Mountain View CA real estate market trends and statistics

Mountain View real estate market trends - by Mary Pope-Handy and Clair Handy - blue house with wordsThe Mountain View CA real estate market was a strong market and continued heating up, even breaking some recent records!

Quick summary on the realty market in Mountain View, CA

  • The average sale price for houses rose annually but down 1/10 of a percent monthly (to me, “flat” pricing)
  • The median sale price is also up annually and flat month over month
  • Days on market rose a tad from 11 in April to 16 in May
  • The sales to list price ratio cooled from 113.6% in April to 108.3% – not a lot of relief for home buyers
  • The condo market is appreciating even more steeply (see data closer to the bottom of this page)

Mountain View CA real estate market trends at a glance

First let’s have a look at the Real Estate Report for residential sales data. Happily, inventory rose and so did the number of sales (pending sales were flat).

Trends At a GlanceMay 2024Previous MonthYear-over-Year
Median Price$2,750,000 (0.0%)$2,750,000$2,500,000 (+10.0%)
Average Price$2,834,310 (-0.1%)$2,838,300$2,717,800 (+4.3%)
No. of Sales34 (+25.9%)2725 (+36.0%)
Pending21 (-22.2%)2723 (-8.7%)
Active14 (-44.0%)2514 (0.0%)
Sale vs. List Price108.3% (-4.7%)113.6%107.7% (+0.5%)
Days on Market16 (+52.7%)1111 (+46.5%)
Days of Inventory12 (-54.0%)2717 (-26.5%)

 

Throughout much of the valley, we are finding that some homes sell very quickly and with strong overbids, and others languish on the market (most often that happens if they are overpriced, but it could be other issues, too).

Mountain View CA real estate market trends and data by neighborhood or district

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Willow Glen real estate market in San Jose

Willow Glen real estate market is a strong seller's market. This Willow Glen sign is from the downtown business district.The Willow Glen real estate market in San Jose remains a strong seller’s market.

  • Average and median home prices are up monthly and yearly.
  • Homes are selling in 11 days on average – super hot.
  • The sale to list price rose again to 108% in April (up from106.7% in March)

The best priced homes with no location or condition issues continue to sell quickly and with multiple offers and overbids.

Willow Glen Real Estate Market Trends: Single Family Homes

Willow Glen home prices are up double digits from a year ago, but down a little from the month before. Inventory is rising, but so is the sale to list price ratio.  Buyers are not getting any relief yet, and sellers continue to see sold sales prices for their properties.

Click for the complete Willow Glen real estate report:

Trends At a GlanceMay 2024Previous MonthYear-over-Year
Median Price$2,100,000 (-4.3%)$2,195,000$1,727,500 (+21.6%)
Average Price$2,226,050 (-2.7%)$2,287,280$1,947,130 (+14.3%)
No. of Sales54 (+50.0%)3654 (0.0%)
Pending47 (+34.3%)3538 (+23.7%)
Active45 (+12.5%)4030 (+50.0%)
Sale vs. List Price108.5% (+0.4%)108.0%104.1% (+4.3%)
Days on Market14 (+28.2%)1117 (-16.3%)
Days of Inventory25 (-22.4%)3217 (+50.0%)

 

and a month earlier:

 

Trends At a GlanceApr 2024Previous MonthYear-over-Year
Median Price$2,195,000 (+9.2%)$2,010,000$1,975,000 (+11.1%)
Average Price$2,287,280 (+2.8%)$2,223,900$2,192,020 (+4.3%)
No. of Sales36 (-2.7%)3731 (+16.1%)
Pending35 (+9.4%)3238 (-7.9%)
Active40 (+53.8%)2648 (-16.7%)
Sale vs. List Price108.0% (+1.3%)106.7%103.3% (+4.6%)
Days on Market11 (-38.7%)1814 (-22.6%)
Days of Inventory32 (+52.8%)2145 (-28.2%)

 

 

Below please find a market profile and then a couple of charts for the Willow Glen real estate market for houses and duet homes (attached single family homes – not duplexes), care of Altos Research, to which I have a subscription. Altos uses list prices, not sold prices. The data is automatically updated each week, so please bookmark this post and come back often!


Data from Altos Research for Willow Glen Real Estate Market Trends – San Jose 95125

In the latest update, Altos says single family homes are in a strong seller’s market with rising market action, and a decrease in much needed, perpetually low inventory. As of today, 35% have taken price reductions.

