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Palo Alto Real Estate Market

Scene from downtown Palo AltoPalo Alto, a popular mid-Peninsula city, is one of the northernmost of Santa Clara county, and one of the most expensive.

Sometimes called “the birthplace of Silicon Valley” this city is home to many high tech firms with a rich local history. It’s also famous for high scoring schools, Stanford centers, shopping and dining opportunities, low crime rates, beautiful parks and neighborhoods, and a milder Peninsula bayside climate.

Read more about this first class community over on our other blog Not to be confused with its neighbors East Palo Alto (in San Mateo County)or the unique community of Stanford, CA. Stanford is its own municipality, though adjacent to PA.

The Palo Alto Real Estate Market

We subscribe to a few services to get the latest data from the MLS and market conditions for the areas where we sell homes.

The first is the RE Report which shows the data from closed sales, updated around the 5th of every month. The landing page if you follow that link will show you the data for this city’s single family homes, but near the top you can change the criteria to hone in on a particular neighborhood or show condo and townhome sales.

Neighborhoods available to view on the RE Report for this city:

Barron Park
Community Center
Crescent Park
Downtown PA
Green Acres
Green Gables
Old PA
Palo Alto Hills
South PA

Please keep in mind that we are in a time of very low inventory, so many of these smaller sections of the city won’t have many sales, and in some cases, none at all in the last month or so. It can make the data appear to be swinging wildly when that is not actually the case.

Below please find the next: a live Altos Research chart, showing the real-time market profile of homes for sale (updated about once per week) – this will give you an idea of what a house might cost in this sought-after community.



The Cambrian Park Real Estate Market Update

Cambrian Park Real Estate Market graphicThe Cambrian Park real estate market is pivoting back to a stronger seller’s market. The closed data for February shows tremendous improvement in many data points over February, but that’s even more evident in the multi year stats that I pulled from the MLS that includes the first 13 days of March.

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

Here is a good summary on the Cambrian real estate market. The RE Report is having some issues with reporting from the MLS, so this data may not be exact but we can still understand the current trends with this chart.

The RE Report slows that the February market was much hotter than the January market for Cambrian, but prices are still down 21.6% from a year ago.

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $1,527,500 (-3.1%) $1,576,500 $1,953,000 (-21.8%)
Average Price $1,583,040 (+1.9%) $1,552,860 $2,018,890 (-21.6%)
No. of Sales 20 (+42.9%) 14 31 (-35.5%)
Pending 66 (+20.0%) 55 61 (+8.2%)
Active 26 (0.0%) 26 21 (+23.8%)
Sale vs. List Price 103.3% (+3.3%) 100.0% 122.5% (-15.6%)
Days on Market 18 (-18.8%) 23 (+191.8%)
Days of Inventory 35 (-37.0%) 56 18 (+91.9%)


Multi year average sale prices of Cambrian houses sold each month

What are home values doing in Cambrian? Check out the closed average sale price for March so far – it could change, but it’s far higher than what we had in February!

Right now, though, what we are experiencing is that there are far more buyers than sellers, multiple offers are common on newly listed homes, and overbids are at times steep.

From the time we experience this with offers submitted or received and the time it shows up in the closed sale data it can be 30-45 days. For that reason, I am including the stats for February, which will reflect closings from Feb 1 – Feb 10 only. This could, of course, change before the end of the month. However, the closed sales in February so far demonstrate the pivot in the market that we are seeing.

In the following 3 data tables, please note the changes from December and January to February of this year.  Prices are still far below a year ago and are close to the values from Feb 2021. That may appeal to many buyers as “a good deal”.


Cambrian SFH Average sale price

The prices haven’t jumped up a done, but they are up and over Nov – Jan and may indicate a trend change.


Sunnyvale real estate market trends & statistics

The Sunnyvale real estate market, like the rest of Santa Clara County, has been heating up. Some of this is seasonally typical.

Sunnyvale real estate market  trends and stats at a glance

Here is a quick data table with the trends at a glance for the Sunnyvale real estate market:

  • The average sale price of Sunnyvale homes was up a hair in February as compared to January, but down 18.4% from a year ago.
  • The number of homes sold rose to 19  from 15 in January. In Feb 2022 it was 30 sold homes.
  • Pending sales rose dramatically to 85 in Feb from 65 in January and is even higher than in Feb 2022.
  • The sale to list price ratio rose to 103.1% in February from 98.7% in January – of course this is far below a year ago.

