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Cambrian Park Real Estate Market graphicOne of the best ways to get a pulse on the Cambrian Park real estate market is to see what’s selling fast. Sometimes a few low sales will make the market look more sluggish than it is. For the Cambrian housing market, though, most single family homes are selling well, with multiple offers, and overbids right now. But not all. So let’s separate them out by time and see how it looks.

Before we begin, it’s important to recognize how much has changed since the beginning of March. With summer and a good deal of autumn behind us we can clearly see some the pandemic’s affect on the real estate market, but it will take time to see the full picture. For more on the impact of the pandemic on the market, check out 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 for the months involved. Current numbers are accurate.

Fast sales are stronger sales: under 14 days is best for Cambrian Park realty sales 

Just now (as of November 13th) I pulled the single family home sales for Cambrian (mls area 14) for the last 30 days (mostly October but possibly some November) and saw a huge difference between the homes that sell fast and those that do not. The turning point seems to be 14 days on the market between overbids and underbids.

Out of 73 properties sold in the last 30 days, 52 of them or about 71% sold in 14 days or less, with the average days on market (DOM) for this group a lighting speed 7 days! For these fast selling homes the average list price $1,286,777 and average sale price $1,345,338 (averaging an overbid of $58,561 or approximately 104.5% of list price). Only 6 in that group sold below list price and 2 sold at list price (and 2 more sold for only $1 over, so practically at list price). The majority, 44 properties, sold over asking.

Of the 21 slower sales, roughly 29% of all sales, were on the market between 15 and 63 days. Ten sold above list price (only 4 of these took more than a month to sell), 1 sold at asking, and the remaining 10 sold below (only 4 of these took less than a month to sell).

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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, as it has been for months. This spring it experienced mild unseasonable cooling, a likely result of the pandemic, though it’s continued to recover since with an increasingly hot market through summer that’s remained warm through early autumn. This is visible in the San Jose housing market data, below, but I’ve also seen it in my own real estate practice.

Something to note, however, is that these charts will not reflect the full effect of the pandemic on the market. We have a better view of the impact now that we have a good spread of data to look back on, but it will take a while to see the full picture. For now, you can read about Coronavirus’ impact on real estate sales on my other post.

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. 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 November 10th) shows on the graph a sharp decrease of inventory, slight lengthening in days on market, and a steady rise in market action. San Jose is in a strong seller’s market according to Altos, and is continuing to heat up. The Median List Price (for condos and houses combined) is usually stable around $1,250,000, though it wass nearer to $1.3 mil around late summer and early autumn.

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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 and continues to grow hotter into autumn.

It’s hard to predict what’s coming up next with all that’s happened since March. The charts are beginning to show the impact of the pandemic on the 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.

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 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 started to see those numbers again as restrictions on the market ease. However, we are still seeing buyers bring in offers with normal contingencies, particularly if there are not any competing bids. With the restrictions on showings and real estate in general, these numbers may still be low, especially if there is delayed market activity from spring.

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 November 10th this chart showing Campbell, CA is in a strong seller’s market with the continuing trends of rising market action and shrinking inventory.

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

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Graphic: House and yard with words Milpitas Real Estate MarketThe Milpitas real estate market has been one of the hottest in Santa Clara County, and even now Altos Research calls it a strong seller’s market. The sale to list price ratio rose again, with more sales and smaller available inventory compared to last year.

Despite unusual circumstance this year, Milpitas is a favorable market for the well-prepared seller, though not as hot as we might have anticipated it would be back in January. This is in keeping with trends we are seeing throughout the San Francisco Bay Area and Silicon Valley: well priced homes are selling close to list price, but below peak pricing from spring 2018.

A lot has changed since the start of March. Over time we’re beginning to get a clearer view of how these changes are affecting the market, but it will be a while before we know the full impact of the pandemic on real estate sales. For now, check out my post: 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. 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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Mountain View CA real estate market trends and statistics on Mary Pope-Handy's Valley of Heart's Delight blogHow’s the Mountain View CA real estate market? This is one of the very 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.)

All that popularity comes at a cost, though. Prices have been sky high in Mountain View for years, both for rentals and for home buying. The good news, though, for those with property or those who take the plunge and purchase: it doesn’t look like Mountain View is going to lose its appeal anytime soon.

In this article, which is updated monthly, we will include live Altos Charts which automatically update weekly (so bookmark this page!) as well as monthly insights from the Real Estate Report for Mountain View. From time to time I will be adding “in the trenches” commentary to bolster this information.

Before we dive in, it’s necessary to acknowledge that much has changed since the beginning of March, so this data is not going to be as relevant as it would in a normal spring market. This month’s data gives us a view into the pandemic’s affect on real estate, but not the full picture. For more on this, read 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. That means current numbers are accurate while data for those previous months are not.

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

See the whole Mountain View Real Estate Report online here.

Single family homes (mostly houses, but some duet homes) sales fell from last month’s peak, but they’re up from last year and even from this spring when they were in the single digits. October remained fairly stable from the month before with pricing a hair lower than last year, days on market consistent at 17, and a higher volume of sales and sale pending compared to 2019. Active inventory is also well above where it was in 2019, continuing to grow into autumn. The sales to list price ratio rose to 102.8%, slightly hotter than a year ago.

Mountain View is a strong seller’s market with more inventory and activity than this time last year.

