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Los Gatos Real Estate Market Trends and Statistics

Leo or Leona - the mascot of Los GatosThe Los Gatos real estate market trends are leaning heavily in the sellers’ favor.

  • The median sale price was $3,312,500, up 17.3% from the month before, and up 19.3% from Dec 2020
  • The average sale price climbed to $3,992,230, a rise of 26.6% from November and 38.5% from a year ago
  • The sale to list price ratio cooled to a still hot 106.4% of asking.
  • Days on market are 30, and days of inventory a brisk 12.

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

The San Jose real estate market is intensifying as a deep seller’s market. Some areas are hotter than others, but every area has risen by double digits at a minimum. The Santa Teresa real estate market saw appreciation of over 29% in the last 12 months. Evergreen was closer to 20%. Willow Glen was more like 14% (surprising, given the proximity to the upcoming Google Village). Beyond San Jose’s borders, the Los Altos real estate market has risen about 30% over the last year, too!

This data is from my RE Report. There appears to be either an undercount on RE Report or an overcount on MLS Listings (inventory was 130 on MLS Listings but 80 on RE Report – pretty substantial). I’ll post MLS stats that I have pulled directly myself also.

  • The December 2021 sale price to list price ratio was at 112.3%, which is highly unusual for December.
  • San Jose homes are selling faster than they can come on the market:  available houses were just 199 (on the last day of November), there were 426 homes under contract, and there were 527 closed sales. When you hear that “sales are down”, it is ONLY because inventory is down!
  • The days on market inched up from 14 days in October to 15 in November (the same as a year ago).

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

Trends at a Glance from the RE Report

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $1,480,000 (+0.7%) $1,470,000 $1,227,500 (+20.6%)
Average Price $1,622,930 (+2.5%) $1,583,800 $1,316,240 (+23.3%)
No. of Sales 345 (-20.3%) 433 446 (-22.6%)
Pending 431 (-22.1%) 553 381 (+13.1%)
Active 88 (-36.7%) 139 165 (-46.7%)
Sale vs. List Price 112.3% (+2.0%) 110.0% 104.1% (+7.9%)
Days on Market 14 (-11.9%) 15 16 (-16.3%)
Days of Inventory (-17.8%) 9 11 (-31.1%)

 

Next, the San Jose real estate market info that I pulled from the MLS this afternoon. (The display is 700 pixels, but the actual size is a bit larger, so click to see a slightly bigger view.)

Inventory levels for houses for sale in the city of San Jose. December was less than half of what it was a year ago. I wondered how it’s shaping up halfway through January and have found it to be about half of last year. We should see a little more come on between now and January 31.

San Jose Inventory - single family homes Jan 2012 through part of Jan 2022

More charts to follow – keep reading!
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Mountain View CA real estate market trends and statistics

Mountain View CA real estate market trends and statistics on Mary Pope-Handy's Valley of Heart's Delight blogMountain View’s real estate market is experiencing an astoundingly strong autumn with a prolonged seller’s market that just keeps getting hotter! Here’s a glance at some of what we’re seeing in the single family home market below:

  • Inventory in December 2021 was 8. In December 2020 it was 17.
  • Days on market average just 16
  • The sales to list price ratio averaged an unbelievably hot 115.6% of asking! (13% more than a year ago)

The Mountain View Real Estate Market

How’s the Mountain View CA real estate market? This is one of the hottest areas within Silicon Valley and is home to a myriad of high tech companies and is a stone’s throw from others. With a charming and walk-able downtown, easy access to CalTrain, and a vibrant atmosphere conducive to both work and play, it is no wonder that people relocating to the San Francisco Bay Area or Silicon Valley place Mountain View squarely in their target. (Also popular are adjacent municipalities: Sunnyvale, Cupertino, Los Altos, and Palo Alto.)

Overview of the city of Mountain View’s residential real estate market for houses:

Inventory is low and demand is high.  We are not seeing the winter cooling of the market that prevails most years.

