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Parker Ranch neighborhood

The Parker Ranch neighborhood is found in the low western foothills of Saratoga along the Cupertino border, making it a fantastic commute location for many high tech workers.  With larger homes and lots, it’s easy to stretch out!   The rolling hills make a pleasant vista, or, if you’re in a higher elevation provide beautiful valley views.  The Parker Ranch subdivision boasts highly acclaimed Cupertino schools.  There are many reasons why this is a much beloved area of Saratoga.

Parker Ranch neighborhood home - 1 - 2021

There are just shy of 80 houses and luxury homes in Parker Ranch, so it’s not a hugely populous area, but it is fairly large.  Here are a few quick facts on this scenic subdivision:

  • Range of home size:  2,797-7,500 SF
  • Average SF:  4,517 SF
  • Range of lot size:  22,000-146,361 SF
  • Average Lot:  70,786 SF
  • Years Built:  1900-2013, lots of development in the 1980s

Side note for history buffs: this land was once owned by Painless Parker, the famous – or infamous – dentist. Click on the link to learn more!

What do homes cost in the Parker Ranch area?

Because there’s an incredible variety in home and lot size, as well as age and condition, it’s not easy to pinpoint the likely price of the neighborhood.  However, as a very broad rule, most homes will currently sell north of $3.5 million. (more…)

Los Gatos Real Estate Market Trends and Statistics

Leo or Leona - the mascot of Los GatosThe Los Gatos real estate market shows a clear seller’s market with summer cooling after ramping up to extremes in spring. Once again the “in-town” (95030) zip code is less active for single family home sales than the 95032 zip code which continues to be in high demand. Here are a few quick points from the Los Gatos single family home market detailed below:

  • Closed sales continue to shrink, but pending sales remain well above last year’s market.
  • Most properties are taking less than a month to sell, averaging 20 days on market.
  • The sale to list price ratio cooled back to a still hot 105.4% of asking.

However a lot has changed since March 2020. We can see some of the result of the pandemic on local real estate markets in these monthly analyses, but it will take a while before we can get the full picture. For more on how Covid-19 was impacting our local real estate market, please check my post titled Coronavirus Impact on Real Estate Sales.

During the shutdown so far, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory from those months indicated. Current numbers are accurate.

This post will include info from both Altos Research, which uses LIST prices, and the RE Report, which uses listing and closed sale data, for the “in town” areas of Los Gatos (95030 and 95032).

From ALTOS – a view of LG 95030 (these are updated automatically a few times a month):

Altos Real-Time Market Profile Los Gatos, CA SFH 95030

And 95032:

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The San Jose Real Estate Market Analysis

San Jose - Valley View 2019-1-20 - for the San Jose real estate marketThe San Jose real estate market is a strong seller’s market, and it has been for months. Available inventory remains unbelievably low and can’t keep up with the high demand. This article is updated monthly with the latest market data. Here’s a sample of the latest for San Jose’s single family housing market:

  • The August 2021 market was distinctly hotter than the year before.
  • San Jose homes consistently took an average of only 12 days to sell.
  • The average sale to list price ratio was a red hot 108.8%.

Last year the spring market experienced mild unseasonable cooling, but from the summer of 2020 on it’s been heating up in San Jose. Early winter saw a hint of seasonal cooling, but by mid-winter it was heating right back up again! Finally, after a hyper-competitive spring, summer 2021 finally experienced some slight market cooling. This is shown in the San Jose housing market data below, and I’ve also experienced it in my own real estate practice.

These charts will not reflect the full effect of the pandemic on the market. It will take a while before we see the full picture on how it impacted realty, but for now you can read about the Coronavirus’ impact on real estate sales on my other post.

Early on in the shutdown, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th of 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory. Current numbers are accurate, but disregard this data for those previous months.

First please find the Altos Research Charts, a live feed of data on the housing markets in San Jose. You will then also find the RE Report, charts with statistics comparing sales in the last month and comparing them month-over-month and year-over-year. These are both the usual tools I use to gauge a market. Directly below are links to the market analysis of specific neighborhoods in San Jose. Some of these, where I work the most, are updated monthly, and others are updated every few months.