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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 in a strong seller’s market that continues to outstrip this time last year. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few details from the latest update on Campbell’s single family housing market:

  • Inventory is growing inch by inch with 18 active listings at the end of May, still just a drop in the bucket! Smaller pools of data can cause more dramatic swings in these statistics, so take these numbers with a grain of salt.
  • The average sales to list price ratio for homes sold last month grew to 111.0% of asking – that’s red hot, and up +4.0% from this time last year.
  • Average and median sales prices are up +9.3% and +9.1% from last year respectively, and dropped -6.9% and -12.8% from the month before.
  • Average time on market sped to just 10 days while market absorption sped to 19 days.
  • Closed sales continued to rise above last month and last year despite lower available inventory year-over-year.

The market in this popular west valley city is red hot overall!

The Campbell, CA Real Estate Market

It’s hard to predict what’s coming next, especially since Silicon Valley real estate is connected to the global economy and many buyers rely on stocks and mortgage loans to finance their purchase. On top of that, we’re emerging from an already wild few years!

If you’re selling a well prepared, beautifully staged, and aggressively priced house, you’ll likely see multiple offers on your home for sale. We’ve been seeing more bidding wars, but not with overbids quite as high as last spring. Competition for homes has undoubtebly waned from it’s peak as buyers financial power shrank with rising interest rates. That said, with even fewer homes being listed this year there’s still far more demand than there is inventory, especially for a move-in ready home!

Desperate and worn out buyers want to get their foot in the door before they are priced out of the market altogether by either climbing interest rates or rising home prices.

Don’t expect a balanced market any time soon – the Bay Area still has a severe housing shortage and buyers are clamoring to get property!

Here’s a quick view of the Campbell real estate market stats from Altos Research, using list prices (not sales price) which updates automatically about once per week:

 

Campbell Altos Real-Time Market Profile

The Altos chart is showing Campbell, CA single family homes in a strong seller’s market with stable, elevated market action paired with perpetually low inventory. Available listings remain well below typical, and these few homes continue to sell quickly.

And now –  here are some quick stats, pulled from the MLS (Multiple Listing Service) through the RE Report:

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Sunnyvale real estate market trends & statistics

The Sunnyvale real estate market, remains an incredibly hot seller’s market.

Sunnyvale real estate market trends and stats at a glance

Here is a quick rundown of the trends at a glance for the Sunnyvale real estate market, with more in the charts below:

  • The average and median sale price of Sunnyvale homes rose double digits annually, but slipped a little monthly
  • Inventory rose from last month by a count of one, but is off 24 %+ compared to a year ago
  • Pending sales are down monthly and annually
  • The sale to list price slipped from 117.5% to 114.4%
  • The very slight cooling may be seasonality at play

PLEASE visit our ReReport page for data here, throughout Santa Clara County, and also for San Mateo and Santa Cruz Counties.

(If you’re viewing this on a mobile phone, swipe horizontally to see the full chart if it goes off the screen.)

Trends at a Glance

Trends At a GlanceMay 2024Previous MonthYear-over-Year
Median Price$2,610,000 (-4.4%)$2,731,470$2,307,500 (+13.1%)
Average Price$2,570,370 (-3.0%)$2,650,120$2,277,430 (+12.9%)
No. of Sales57 (+29.5%)4456 (+1.8%)
Pending41 (-4.7%)4349 (-16.3%)
Active25 (+4.2%)2433 (-24.2%)
Sale vs. List Price114.4% (-2.6%)117.5%107.9% (+6.0%)
Days on Market(-21.4%)1012 (-32.9%)
Days of Inventory13 (-16.8%)1618 (-25.6%)

 

You may also want to see how Sunnyvale stacks up to other communities in Santa Clara County. If so, click to see the PDF Real Estate Report for Santa Clara County, updated monthly.

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The Cambrian Park Real Estate Market Update

Cambrian Park Real Estate Market graphicThe Cambrian Park real estate market remains a strong seller’s market with prices continuing to rise.

For those new to the area, Cambrian is most of the 95124 zip code (south of Foxworthy) and most of 95118 (west of Almaden Expressway). It borders Los Gatos, Campbell, Willow Glen, and Blossom Valley.

The Cambrian Park Real Estate Market

The chart below is from our subscription to the RE Report. These numbers often line up closely with the ones that I pull directly from the MLS, but they are almost never exactly the same.  Many indicators show a market which is more and more challenging for buyers. The sale to list price ratio (well over 110%) came down just a little, though.

Trends At a GlanceMay 2024Previous MonthYear-over-Year
Median Price$1,938,000 (+1.7%)$1,905,000$1,676,000 (+15.6%)
Average Price$2,019,380 (+2.7%)$1,965,730$1,778,530 (+13.5%)
No. of Sales61 (+24.5%)4944 (+38.6%)
Pending34 (-22.7%)4448 (-29.2%)
Active32 (0.0%)3224 (+33.3%)
Sale vs. List Price111.8% (-1.8%)113.8%107.5% (+4.0%)
Days on Market(-3.3%)913 (-37.9%)
Days of Inventory16 (-16.9%)1916 (-3.8%)

 

The Cambrian market continues heating up. Check out the average sale price by month, including the partial month of June (so far).

