Almaden View Real Estate Market Conditions San Jose 95120 - photo with Mt Umunhum in backgroundThe Almaden Valley real estate market conditions are very favorable to sellers right now.

For sellers, there is a very active market, with properties taking very little time to sell – the average days on market in February was a lightning fast 12 days. This is still fast, just above two months, when you consider that this is all homes that go pending: all price points, school districts, locations…

Further, there are more pending sales as active listings, indicating that there’s plenty of demand and it’s not going to be hard to sell a well priced property.

Got a hard to sell house? This may be your market. With less inventory on the market and steady demand, this winter may be a good time to consider putting your property on the market.

Sale price to list price ratio is 104.5%, which shows just how fiery this seller’s market is.

 

Almaden Valley months of inventory

Just now I logged onto the MLS. As of today (March 10th), there are 30 houses or duet homes (not duplexes, but attached single family homes) for sale in San Jose, CA 95120, aka Almaden Valley. Of those, 21 (or 70%) are offered at under $2 million. Dividing the whole up, three are listed under $1 million, eighteen are between $1-2 million, six between $2-3 million, and three are offered over $3 million. In the last 30 days, 23 single family homes have sold & closed in the same area. When we divide the actives by the closed sales over 30 days, we get the months of inventory. So for Almaden, 30 divided by 23 = 1.30 months of inventory. That’s pretty hot and is evident of a strong seller’s market.

 

Almaden Valley Real Estate Market Conditions: Trends at a Glance

Next, a look at the residential real estate market statistics for Almaden, or San Jose 95120 from the Real Estate Report (a subscription that I have which uses closed / sold data). Inventory is down from last year, but sales are on the rise, and the sales vs list price is well up indicating a high demand. Days on market are under two weeks, which is extremely fast. Overall, market conditions are heating up at the tail end of winter!

Please find the current statistics for single family homes (houses & duet homes) from my Almaden Valley real estate report (click on link for more info).

 

Trends At a Glance Feb 2020 Previous Month Year-over-Year
Median Price $1,482,000 (-10.9%) $1,662,500 $1,700,000 (-12.8%)
Average Price $1,440,760 (-13.4%) $1,663,500 $1,678,390 (-14.2%)
No. of Sales 17 (+21.4%) 14 (+88.9%)
Pending 27 (+28.6%) 21 19 (+42.1%)
Active 18 (+20.0%) 15 29 (-37.9%)
Sale vs. List Price 104.5% (+4.2%) 100.4% 101.8% (+2.8%)
Days on Market 12 (-82.2%) 68 17 (-28.6%)
Days of Inventory 30 (-7.8%) 32 87 (-65.9%)

 

Altos Research charts for Almaden Valley real estate market, single family homes segment

The chart below shows a quick profile view of LISTED homes in Almaden (Altos does not use sold data). This will be automatically updated each week.

 

Almaden Valley Real Time Market Profile by Altos

 

The most recent update (as of March 10th) shows an active, Strong Seller’s Market. Graphs show a slight rise in inventory with a decline in price by square foot and a decrease in days on market.

 

Almaden Valley San Jose 95120 Real Estate Statistics At A Glance

 

The single family home market has been bouncing up and down a bit from month to month – still off from last year, but somewhat leveled off for this year. Still a great market for homes in good shape which are priced well.

 

Altos Research charts for houses / duets in Almaden (San Jose 95120)

Please note that Altos Research uses list prices of Almaden Valley homes for sale, not sold prices.

 

Days on market of single family homes for sale in Almaden Valley:

 

Average Days on Market DOM for San Jose, CA 95120 Almaden Valley

 

Next, the Median Price in graph form by quartiles:

 

Altos Median List Price for San Jose, CA 95120 Almaden Valley

 

Properties with price decreases in Almaden:

 

Altos Properties with Price Decreases for San Jose, CA 95120 Almaden Valley

 

Please click on the link to view the condo and townhouse market and more info on the Almaden real estate market.

 

Almaden Valley real estate market for condos and townhomes

The condo market in San Jose 95120 can sometimes look wacky, and that is usually due to a lack of listings. Frequently, there are less than 10 listings in a given month.  As with the single family home market, the condo market was at its peak last spring, and has had some pricing ups and downs since then. However, with so few sales, it’s hard to know if that is really what is happening or if it’s more a case of one month the more expensive properties were selling, and another the more entry level. We could do a study of larger condo or townhome complexes to see – and if you’re buying or selling in one of them, that would be the approach I’d suggest – but for our purposes here, this is a decent indicator of market activity and trends.