Altos Charts for the San Jose real estate market as a Whole – automatically updated each week – single family homes

First, the market profile and then the basic charts for single family homes or houses in San Jose. FYI, Altos uses LIST prices. The RE Report further down uses SOLD prices (which is part of the reason why I utilize both).

This real time market San Jose housing market profile (updated September 21st) shows steady low inventory, short days on market, and high market action with a recent decline. San Jose is in a strong seller’s market and holding, according to Altos! The Median List Price (for condos and houses combined) is usually stable around $1,250,000, though it has been getting nearer and nearer to $1.3 mil since last year and, around the spring peak was sticking close to $1.35!

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Updating the Campbell Real Estate Market

Tudor style house on graphic that says - How's the Campbell real estate market?How is the Campbell real estate market? Campbell is still in a strong seller’s market with signs it’s coming out of peak spring activity. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few points from the latest update on Campbell’s single family housing market:

  • The sales to list price ratio for home sales last month dipped, but is red hot at 106.7%.
  • Turnover was extremely fast with an average sale in 19 days on market.
  • The data shows some ups and downs from the month before, but it’s still a scorching hot market compared to past years!

The Campbell, CA Real Estate Market

It’s hard to predict what’s coming next with all that’s happened since spring of 2020. The charts below certainly show the impact of the pandemic on the real estate market, but it will take a while to see the full picture. To read more about the Coronavirus impact on real estate sales, check my blog post on the topic.

At the beginning of the shutdown, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory in those months, though current numbers are now accurate.

If you’re selling, perhaps last summer you’d have gotten 4 – 6 offers on your well prepared, beautifully staged, and aggressively priced home for sale. Recently, we’ve seen those numbers again (and sometimes many more!) in the 2021 market with a long (and growing) backlog of demand. Competition is high enough that we aren’t seeing many buyers with normal contingencies. This summer we can reasonably anticipate a decline in activity from a spring peak, but the real estate market will probably remain hot throughout the year. We’ll just have to wait and see!

Here’s a quick view of the Campbell real estate market stats from Altos Research, using LIST prices:

Campbell Altos Real-Time Market Profile

As of September 16th the Altos chart showing Campbell, CA single family homes is in a strong seller’s market with stable market action, low inventory, and an extremely fast median days on market. Homes are still hot in Campbell!

And now –  here are some quick stats, care of my RE Report for Campbell:

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The Monte Sereno Real Estate Market

The Monte Sereno real estate market is similar to Los Gatos, but distinct - Monte Sereno shares many features with Los Gatos but is a distinct cityHow is the Monte Sereno real estate market? Because the city is small, with just about 4,000 residents, there usually are few homes listed for sale or selling, and with small numbers we can get seeming volatility. This article is updated monthly with new data and analysis, so scroll down to read the latest and check back regularly. Here are a few details from the latest market update:

  • Monte Sereno is currently in a strong seller’s market with some possible signs of summer cooling.
  • August sales data was skewed by some exceptional luxury home sales, more on that below.
  • Prolonged low inventory can’t keep up with demand, but may be aided by the new development around Austin Corners, Montalvo Oaks, which is slowly placing lots on the market.

Though we’ve seen plenty of changes to the market since March 2020, we won’t know the full impact until it’s behind us. For now you can read more about the Coronavirus impact on real estate sales in my post on the topic.

Early on in the shutdown, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory. So while current data is accurate, please disregard any DOM data for the dates mentioned above.

There are no condominiums or townhomes in Monte Sereno at present (although we are watching the development at La Rinconada closely). One of the major challenges for this city is to ensure that at least some housing units are deemed “affordable.” You can find the city’s housing plan here (an online pdf):  http://www.montesereno.org/DocumentCenter/Home/View/674

Below is a quick market profile for Monte Sereno. This is updated automatically weekly, so please check back often.

Monte Sereno Altos Real-Time Market Profile

As of the latest update, September 15th, Monte Sereno is in a slight seller’s advantage after recent dips in market action. Unlike other areas, this area didn’t experience the same cooling last spring as the rest of the valley, but continued to heat up through most of 2020. Winter of 2021 finally saw a cooling trend in this area. Still, Monte Sereno has very few active listings, so the data for this chart can have large swings in data due to one or two outstanding properties.