Trends at a Glance

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $2,657,000 (+6.3%) $2,500,000 $2,295,000 (+15.8%)
Average Price $2,831,780 (+4.2%) $2,717,260 $2,339,830 (+21.0%)
No. of Sales 18 (-33.3%) 27 36 (-50.0%)
Pending 28 (-22.2%) 36 28 (0.0%)
Active (-20.0%) 10 17 (-52.9%)
Sale vs. List Price 115.6% (+0.7%) 114.8% 102.3% (+13.0%)
Days on Market 16 (+47.5%) 11 22 (-25.2%)
Days of Inventory 13 (+24.1%) 11 14 (-5.9%)

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The real estate market in San Jose’s Blossom Valley area

Pan of Santa Teresa and Blossom Valley

Pan of Santa Teresa and Blossom Valley

Blossom Valley real estate heating up again, and remains a red hot seller’s market. Active inventory is shrinking and the best properties (homes in good shape which are priced aggressively) are selling quickly and regularly above list price in this red hot seller’s market. It can vary based on price point, schools, zip codes, etc., but the entire area is in high demand! This article contains the latest monthly updates for the residential real estate market in San Jose’s Blossom Valley area. A few points from the single family housing market this month include:

  • Sales continued to outstrip available inventory in November with fierce competition compared to last year.
  • The average listing took only 10 days, around a week and a half, to sell.
  • Overbids ran high with sales happening at an average of 111.0% of asking!

About Blossom Valley

The Blossom Valley area of San Jose is on the south end of the city and covers the 95123 and 95136 zip codes. For our MLS, it’s “area 12.” A more affordable section of Silicon Valley, Blossom Valley has much to offer in addition to more reasonable housing prices. Many areas enjoy views of the Santa Teresa Foothills or the Communications Hill knolls or even the coastal foothills in the distance, as with the photo above. One corner of it sits alongside beautiful Almaden Lake, too. Another corner is located at the crossroads of Highways 85 and 87, making it an easy commute destination for those working in downtown San Jose. And there’s an abundance of shopping and dining opportunities.

95123 real estate market trends, automatically updated weekly:

Blossom Valley Real-Time Market Profile by Altos Research

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Sunnyvale real estate market trends & statistics

The Sunnyvale real estate market is appreciating at an incredibly fast rate. The month over month changes might be reflective of appreciation in a normal  year.

Here are a few quick points from the single family home market below:

  • The sale to list price ratio is blazing with homes selling on average at 119.6% of asking. This is up both month over month and year over year.
  • Days on market were at 14 in December, down both month over month and year over year also.
  • The average sale price was $2,375,790 (up 1.8% from November and up a staggering 33.7% from Dec 2020).
  • The median sale price was $2,490,000 (up 7.1% from November and almost unimaginable +42.9% from last year).

Sunnyvale Real Estate Market Trends and Statistics

The bottom line is that there’s not enough inventory but it seems like every potential buyer wants to get a home ASAP, before interest rates rise as expected. Santa Clara and many other cities are having the same experience, though to varying degrees.

The Real Estate Report numbers for Sunnyvale (entire city), single family homes

PLEASE visit my 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.)

Sunnyvale realty market statistics

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $2,490,000 (+7.1%) $2,325,000 $1,742,500 (+42.9%)
Average Price $2,375,790 (+1.8%) $2,333,310 $1,777,110 (+33.7%)
No. of Sales 43 (-10.4%) 48 54 (-20.4%)
Pending 67 (-24.7%) 89 36 (+86.1%)
Active (-38.5%) 13 10 (-20.0%)
Sale vs. List Price 119.6% (+3.3%) 115.8% 103.9% (+15.2%)
Days on Market 14 (-4.8%) 14 20 (-31.5%)
Days of Inventory (-28.9%) 8 (+0.5%)

 

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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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 real estate market of Willow Glen in San Jose remains extremely active with no signs of cooling down this winter. It’s a red hot seller’s market for these homes! This article will provide data and analysis for the residential markets in this area, updated monthly. Here are a few highlights from the single family housing market update:

  • Perpetually low available inventory and a high volume of sales are fueling a red hot seller’s market!
  • Compared to December 2020, the average and median price rose by 12.4% and 16.2% respectively.
  • Home sales averaged a rapid 14 days on market and sale to list price ratio at a raging hot 113.3% of list price!