Here are the Almaden condo and townhome stats but with so few sales each month, they are not terribly relevant:

Almaden Condo Market Trends at a Glance (closed sales)

Talk about wacky numbers – no condos sold in the last 30 days in the San Jose, Almaden Valley 95120 sector (as of March 10th), but 1 townhome sold. And this is not uncommon. January had no condos and 5 townhomes sell, December had no condos and 2 townhomes sell, November had 1 condo and 3 townhomes sell. Only two units sold in October, and there were merely 1 closed sale in September, 2 in August, 2 in July, 3 May, and 1 in April. As you can see, small inventory and few sales are the norm in this sector right now. But these numbers are so small that statistically they are not very helpful – please take this data with a grain of salt. See the Almaden condo update on the RE Report site here. 

 

San Jose 95120 statistics condominium & townhouse market

Here is the chart for the condo statistics:

 

Trends At a Glance Feb 2020 Previous Month Year-over-Year
Median Price $1,181,500 (+29.8%) $910,000 $1,125,000 (+5.0%)
Average Price $1,181,500 (+13.2%) $1,043,330 $1,125,000 (+5.0%)
No. of Sales (-33.3%) 3 (0.0%)
Pending (-100.0%) 2 (-100.0%)
Active (N/A) 0 (-20.0%)
Sale vs. List Price 103.8% (+5.2%) 98.6% 99.0% (+4.7%)
Days on Market (-91.9%) 99 119 (-93.2%)
Days of Inventory 56 (N/A) 0 68 (-17.0%)

 

February had only 2 sales, so take the stats with a big grain of salt. Still, the sale to list price ratio has jumped above 100% for the first time since 2019. Sales are happening over list price on average and quickly in just over a week!

 

Condo trends via Altos Research

 

Altos Real-Time Market Profile for San Jose, CA 95120 Condos

 

The Altos graph above shows live updates for the condo market based on List Price. Listings are also few and far between, so this chart changes a lot. As of March 10th, there’s a lot of up and down, but inventory and median price per square foot are trending up. As the chart looks today, it is a Strong Seller’s Market with a dip in market action.

Live San Jose Almaden 95120 real estate market charts from Altos Research for condos and townhomes (not solds but Almaden Valley homes currently for sale)

 

Here are a few quick stats from Altos Research (which will be automatically updated weekly and to which I have a subscription) – these are based on the list price of townhouses and condominiums for sale in San Jose’s Almaden Valley 95120 area:

Below is a graph of the Condo Median Prices divided into four price tiers:

 

Altos Median List Price for Condos San Jose, CA 95120 Almaden Valley

Average days on market for condos and townhouses in Almaden:

Average Days on Market DOM for Condos in San Jose, CA 95120 Almaden Valley

 

In conclusion…
The residential real estate market in San Jose’s Almaden Valley area is a mixed market, with varying degrees of market heat depending on which segment you’re interested in.  Restricted inventory remains, in contrast to what we normally would see on a seasonal basis, stronger inventory in housing than in the condo market. Buyers are facing plenty of competition, and it’s still a seller’s market.

What impacts home values in Almaden?

The Almaden Valley real estate market conditions are impacted  by a number of factors. Some of the micro markets are based on school districts or particular schools –  homes with San Jose Unified (and Leland vs Pioneer High), those with Campbell Union High School District (Leigh or Branham High), and a sliver with Los Gatos Saratoga Union High School District (Los Gatos High). Other factors are the pricing tier, homes with a view, golf course homes, or any number of other criteria (with or without pools, single story versus two or multi level stories etc.). Almaden is fairly spread out and some areas are downright rural and remote.

It is not wise to compare properties in the the zip code but which are really mountain properties with those within a couple of blocks of schools, parks, and shopping. Whenever the whole zip code is being analyzed, it’s helpful, but it may not apply to your particular neighborhood or home (or the one you want to purchase). They will all have different “market conditions”.

Almaden Valley homes for sale – What is for sale in San Jose’s Almaden Valley area right now?

 

Please use the link to view listings of available homes for sale in Almaden.

 

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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


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