Altos Research does weekly reports, to which I subscribe. You can see the full weekly report for Monte Sereno HERE and you can click the subscribe button there if you’d like to get it weekly (or navigate to another zip code or city and subscribe to that). Here’s the data on home descriptions per price quartile in the report, updated automatically throughout the month:

Median List Price for Monte Sereno By Altos

Prices are declining again after hitting a peak around April 2021. Spring of 2021 beat previous highs from the two prior springs, reaching prices that haven’t been seen since 2018. Seasonally typical cooling appears in the 2021 chart, and while prices remain high compared to 2019 they have fallen below 2020. That is mostly due to last year’s delayed spring activity. Early pandemic cooling is clearly visible in these charts, as is the resulting summer rise. Remember, low inventory and fewer sales mean greater swings in data.

Stats for recently closed home sales in Monte Sereno

Here are the quick statistics for the closed sales in the last complete month to give a sense of how things are going with the Monte Sereno real estate market. Sales data comes from my Monte Sereno Real Estate Report. Given that the supply of homes to study is tiny, what can we tell from this data?

It’s true that an average Monte Sereno house is about $2.5-3.5 million, and often higher – a little steep for most folks!

Monte Sereno Real Estate Market Trends at a Glance:

This August had some wild swings! Small pools of data in this diverse market can shift the numbers very drastically very quickly, so it’s important to take this table with a grain of salt.

This month, data is based on only 6 closed sales, which is not uncommon in this community. The sale vs list price ratio plunged to 100.7% of asking, and days on market slowed significantly to 61 days. Meanwhile prices skyrocketed from the month before and well above last year! Active inventory grew month-over-month, much higher than last year.

The Monte Sereno housing market continues to have steady activity and remains in a seller’s market with regular demand.

Trends At a Glance Aug 2021 Previous Month Year-over-Year
Median Price $4,990,000 (+24.8%) $4,000,000 $4,245,000 (+17.6%)
Average Price $5,255,830 (+29.7%) $4,053,000 $4,242,500 (+23.9%)
No. of Sales (+20.0%) 5 (-25.0%)
Pending (-44.4%) 9 (+25.0%)
Active 12 (+33.3%) 9 (+71.4%)
Sale vs. List Price 100.7% (-5.4%) 106.5% 97.6% (+3.2%)
Days on Market 61 (+548.9%) 9 35 (+74.3%)
Days of Inventory 60 (+11.1%) 54 26 (+128.6%)

Those are some pretty dramatic shifts! So what happened? Well, today (September 15th) the MLS shows 8 properties sold in August. Of those sales, one stands out from the rest, a luxury property that sold at $7.8 million dollars, $699K under list, after 301 days on market. Remove this from the equation, and the other 7 sales paints a different picture: properties sold in 10 days on average at 104.7% of asking, and the average sale price was closer to $4.5 million. That’s a much stronger seller’s market! So take this chart with a grain of salt.

Because so few  houses sell per month, things like pricing can appear to jump around when that’s not actually the case. The Monte Sereno home prices tend to be a little higher but generally follow the Los Gatos trends, so it’s worth while to view this info also to get a more balanced sense of how things are for real estate in Monte Sereno. Also, for those considering buying or selling, it’s important to look at the actual listings for each and every sale with similar features, size, amenities to get a sense of your home’s particular subset of the market. Next, let’s look at the live charts from Altos to see how active listings reflect the market.

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Morgan Hill real estate market

Morgan Hill land along the Uvas RiverHow is the Morgan Hill real estate market? This article will include data, trends and statistics for both houses/single family homes and condominiums/townhouses (in the second half of the article). Here’s a bit of what you’ll find in the latest monthly update for Morgan Hill’s single family housing market:

  • August remained a red hot seller’s market, more competitive than last year despite fewer sales and available listings.
  • The sales to list price ratio for homes rose to 106.5% of asking.
  • Homes sold in an average of 23 days, a quick turnover, but slower than spring.