The Willow Glen Real Estate Market

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.

Willow Glen Real Estate Market Trends: Single Family Homes

Click for the complete Willow Glen real estate report:

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $1,900,000 (+3.4%) $1,837,500 $1,635,000 (+16.2%)
Average Price $1,946,950 (+6.1%) $1,835,200 $1,731,810 (+12.4%)
No. of Sales 43 (+13.2%) 38 56 (-23.2%)
Pending 42 (-34.4%) 64 52 (-19.2%)
Active (-47.1%) 17 25 (-64.0%)
Sale vs. List Price 111.3% (+2.2%) 108.9% 102.7% (+8.4%)
Days on Market 14 (-10.7%) 16 24 (-41.0%)
Days of Inventory (-51.6%) 13 13 (-53.1%)

 

Data from Altos Research for Willow Glen – San Jose 95125

Below please find a market profile and then a couple of charts for the 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!

In the latest update, Altos says single family homes are in a strong seller’s market with elevated market action, perpetually low inventory, and racing fast days on market.

 

Willow Glen Real-Time Market Profile

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The Evergreen area of San Jose

Evergreen area of San Jose (Silicon Valley)San Jose’s Evergreen district is in a strong seller’s market with extremely low active inventory. This article will examine the data from sales and active listings in this residential real estate market with live and monthly updates. Here are a few points from the latest Evergreen single family housing market update, provided in more detail below:

  • December sales moved quickly in under 3 weeks on average, taking just 17 days to sell.
  • The sales to list price ratio is a fiery 110% of asking with properties receiving multiple offers and overbids.
  • Sales remain sky high and available inventory can’t keep up!

The Evergreen area of San Jose  includes many newer homes and communities. It is a desirable Silicon Valley community as Evergreen is scenic and most of the district enjoys highly regarded schools, particularly at the elementary and middle school levels.

Evergreen Real Estate Market Report: Single Family Homes

The Re Report considers all of the Evergreen district together. Please find the full report on my Real Estate Report for the Evergreen area of San Jose. Further down, you’ll see live charts with more zip code specific details.

Instead of cooling down when winter arrived, the market heated up in Evergreen.

Trends at a Glance

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $1,537,500 (-3.9%) $1,600,000 $1,325,500 (+16.0%)
Average Price $1,802,910 (-3.0%) $1,858,110 $1,437,910 (+25.4%)
No. of Sales 32 (-25.6%) 43 38 (-15.8%)
Pending 51 (-20.3%) 64 38 (+34.2%)
Active 10 (-9.1%) 11 10 (0.0%)
Sale vs. List Price 110.5% (+2.0%) 108.3% 104.0% (+6.3%)
Days on Market 17 (+28.3%) 13 14 (+17.4%)
Days of Inventory (+26.4%) 7 (+18.7%)

Altos Research: Evergreen real estate market for single family homes or houses by zip code

95148

Evergreen of San Jose 95148 Real-Time Market Profile

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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 hardly any inventory – just 2 homes for sale!
  • December sales to list price ratio remains high at 103.7% of asking.
  • 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.

There are ALMOST no condominiums or townhomes in Monte Sereno (the MLS shows 5 closed sales around MS ever and 1 pending at Montalvo Oaks). 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

 

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

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Cupertino Real Estate Market Trends and Statistics

How’s the Cupertino real estate market?

I’m not sure there are enough superlatives to make the point that the Cupertino real estate market has never been hotter or that prices are rising straight up. It doesn’t look like the slope on a hill, it’s more like a sheer cliff.