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 Feb 2023 Previous Month Year-over-Year
Median Price $2,050,000 (-2.4%) $2,100,000 $2,507,940 (-18.3%)
Average Price $1,960,840 (+0.1%) $1,958,130 $2,403,200 (-18.4%)
No. of Sales 19 (+26.7%) 15 30 (-36.7%)
Pending 85 (+30.8%) 65 84 (+1.2%)
Active 29 (-9.4%) 32 27 (+7.4%)
Sale vs. List Price 103.1% (+4.4%) 98.7% 125.4% (-17.8%)
Days on Market 22 (-41.4%) 37 (+192.2%)
Days of Inventory 41 (-35.6%) 64 24 (+69.6%)


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.


Los Altos: Beautiful Silicon Valley Suburb

Los Altos downtownLos Altos is a scenic town, semi-rural, conveniently located, with notably good schools (Los Altos or Cupertino schools). The charming old style downtown enjoys superior restaurants, shops, and is a pleasant place to stroll. The town enjoys a community college and a golf course. Its a great place for pedestrians and cyclists (lots of paths), and is a quick jaunt to both Palo Alto and Mountain View, both very popular peninsula destinations.

There’s a brief history of Los Altos on that city’s website that I found interesting. First, the land that started the community was originally 140 acres purchased from Sarah Winchester. Second, Foothill Expressway used to be a right of way for the Southern Pacific Railroad. The train line ceased operations in 1964, and the expressway was put in. Love local history from the Valley of Heart’s Delight? The Los Altos History Museum is a worthwhile destination.

The zip codes don’t stay within the city’s boundaries. Both 94022 and 94024 can be found in Los Altos and adjacent Los Altos Hills.

Los Altos Real Estate Market Conditions

Below please find first information from Altos Research, and then from the RE Report (I have subscriptions to both). Altos’ data is for the city and by zip codes. It uses list prices and its charts and reports are updated automatically each week. The RE Report uses data for each full month and provides it for the city as a whole and also by four distinct regions or neighborhoods. Both reports offer a subscription option if you click on the links.

The next 3 charts are from Altos Research and they are updated weekly, so check back often!  You can see the weekly report, with even more data, by visiting the link. Subscribe for Los Altos, for one of its zip codes, or anywhere else nearby by first entering the desired zip or city in the “Search Anywhere” button and then clicking on subscribe.

Whole town- both 94022 and 94024






Los Gatos Real Estate Market Trends

Leo or Leona - the mascot of Los Gatos

As of today, March 13, 2023, the Los Gatos real estate market in 95030 & 95032 is generally warming up, but it varies between school districts.  for these first days in March, home sales in areas with Los Gatos High are selling  for more than they did in February and at a higher sale price to list price ratio than in February. The opposite is true for homes in the Westmont and Leigh areas. That said, we are not even halfway through March, so this could certainly change. (No charts for this – just my comments.)

If you are looking for Los Gatos Mountains 95033  real estate market data, please click on the link as it has its own article.

Stats from the MLS for Los Gatos 95030 and Los Gatos 95032

Here is some Los Gatos real estate market data that I pulled directly from the MLS today.

Number of listings versus sales in LG 95030 and 95032

This is supply and demand in a nutshell: when the rate of sales outpaces listings, it’s a hot market – as we had in early 2022. When the available listings far outpace the number of sales, it’s either not so hot or it’s downright cool (as with a very large gap – see June 2022 as a great example).


Listings to Closed sales per month


Average sale price of homes sold in Los Gatos 95030 & 95032 – Los Gatos house prices

The numbers really jump around a bit in Los Gatos. Los Gatos single family home prices aren’t quite that volatile. What can happen is that in one month, there may be more sales in one school district, home size, or price point than in another. If one month a high proportion of entry level homes sell in a less expensive school district, and the next month a lot of properties sold in a more expensive area with larger homes, it will jump.

Home prices appear to be moving up in March as compared to February, but still much lower than a year ago for both Feb and March so far.

If you click on the image below, it will open in a new window and be larger and easier to read.



 Average sale price Los Gatos 95030 and 95032


The San Jose Real Estate Market Analysis

San Jose Real Estate MarketThe San Jose real estate market remains in transition. While it is still a clear seller’s market, things are much cooler than what they were a year ago. Demand may have shrunk, but so has inventory. We’re seeing fluctuating cooling and heating rather than the dramatic rise and plunge from mid-2022.

First, some quick data from my RE Report via the bullets and chart below. There appears to be a small amount of undercounting or overcounting between the RE Report and MLS Listings, but the information is still good for tracking trends.

