plus my monthly reports from my REReport subscription and also from my weekly updated charts from Altos Research, which uses listing data (not solds) and is automatically updated this week.  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.

Charts from MLSListings.com

Cupertino has been in a buying frenzy for the last couple of years with a wildly hot seller’s market.  Inventory is starting to rise again, which should (in theory, at least) cause some calming.  In the chart below, which I created from MLSListings.com, please see the relationship between available homes and those which have sold. The closer these bars are to each other, the hotter the market, and when they begin to distance themselves, there’s a cooling in progress.

 

ertino number of homes for sale vs sold

Next, a rough idea of pricing in this city – a view of listings by price range.  This gives prospective buyers a sense of what it costs to buy here, and a sense for sellers as to whether their price point is mainstream or perhaps too high for the area (not too many in the over $3 million range).

 

Listings by price range in Cupertino

(more…)