Trends At a Glance Oct 2020 Previous Month Year-over-Year
Median Price $2,110,000 (-2.3%) $2,160,000 $2,200,000 (-4.1%)
Average Price $2,295,060 (+3.4%) $2,218,840 $2,422,910 (-5.3%)
No. of Sales 25 (-24.2%) 33 22 (+13.6%)
Pending 32 (+18.5%) 27 16 (+100.0%)
Active 41 (+28.1%) 32 26 (+57.7%)
Sale vs. List Price 102.8% (+1.1%) 101.7% 102.2% (+0.7%)
Days on Market 17 (+0.8%) 17 22 (-21.4%)
Days of Inventory 49 (+75.0%) 28 35 (+38.8%)

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First a quick note before we dive into the Sunnyvale real estate market trends and statistics. A lot has changed since the start of March and it will likely be a while before we see can see the full impact of coronavirus on the data in these charts. To read more about how the pandemic is affecting the real estate market, please read my post: 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 for those past months, but not current data.

Just now I pulled the October sales of single family homes for the Sunnyvale real estate market trends & statistics. In that time there were 61 single family homes (mostly houses, but possibly duet homes) that closed escrow. The range in sale price was from $1,075,000 to $2,720,000 (30 sold at $2 mil or higher). For this Sunnyvale group:

  • the average list price came in at $1,868,349
  • average sale price was $1,976,087 – over $107K more!
  • average age 59 years
  • average square footage 1,675 SF
  • average lot size 7,357 SF
  • average days on market 15
  • average price per SF for all 61 houses: $1,218.14 (up from $1,129.75 the month before)

Not all homes sold $107K over list price, however. Here’s a bit more data on that part of the Sunnyvale housing market.

There were 45 homes (out of 61, or roughly 74%) which sold in 14 days or less. Of those hot listings, the average list price was $1,874,856 and average sale price $2,027,467, that’s over $152K more! Home size average 1,658 SF and lot size average 7,486 SF, so slightly smaller homes on slightly larger lots compared to the whole. It seems that if the home sells quickly, in two weeks or less, the odds are better for a higher sale. Price per SF for the fast sales group: $1,268.50, or $50.36/SqFt over the total market average.

If we focus on just the slower 15 days or more to sell homes, the numbers are all bleaker for sellers and better for buyers. Among those 16 sales, 5 sold above list price, none sold at list price, and 11 sold under asking. Their average list price (may include price reductions) was $1,850,048, and average sale price was $1,831,582 or over $18K below list price. Average price per SF $1,076.53, or a whopping $141.61/SqFt less than the total market average!

This kind of result is why Realtors so often try to get the home sold fast. We can look for similarities between the slower selling homes compared to the faster ones, and sometimes pinpoint what market is selling best, perhaps by price or age of house. Maybe they are a little more remodeled or in a slightly better area? It would be a longer study to pick that apart, but it is worth noting the correlation between the speed of the sale and the list to sale price difference.

The sale price to list price ratio is all over the board when houses are viewed individually as opposed to by how fast they sell alone.

The Sunnyvale real estate market also varies by location (east of El Camino is generally not as desirable as west of it), school district (the portion with Cupertino schools is likely the strongest part of the market), and as mentioned above, price point. Being too close to train tracks, being in a flood plain, or other location issues will make it more challenging to sell.

Do you find this kind of info useful? If so, I’d love to hear from you – my email address is mary@popehandy.com. Please tell your friends, especially if they are interested in buying or selling residential property here!

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

Feel free to visit the same statistics, trends, and more at my ReReport page.

(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 Oct 2020 Previous Month Year-over-Year
Median Price $1,950,000 (-3.3%) $2,015,940 $1,675,000 (+16.4%)
Average Price $1,976,090 (-0.6%) $1,987,540 $1,699,330 (+16.3%)
No. of Sales 61 (+38.6%) 44 55 (+10.9%)
Pending 60 (+15.4%) 52 46 (+30.4%)
Active 56 (-6.7%) 60 44 (+27.3%)
Sale vs. List Price 105.7% (+1.0%) 104.6% 101.8% (+3.8%)
Days on Market 16 (+13.3%) 15 17 (-2.1%)
Days of Inventory 28 (-30.4%) 40 24 (+14.8%)

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How’s the Cupertino real estate market?

Cupertino - view from Ridge Vineyards

Cupertino – view from Ridge Vineyards

Cupertino’s active inventory is extremely low and sales were high this October. The sale to list price ratio remains above 100% with single family homes taking less than a month to sell on average. It’s a limited but hot market in Cupertino.

Normally, looking at the market data for the previous month gives us a good idea about where the market is today. But changed seems to be the only constant since the start of March. We’ll be seeing a clearer impact of the novel coronavirus on the real estate market over time, but for now you can read more about the Coronavirus impact on real estate sales in my other post.

At the start 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. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory for prior months. Current numbers are accurate.

This city often represents how the best markets in the valley are performing, as it offers a short commute to major tech centers, fantastic schools, and homes that are (generally) not too elaborate or wastefully luxurious. If Cupertino’s doing well, you’ll have a pretty good idea that the market in the more affordable price points in Los Altos, Saratoga, Los Gatos, etc. are likely also doing well. And if Cupertino is faring poorly, that is not a good sign for anywhere!

 

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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


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
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Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
Mary’s other resources
Silicon Valley real estate report
Real estate statistics and trends for Santa Clara County, San Mateo County, and Santa Cruz County

Live in Los Gatos blog
Los Gatos neighborhoods, history, businessses, parks, restaurant reviews, and more

Valley Of Heart's Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling
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