 

Cambrian SFH Average sale price - Cambrian Park real estate market - San Jose

 

If this continues in May, it will be one of the highest priced months ever (second only to April 2022). Cambrian has a lot of enduring value that makes home buyers decide that it’s worth fighting to get a foothold there.

 

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Milpitas real estate market

Milpitas Real Estate MarketThe Milpitas real estate market has shown some more up and down into late spring and overall remains a strong seller’s market.

Here are a few points from the latest update to the Milpitas single family homes market, with more data and analysis in the article below:

  • 15 single family homes closed in May. That’s a little over half the closed sales from April, a tiny pool for data!!
  • Compared to this time last year, the average sale to list price ratio rose +0.4% higher, averaging a jaw dropping 110.5% in May (a rise of +0.6% from April).
  • The average single family home price in May was $1,705,130 (+0.8% from the month before, and up +14.4% from a year ago)
  • The median sale price rose to $1,650,000 (+3.0% from the month before, and up +11.3% from last year)
  • Listings averaged just 13 days on market, nearly double the month before and slower than this time last year.
  • Closed sales plummetted from the month prior, while active inventory slipped just a hair, and pending sales shot up.

While it’s unclear how much of the ups and downs we’re seeing in the sales data are representative of any market changes, what is clear is that it’s red hot with extremely high demand in Milpitas’ single family housing market! Often either March or April are the spring peak for prices, so this doesn’t come as a surprise. Unless inventory grows dramatically buyers will continue to struggle with the severe housing shortage and the market will remain red hot for sellers.

The Milpitas Real Estate Market

Milpitas is perpetually attractive for home buyers as the location is convenient and offers good schools. Many areas are close to the hills and enjoy scenic views, too.

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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Cupertino Real Estate Market Trends and Statistics

Cupertino real estate market will be more expensive for view homes in nearly all cases -image taken from Ridge VineyardsHow’s the Cupertino real estate market? The Spring market is underway and the market is hot. The best homes are getting multiple offers and high overbids. Prices are up from last year, though down from last month. Some of this may be seasonality.

Our inventory has been extremely constricted, so it looks like these market conditions will persist for the near future, at the very least.

Cupertino Real Estate market – Closed Sales and Trends at a Glance

Here are the most recent real estate statistics, via our Cupertino Real Estate Report. The market is HOT! It has cooled just slightly from the month before, but not enough to bring any relief to weary home buyers.

(If you’re viewing the chart below on a mobile device, please swipe horizontally to see all columns.)

 

Trends At a GlanceMay 2024Previous MonthYear-over-Year
Median Price$3,410,000 (-1.2%)$3,450,000$2,802,000 (+21.7%)
Average Price$3,278,860 (-7.1%)$3,529,810$2,747,450 (+19.3%)
No. of Sales22 (-33.3%)3322 (0.0%)
Pending24 (+60.0%)1517 (+41.2%)
Active17 (0.0%)1717 (0.0%)
Sale vs. List Price109.4% (-1.2%)110.8%104.0% (+5.2%)
Days on Market11 (+7.0%)1020 (-44.9%)
Days of Inventory23 (+55.2%)1523 (0.0%)

 

Prices are up annually, but off monthly. The market remains hot, though, as several data points underscore.

Next, the Cupertino real estate market via the Altos Research weekly charts (they use LIST prices, not sale prices):

 

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The San Jose Real Estate Market Analysis

San Jose Real Estate MarketThe San Jose real estate market remains in a red hot seller’s market through mid-spring!

First, some quick data from my RE Report and hand-pulled from the MLS today. There appears to be a small amount of under- or over-counting between the RE Report and MLS Listings, so numbers vary slightly between the two, but the data is still useful for trend tracking.

  • The April 2024 sale price to list price ratio for San Jose single family homes rose to 111.2% of asking, that’s +1.0% from last month per the RE Report and +5.5% from this time 2023. For the MLS stats we pulled today, it shows 111.1% average, up from 109.5% (+1.6%) the month prior. Either way, the average home is selling consistently over list price in San Jose, and heating up fast towards spring.
  • Home values for single family properties are up from this time last year by approximately 10% – 18%, and month-over-month closed sales prices rose by around 1% – 4% (RE Report, average and median prices).
  • The time on market sped up month-over-month to a 11 day average (RE Report).

Market Data: What Numbers Make a Difference

While we aren’t seeing the same market acceleration as we did at the peak, in some ways this market has been even more challenging for buyers. For most buyers, their ability to purchase has been severely impacted by higher rates on home loans and the changing insurance market. But the biggest hurdle for most buyers is the extreme and persistent lack of available homes!