  • The February 2023 sale price to list price ratio for San Jose single family homes jumped to 102.0% of asking (+3.4% from last month per RE Report). For the MLS stats we pulled today, however, it shows 101.3% in February, up from 98.6%. Either way, the average home is once again selling over list price in San Jose.
  • Home prices are down approximately 18% – 20% from last year (RE Report), and month-over-month it seems like the lower-price tier of the market is experiencing more sales with a higher median price and a lower average price across this city since the month before.
  • The days on market shrank a hair from an average of 31 in January to 29 days in February (RE Report). When I pulled them directly, it was 33 in January and 31 in February (not shown below). Either way, it’s speeding up slightly and averaging close to a month, which makes it a clear seller’s market.

War, inflation, stock market, recession concerns – and real estate

The market slowed down at the start of winter, and realistic sellers have been positioning their homes accordingly. February showed signs of a warmer spring market on the way, although inventory and sales remain low. There are loads of micro markets that influence how well a given home does, too.


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


Inventory remains severely low – 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 Glance Feb 2023 Previous Month Year-over-Year
Median Price $1,350,000 (+0.4%) $1,345,000 $1,650,000 (-18.2%)
Average Price $1,434,420 (-8.0%) $1,558,990 $1,778,760 (-19.4%)
No. of Sales 161 (+24.8%) 129 262 (-38.5%)
Pending 534 (+23.3%) 433 567 (-5.8%)
Active 223 (-8.2%) 243 211 (+5.7%)
Sale vs. List Price 102.0% (+3.4%) 98.7% 118.0% (-13.5%)
Days on Market 29 (-6.0%) 31 (+218.8%)
Days of Inventory 37 (-33.8%) 57 22 (+72.0%)


Please keep reading below for more data and market analysis.


Los Gatos Mountains 95033 Real Estate Market

Damp road in a redwood forest similar lo the Los Gatos MoountainsThe real estate market in the Los Gatos Mountains is very different from the “in town” Los Gatos housing market and really deserves its own separate treatment. The mountain area includes areas both in Santa Clara County and also Santa Cruz County, but the data here will reflect only the area within Santa Clara County. Both sides may have a Los Gatos mailing address with the 95033 zip code.

The Real Estate Report for the Los Gatos Mountains is updated each month with the RE Report info, but the Altos Research live chart automatically updates weekly, so please stop by often to get updated information.

Most of the valley is now seeing some calming down in the real estate market. Home prices have been dropping here also.

(If you are viewing this on a mobile device, the table below will scroll if you swipe it.)

Trends at a Glance: Los Gatos Mountains 95033

Check out the Los Gatos Mountains RE Report by using this link.

Market conditions have mixed data points: prices are up (but this is only from 3 sales, so take with a grain of salt)  The days on market and days of inventory have both improved from last month, but far worse than a year ago.

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $475,000 (-76.1%) $1,986,000 $1,511,500 (-68.6%)
Average Price $708,333 (-64.3%) $1,986,000 $1,503,830 (-52.9%)
No. of Sales (+50.0%) 2 (-50.0%)
Pending 13 (+85.7%) 7 14 (-7.1%)
Active 10 (-28.6%) 14 14 (-28.6%)
Sale vs. List Price 95.7% (+3.0%) 93.0% 98.4% (-2.7%)
Days on Market 72 (-37.4%) 115 39 (+83.8%)
Days of Inventory 90 (-57.1%) 210 63 (+42.9%)



And the month before:

Trends At a Glance Jan 2023 Previous Month Year-over-Year
Median Price $1,986,000 (+16.8%) $1,700,000 $1,837,500 (+8.1%)
Average Price $1,986,000 (+6.1%) $1,872,000 $2,128,330 (-6.7%)
No. of Sales (-60.0%) 5 (-66.7%)
Pending (+14.3%) 7 12 (-33.3%)
Active 13 (-23.5%) 17 13 (0.0%)
Sale vs. List Price 93.0% (-3.0%) 95.9% 98.8% (-5.9%)
Days on Market 115 (+119.5%) 52 32 (+259.4%)
Days of Inventory 195 (+91.2%) 102 65 (+200.0%)


95033 Real Estate Market – Los Gatos Mountains

Each week, my subscription to the Altos Research Report for the Los Gatos Mountains is automatically updated. Click on the link to view it, or subscribe if you’d like an update emailed to you regularly. You can also click on the link to check other nearby zip codes. Some of 95120 or 95032 can be in the rural areas, too, so check a zip code map in case the area that interests you is closer to Mt Umunhum, over Saratoga, or some other location.

As of the most recent Altos update this market is a mild seller’s market.


The mountain communities are many and diverse, so issues in one area, such as too much inventory or not enough listings, may be the opposite somewhere else.


