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 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 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.
As you can see, there’s quite a range of pricing for our model 4 bed, 2 bath home of about 2,000 square feet – it could run as low as about $808,000 on average (Blossom Valley area, San Jose) to a high of about $2,300,000 in Palo Alto.
Please remember that these homes do not represent just the best homes in the most ideal locations, nor the worst – it’s all types of houses, all types of sales, so average numbers. So if you are a buyer who needs a “turnkey” home with everything remodeled or new in the best location, you might want to mentally add at least another 10% to 25% to this cost.
Here are a few areas in Santa Clara County which are well known for good schools:
Palo Alto Unified = 932 (includes elementary, middle and high schools)
Los Altos Elementary = 961 (includes elementary and middle schools only)
Mountain View – Los Altos Union (high schools) = 871
Saratoga Union Elementary = 959
Los Gatos Union = 929
Los Gatos – Saratoga Joint Union (high school district) = 906
Cupertino Union = 962
Fremont Union High School District (high schools serving Cupertino and nearby) = 890 (but 2 high schools are in the 9s)
Union School District (Cambrian & east Los Gatos) = 927
Cambrian School District = 880
Campbell Union High School District = 784 (highest scoring school is Leigh at 833)
San Jose Unified is enormous… In Almaden, Leland has very very high scores, as does Bret Harte Middle School, so those area are preferre (all of the elementary schools in Almaden are quite good).
But wait, there’s more!
These aren’t the only areas with great schools in Silicon Valley, of course. West San Jose and Santa Clara have areas that share Cupertino Schools, for instance. Monte Sereno is 99.5% in the Los Gatos School area (but there were no homes matching our outline in the last few months). The Los Gatos Mountain communities such as Redwood Estates, Holy City, Aldercroft Heights and Chemeketa Park enjoy fabulous schools (Lakeside and Loma Prieta districts). There are wonderful schools in the Silver Creek area of Evergreen, the Warm Springs and Mission Districts of Fremont, and the city of Pleasanton, to name a few.