Since March 2023 San Jose has frequently had record breaking low inventory, often marking new lows with the fewest available listings by month in over a decade. And it doesn’t look like inventory will really pick up any time soon, either.

Why such low inventory?

While in a more typical market we might have a number of sellers looking to “move up” or downsize, most homeowners today couldn’t afford to move or don’t want to take on a higher-rate mortgage. Now it seems like a higher percentage of the listings we are seeing comes from investors, people leaving the area, and sales by family after a death – cases where there is no pressure to repurchase or where selling is the only option. One exception we’re starting to see is homeowners with adjustable rate mortgages who don’t have the same low rate incentive to hold on to their current home. Still, that limits significantly what is available to buyers!

Although inventory remains at record-breaking lows with higher demand than availability, sale prices and overbids are not necessarily breaking records like last year’s spring peak. Many buyers are experiencing significantly more pressure from higher interest rates, fluctuating stocks, looming layoffs, and other factors limiting purchase power and lowering confidence. That said, not every home will face the same challenges – there are loads of micro markets that influence how well any given home does, and decent homes that are marketed appropriately still regularly become bidding wars for driven buyers. All said, take this city-wide data with a grain of salt.

 

Inventory - San Jose CA listings of houses / Single Family Homes for sale

 

Inventory remains severely low – currently showing the lowest April inventory over more than a decade! If you’re an active home buyer, it is slim pickings!

The data below in the “trends” chart is from our Real Estate Report for the City of San Jose.

San Jose Real Estate Market Trends at a Glance (RE Report)

 

Trends At a GlanceApr 2024Previous MonthYear-over-Year
Median Price$1,778,000 (+3.7%)$1,715,000$1,512,000 (+17.6%)
Average Price$1,852,680 (+1.1%)$1,832,510$1,670,450 (+10.9%)
No. of Sales349 (+17.5%)297273 (+27.8%)
Pending338 (+14.2%)296272 (+24.3%)
Active250 (+52.4%)164269 (-7.1%)
Sale vs. List Price111.2% (+1.0%)110.1%105.4% (+5.5%)
Days on Market11 (-24.7%)1420 (-46.6%)
Days of Inventory21 (+25.4%)1729 (-27.3%)

 

Available inventory is slightly less than where it was this time last year, while pending and closed sales have risen well above 2023 numbers. Demand is extremely high! The chart clearly shows a strong seller’s market that’s heating up through April. Keep reading below for more data and market analysis.

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When are property taxes due in Santa Clara County?

When are property taxes due? The tax bill will have the dates, and the postcard has the assessed value of the property.When are property taxes due in Santa Clara County?  The schedule for when property taxes are due in Santa Clara County is not intuitive and confuses most people, at least initially.  The tax calendar is as follows:

  • Beginning of fiscal year: July 1st
  • First installment of taxes due covers July 1 – December 31st
  • Second installment of taxes due covers Jan 1 – June 30

Although you might expect the two bills to be due & payable 6 months apart, that’s not how it works!

Installment # 1 is due November 1 and is delinquent December 10th

Installment # 2 is due February 1 and is delinquent April 10th

Don’t confuse the income tax deadline with the property taxes due date

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Cambrian Park: Good Schools, Low Crime, Close to Los Gatos and Campbell

Cambrian Park, or more broadly, Cambrian, is a west San Jose neighborhood or district and is one of the high-value areas in Silicon Valley. The schools are good, the crime is low, and the commute is not too bad.

Cambrian Park Plaza signFor people relocating to Santa Clara County, this is a place to know about since quality education and affordability are often high priorities! Most Silicon Valley home buyers would say that Cambrian Park real estate offers a very good value.

What’s the compromise for the more reasonable prices of homes for sale? Well, Cambrian doesn’t have an interesting, upscale downtown area like Campbell, Los Gatos, Saratoga, or Willow Glen. (It may, when the Cambrian Park Plaza redevelopment takes place.)

But it does have tons of shopping & restaurants and even a Farmer’s Market. It also enjoys a top notch hospital (Good Samaritan) and plenty of parks as well as a fantastic rec center with a large park adjacent to it, the Camden Community Center, which has loads of programs (including an after school program for youth), classes, and a fabulous pool.

Altogether, there are about 75,000 to 80,000 residents in Cambrian, spread throughout part of two zip codes, part of 95124 and some of 95118.

If there is a “central Cambrian Park”, it would have to be near the original Cambrian Park Shopping Center, which was the first actual mall in San Jose! That area is sometimes known as Cambrian Village.  People sometimes use the three names interchangeably: Cambrian, Cambrian Park, Cambrian Village.

 

Where is Cambrian Park? Map of approximate Cambrian Boundaries:

 


View Cambrian Area of San Jose in a larger map

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