The Morgan Hill Real Estate Market

If you’re looking to learn more about Coronavirus’ impact on real estate sales, please check my post on that subject. This month’s data gives us only a small window into the changes the pandemic has had on the market.

At the start of the pandemic here in Silicon Valley, the Multiple Listing Service (MLS) paused the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory. This will not affect current numbers, but will affect those previous months data.

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 if most of the Silicon Valley has a sale price to list price ratio of anywhere from 100% to 105%, it’s generally lower here, making the home buying conditions calmer for weary buyers, though still a sellers market.

First up, the market profile from Altos Research – this is updated weekly, so check back often! You can also view the weekly newsletter through the link below, where you can also subscribe to receive this update every week in your inbox. Prefer a particular zip code instead? You can type in your desired zip in the “Search Anywhere” line and then request that particular weekly update by email.

Altos Research weekly report for all of Morgan Hill

Altos weekly report for 95037 only

Altos weekly report for 95038 only

Morgan Hill Real-Time Market Profile

The latest Altos update (September 16th) shows a shrinking inventory, slowing days on market, and a decline in market action. The current market remains in a strong seller’s market.

Trends at a Glance for Single Family Homes in Morgan Hill

Below is a chart with basic info, to see more click on this link to see the Real Estate Report for Morgan Hill. This August remained extremely active with some ups and downs month-over-month. Closed sales shrank, pending sales held stable, and active inventory plunged from the month before. Compared to last year, closed sales, pending sales, and active inventory all fell behind. That said, this time last year the market was rebounding from a low point brought on by the initial pandemic lockdown. Homes continue to sell more quickly than a year ago, and the sales to list price ratio rose above last month and last year. It’s an active seller’s market with high demand competing for a tiny pool of available homes.

Trends At a Glance Aug 2021 Previous Month Year-over-Year
Median Price $1,325,250 (-2.9%) $1,365,000 $1,195,000 (+10.9%)
Average Price $1,461,340 (-3.8%) $1,519,610 $1,206,820 (+21.1%)
No. of Sales 46 (-14.8%) 54 64 (-28.1%)
Pending 54 (+1.9%) 53 61 (-11.5%)
Active 38 (-20.8%) 48 47 (-19.1%)
Sale vs. List Price 106.5% (+0.5%) 105.9% 101.9% (+4.5%)
Days on Market 23 (+72.7%) 13 27 (-13.8%)
Days of Inventory 25 (-7.1%) 27 22 (+12.5%)

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Milpitas real estate market

Graphic: House and yard with words Milpitas Real Estate MarketThe Milpitas real estate market has been one hot seller’s market in Santa Clara County! Altos Research has called it a strong seller’s market for many months now, and it just keeps getting hotter! Here are a few more points from the latest update to the Milpitas single family homes market, with more data and analysis in the article below:

  • August’s sales shrank and active inventory grew a hair month-over-month.
  • Homes are regularly bid well over list price with sales averaging at 106.8% of asking!
  • The average Milpitas home is taking around 3 weeks to sell, and often less.

The Milpitas Real Estate Market

Despite unusual circumstance last year, Milpitas has maintained a favorable market for the well-prepared seller, though certainly not a typical market. This is in keeping with trends we are seeing throughout the San Francisco Bay Area and Silicon Valley: well priced homes are selling over list price, and usually above peak pricing from spring 2018! That said, sellers don’t be tempted to list your home too high. Price it appropriately to today’s market and you will have more interested buyers willing to compete for your home, perhaps even starting a bidding war!

A lot has changed since March 2020. Over time we’re beginning to get a clearer view of how covid-19 is affecting the market, but it will be a while before we know the full impact of the pandemic on real estate sales. For now, follow the latest market trends in this article and check out my post: Coronavirus impact on real estate sales, to learn more about pandemic restrictions on our local market.

During the initial shutdown, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory. So disregard those previous months data, but current numbers are accurate.

So let’s look at some data. First up, the Altos charts using list price and active listings. It is updated automatically on a weekly basis, so check back often:

Altos Real-Time Market Profile, Milpitas

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