In December there were 19 single family homes sold in Cupertino. Here are some quick stats:

  • The average median sale price was $3,176,000 in December, up a staggering 34.6% from a year ago and 5.6% from a month prior.
  • The average sale price hit $3,226,470, up 32.9% from December 2020, and up 10.4% from November 2021.
  • The average sale to list price ratio was 118.3%, which is unheard of at this time of year.
  • The days on market averaged just 12.

 

Cupertino - view from Ridge Vineyards

Cupertino – view from Ridge Vineyards

 

When prices rise this fast, it is entirely possible (especially for first time buyers who don’t own local real estate) for home buyers to get priced out of the market. You cannot save enough to keep up at this rate. Prices are literally up $400,000 from a year ago.

Altos Research charts (they use LIST prices, not sale prices):

 

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City of Santa Clara real estate market

Santa Clara real estate market - The Santa Clara Women's Club http://www.santaclarawomansclub.org/

The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/

The real estate market in the city of Santa Clara, like the rest of Silicon Valley, is one in which the sellers have the upper hand, though it continues to be impacted by the pandemic and heightened demand. What is key for home sellers is to price and For some reason, buyers are seemingly going crazy over this part of Silicon Valley right now.

  • The December sale to list price ratio is a white hot 116.9% of asking.
  • December had just 5 active listings, but 36 closed  sales for houses in Santa Clara
  • The average days of inventory was just 4, but the days on market was a lengthening 27 (that tells us that houses that had been on the market a long time did finally sell)

Prices in Santa Clara are astronomical. I grew up in that city and am amazed to see that the average sale price there is now $1.9 million and the median sale price is $1.8 million.

The Real Estate Market for the City of Santa Clara

Below there are charts for the market activity over the last few months for single family homes in Santa Clara. Market activity has been high for months, and low inventory from the past two years with continuous low inventory around the rest of the Valley means there is still a greater demand to fill than properties available. Further down in the article, we’ll check in on the condo market, too.

First, a market profile, automatically updated weekly, for the city of Santa Clara (these reports are available by zip code, too, and for condos/townhomes as well as single family dwellings). Check out the weekly Altos report HERE and click on subscribe to get weekly updates on all of Santa Clara or any particular zip code. (Scroll to the bottom and check out the profile of houses across 4 pricing quartiles – super interesting.)

 

Santa Clara Real-Time Market Profile

According to Altos, it’s a strong seller’s market right now with an elevated market action, extremely low days on market, and continually shrinking inventory.

Data from my Real Estate Report

Next, stats at a glance for the Santa Clara real estate market for single family homes. There’s a glitch with our usual system that generates the statistics and trends, so this month we’re doing the charts by hand and pulling the data manually from the MLS:

Trends at a Glance

Looking back, 2020 began with a hotter than usual winter market getting progressively hotter towards spring. Things started to change after March 2020 and the market was hit with some significant cooling at the start of shelter-in-place. As the country has begun to open up and easing restrictions for realty sales, all that pent up demand has fired up the market!

High demand and low inventory are fueling a hot market in Santa Clara, No winter cool down here. Normally Clair and I don’t include the market heat charts from the RE Report, but this one was so striking that I wanted to include it. It’s a quick view of why it’s so hard for buyers to buy there, and so easy for sellers to sell there right now. That chart can be viewed larger by clicking on it, or visit my RE Report page for Santa Clara stats here.

Santa Clara real estate market graph from the RE Report

 

Trends at a Glance

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $1,800,000 (+3.6%) $1,737,500 $1,390,440 (+29.5%)
Average Price $1,904,270 (+3.6%) $1,837,810 $1,416,030 (+34.5%)
No. of Sales 36 (-18.2%) 44 44 (-18.2%)
Pending 45 (-11.8%) 51 32 (+40.6%)
Active (-54.5%) 11 14 (-64.3%)
Sale vs. List Price 116.9% (+1.4%) 115.2% 105.8% (+10.5%)
Days on Market 27 (+107.1%) 13 22 (+22.9%)
Days of Inventory (-42.5%) 7 10 (-56.3%)

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