Almaden Valley Real Estate Market Conditions

Almaden View Real Estate Market Conditions San Jose 95120 - photo with Mt Umunhum in backgroundThe Almaden Valley real estate market has some mixed data points, but overall, it’s a seller’s market. The average and median sale prices are down for houses, but the sale to list price ratio has risen, the days on market is a swift 17, and the pending (37) far outstrip the active listings (17).

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 uses closed / sold data). They’re having a bit of a technical issue with their data collection, so not every number is exactly correct, however it is still a useful tool for market analysis.


Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $1,802,500 (-24.5%) $2,387,500 $2,675,000 (-32.6%)
Average Price $1,937,790 (-28.1%) $2,693,440 $2,507,570 (-22.7%)
No. of Sales 14 (+75.0%) 8 18 (-22.2%)
Pending 37 (+23.3%) 30 34 (+8.8%)
Active 17 (-15.0%) 20 14 (+21.4%)
Sale vs. List Price 101.7% (+7.1%) 95.0% 115.1% (-11.7%)
Days on Market 17 (-71.2%) 59 (+201.3%)
Days of Inventory 33 (-56.3%) 75 21 (+56.1%)




Altos Research charts for Almaden Valley real estate market, single family homes segment (more…)

Saratoga CA Real Estate Market Update

Orchard and Hills in Saratoga, California - photo for article on the Saratoga CA real estate market

Orchard and Hills in Saratoga, California

The Saratoga CA real estate market has been giving us some mixed signals over the last few months. Overall, though, it’s a seller’s market. Some new listings are selling fast and with significant overbids. Other properties that have been on the market a while seem to just be sitting.

  • Saratoga average house prices rose month over month, but were down year over year.
  • The median sale prices for single family homes also rose monthly and fell annually.
  • The days of inventory rose to 130 from 77.
  • The sale to list price ratio to 105.2% in February from 101.2% in January.


How’s the Saratoga CA real estate market?

Saratoga has a diverse real estate market due to a wide range of home prices, square footage, lot sizes, school districts, and more. The luxury tier, generally $4 million and up (but in Saratoga, that’s really still just a house in an expensive zip code) normally moves slower than other price points. Saratoga’s entry level housing is usually the strongest. If the numbers swing wildly at any given month, it could be that more or fewer homes in a particular school district and pricing tier.


Trends at a Glance for the Saratoga CA Real Estate Market

Data below is from the ReReport.

Our February numbers show a market that warmed up from the month before in some data points, but cooled in others. Home prices continued to rise, but the number of pending sales fell further. Those homes that did sell went for  5.2% over list price on average.

Saratoga has many micro markets – but overall, it’s a seller’s market.

Trends at a Glance

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $3,700,000 (+5.7%) $3,500,000 $3,922,500 (-5.7%)
Average Price $4,522,000 (+24.2%) $3,640,000 $4,617,080 (-2.1%)
No. of Sales (-28.6%) 7 12 (-58.3%)
Pending 41 (+28.1%) 32 43 (-4.7%)
Active 24 (+33.3%) 18 15 (+60.0%)
Sale vs. List Price 105.2% (+4.0%) 101.2% 110.1% (-4.4%)
Days on Market 68 (+101.2%) 34 98 (-30.0%)
Days of Inventory 130 (+68.0%) 77 34 (+284.0%)


Next, a quick glance at the Altos Research market profile for a quick summary of the Saratoga CA real estate market conditions. Altos uses LIST prices, not sold prices, for this chart and the others, below.


Real-Time Market Profile Saratoga, CA 95070


Altos Research – list prices for Saratoga CA 95070 (more…)

Cupertino Real Estate Market Trends and Statistics

Cupertino - view from Ridge VineyardsHow’s the Cupertino real estate market?

The Cupertino real estate market warmed a little in February, but the sale to list price ratio remained below 100%.

Here are the most recent real estate statistics, via my Cupertino Real Estate Report.

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

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

Home prices are up  from last month, but down substantially from a year ago. The market is cooling across several data points. Even so, the average days on market is a brisk 29. While there were only 5 closed sales in February, that’s probably a reflection of the low inventory in January. Now there are 35 pending sales and just 18 active listings, so the numbers for March should be stronger.

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $2,512,800 (+1.5%) $2,475,000 $3,225,000 (-22.1%)
Average Price $2,593,740 (+9.1%) $2,376,670 $3,218,250 (-19.4%)
No. of Sales (-16.7%) 6 (-37.5%)
Pending 35 (+29.6%) 27 35 (0.0%)
Active 18 (+50.0%) 12 16 (+12.5%)
Sale vs. List Price 99.6% (+0.2%) 99.4% 134.9% (-26.1%)
Days on Market 29 (+128.8%) 13 (+376.7%)
Days of Inventory 97 (+62.0%) 60 54 (+80.0%)