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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.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.

Posts Tagged ‘trends’

Morgan Hill real estate market

Monday, January 19th, 2015

How’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, prices are up strongly both month over month and year over year in this “south county” town. The sale price to list price ratio is down a bit.  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 them, so while most of the Silicon Valley has a sale price to list price ratio of over 100%, it’s below that here, making the home buying conditions much calmer for weary buyers.  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.

 

Live charts from Altos Research

The following charts are from Altos Research, updated automatically each week, using data of homes available to purchase (not sold / closed sales), for the Morgan Hill real estate market. (I have a paid subscription to this service.)

Morgan Hill homes listed for sale by price quartile

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

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Willow Glen real estate market – San Jose 95125

Tuesday, January 13th, 2015

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.  Values are up very substantially over last year, and up slightly from last month – somewhat atypical for the fall.

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.

 

The Willow Glen Condo market

And next, of Willow Glen condos:

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Saratoga, CA, Real Estate Market Update

Monday, January 12th, 2015

How’s the Saratoga California real estate market?

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 then the numbers I crunched for Saratoga – overall, and then by price point and high school district, as 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. (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.)  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”.

Here’s the chart for Saratoga – all price points, all school districts.  Overall it’s 2 months of inventory, which is crazy fast.

1SA

 

 

 

 

 

 

 

 

 

 

 

 

And for comparison here’s last month’s chart, which was also a strong seller’s market in the lower price ranges.

Saratoga all prices and schools 

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The Cambrian Park Real Estate Market Update

Monday, January 5th, 2015

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 are experiencing dreadfully low inventory of homes for sale.  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.   Sales are up and inventory is down.  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.

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 Stats At A Glance

Year-Over-Year

  • Median home prices increased by 12.0% year-over-year to $843,000 from $753,000.
  • The average home sales price rose by 16.3% year-over-year to $878,878 from $755,478.
  • Home sales fell by 16.9% year-over-year to 49 from 59.
  • Active listings fell 47.3% year-over-year to 29 from 55.
  • Sales price vs. list price ratio rose by 2.0% year-over-year to 105.4% from 103.3%.
  • The average days on market fell by 21.4% year-over-year to 22 from 28.

Compared To Last Month

  • Median home prices slipped by 1.4% to $843,000 from $855,000.
  • The average home sales price fell by 2.4% to $878,878 from $900,357.
  • Home sales up by 14.0% to 49 from 43.
  • Active listings dropped 35.6% to 29 from 45.
  • Sales price vs. list price ratio dropped by 0.2% to 105.4% from 105.6%.
  • The average days on market increased by 17.3% to 22 from 19.
The year over year median and average sales prices in Cambrian are up a healthy amount, if down a fraction from last month.  Generally speaking it is still a hot seller’s market and great time to sell a Cambrian home.  We were expecting a breather, but aren’t getting it – particularly in the areas with Union and Cambrian Schools.

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

Silicon Valley Home Buyers: Should You Use a Buyer Broker Agreement?

Friday, January 2nd, 2015

Happy New Year!  Today I am re-publishing an article originally posted on this site in May of 2010 because inventory is at a 10 or 20 year low and I am sensing that some of my buyer clients are beyond frustrated and are trying to think of alternative ways of purchasing a home here in highly competitive Silicon Valley.   Do you want to find homes that are not listed in the MLS?  Then please read on!

In many parts of the U.S., buyer broker agreements are normally used between home buyers and their real estate agents, much like listing agreements are used between sellers and theirs. It’s not so common in Silicon Valley, though. Often home buyers are a little spooked at the prospect of signing a contract for buyer representation & compensation.

My Realtor colleague and blogosphere friend, Elizabeth Weintraub, has a great article on this topic on About.com,  Buyer’s Broker Agreements & Buyer’s Broker Contracts, in which she explains the various types of buyer contracts and agreements which are commonly found around the country. The one which is used the most, if one is used at all, is the “exclusive representation” (which again is similar to a listing agreement, which is also usually an “exclusive representation agreement”).

Why would anyone want to use a buyer contract?  Whether you’re the consumer or the agent, the answer is pretty much the same: to have options. In my real estate practice, I do not request nor require a buyer contract as long as my buyer client is willing to purchase something from the selection available on the multiple listing service (MLS).  If that isn’t enough, though, then we chat about the buyer’s options.
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Sunnyvale real estate market trends & statistics

Thursday, January 1st, 2015

Sunnyvale has been an extremely hot seller’s market for many months.   In general, houses in Sunnyvale are selling for about a million two 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.)

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 report):

What about the condo and townhome market?

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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…)