Neighborhoods
Areas & Neighborhoods
How 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.
There are no condominiums or townhomes in Monte Sereno at present (we are watching closely the proposed development at La Rinconada, which is unincorporated as of this writing). 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 (a pdf online): 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.
As of the latest update, March 10, 2020, the Monte Sereno market is in a slight seller’s advantage.
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:
It looks like prices are rising right now in all but the lowest price tier! Remember, there’s less inventory in winter usually, and fewer sales mean greater swings in data.
Stats for recently closed home sales in Monte Sereno
Here are the quick statistics for the closed sales in the last complete month to give a sense of how things are going with the Monte Sereno real estate market. Sales data comes from my Monte Sereno Real Estate Report. Given that the supply of homes to study is tiny, what can we tell from this data?
It’s true that an average Monte Sereno house is about $2.5-3.5 million, and often higher in the current market – a little steep for most folks!
Monte Sereno Real Estate Market Trends at a Glance:
Just 2 sales in February makes this not a statistically useful pool of data. Looking back a year, however, it’s at least keeping up with last year’s market!
| Trends At a Glance | Feb 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,828,000 (-16.9%) | $2,200,000 | $2,675,000 (-31.7%) |
| Average Price | $1,828,000 (-16.9%) | $2,200,000 | $2,675,000 (-31.7%) |
| No. of Sales | 2 (+100.0%) | 1 | 2 (0.0%) |
| Pending | 0 (-100.0%) | 1 | 0 (N/A) |
| Active | 8 (+60.0%) | 5 | 6 (+33.3%) |
| Sale vs. List Price | 105.9% (+8.3%) | 97.8% | 97.3% (+8.8%) |
| Days on Market | 32 (+540.0%) | 5 | 8 (+300.0%) |
| Days of Inventory | 112 (-25.3%) | 150 | 81 (+38.3%) |
And the month before:
| Trends At a Glance | Jan 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $2,200,000 (-6.9%) | $2,362,500 | $0 (N/A) |
| Average Price | $2,200,000 (-33.4%) | $3,301,250 | $0 (N/A) |
| No. of Sales | 1 (-75.0%) | 4 | 0 (N/A) |
| Pending | 1 (0.0%) | 1 | 1 (0.0%) |
| Active | 5 (0.0%) | 5 | 3 (+66.7%) |
| Sale vs. List Price | 97.8% (-2.1%) | 99.9% | 0.0% (N/A) |
| Days on Market | 5 (-77.0%) | 22 | 0 (N/A) |
| Days of Inventory | 150 (+300.0%) | 38 | 0 (N/A) |
Because so few houses sell per month, pricing appears to jump around when that’s not actually the case. The Monte Sereno home prices tend to be a little higher but generally follow the Los Gatos trends, so it’s worth while to view this info also to get a more balanced sense of how things are for real estate in Monte Sereno. Also, for those considering buying or selling, it’s important to look at the actual listings for each and every sale with similar features, size, amenities to get a sense of your home’s particular subset of the market.
Next, let’s look at the live charts from Altos to see how active listings reflect the market as seen from viewing sold listings.
Silver Leaf Park in the Santa Teresa area of San Jose
How’s the Santa Teresa real estate market? The scenic Santa Teresa area of San Jose is popular as it’s a bit more affordable but offers lovely views of the hills and public schools that seem to be improving over time, making the area more desirable. These positives seem to be helping that area to hold its value pretty well.
Santa Teresa (our MLS Area 2) includes a small bit of the 95123 zip code, which is more expensive, but most of that zip is Blossom Valley, so we will omit it. The 95138 zip code is about half Santa Teresa and half Evergreen (more expensive area), so take those numbers with a big grain of salt. I find the 95119 zip code to be most helpful, but even then, the school district is divided between Oak Grove and Morgan Hill.
Weekly update from Altos Research with a “market profile” of San Jose’s Santa Teresa area, zip code 95119 for single family homes / houses:
This week’s update (as of writing this, March 11th) the chart looks rather bare. There are only 3 properties active at the moment, and last month when I updated this page there were none in 95119. This winter, Altos has shown a strong seller’s advantage in a market bouncing between strong and mild with extremely low inventory.
Weekly update from Altos Research with look at a glance of zip code 95138 for single family homes or houses:
The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/
Update on the Santa Clara real estate market: The realty market in the city of Santa Clara, like the rest of Silicon Valley, is one in which the sellers have the upper hand, though prices softened in winter. What is key for home sellers is to price according to today’s market (the temptation being to instead set the offer value to the high point, which was a year ago spring).
That being said, this February the market went from a strong and steady to a scorching hot seller’s market!
Below there are charts for the market activity over the last few months. Low inventory from the past year and continuous low inventory around the rest of the Valley means there is still a greater demand to fill than properties available. Further 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.)
According to Altos, it’s a very strong seller’s market right now. This area is showing more market action than I’ve seen elsewhere in the market right now.
Data from my RE Report:
Next, stats at a glance for the Santa Clara real estate market for single family homes. See the statistics and trends for closings and listings for last month – updated each month on about the 5th – 10th on my RE Report site for realty stats & trends in Santa Clara:
Trends at a Glance
Seasonal cooling is normal in winter, but we’re not seeing a strong shift – it’s still a hot market. Inventory is up from January (which iss expected), but nowhere near what it was in February 2019. The only area where inventory is keeping up with last year is in the pending sales, which are way higher than last month and well above either sales or active inventory – it’s more than both combined! Sales vs list price shot up to an incredible 109.4% in February. That’s the highest percentage I’ve seen over the February markets! Generally, it’s an extremely hot market with rapid turnover and escalating prices.
| Trends At a Glance | Feb 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,430,000 (+3.2%) | $1,385,000 | $1,400,000 (+2.1%) |
| Average Price | $1,454,240 (+3.7%) | $1,402,530 | $1,418,440 (+2.5%) |
| No. of Sales | 19 (+26.7%) | 15 | 37 (-48.6%) |
| Pending | 49 (+188.2%) | 17 | 45 (+8.9%) |
| Active | 16 (+14.3%) | 14 | 59 (-72.9%) |
| Sale vs. List Price | 109.4% (+9.7%) | 99.7% | 102.9% (+6.3%) |
| Days on Market | 12 (-74.7%) | 48 | 22 (-43.8%) |
| Days of Inventory | 24 (-15.8%) | 28 | 43 (-45.2%) |
One 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 quickly, with multiple offers, and overbids right now. But not all. So let’s separate them out by time and see how it looks.
Fast sales are stronger sales: under 14 days is best for Cambrian Park realty sales
Just now (as of March 10th) I pulled the single family home sales for Cambrian (mls area 14) for the last 30 days (mostly Feb but some Mar) 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 42 properties sold in the last 30 days, 36 of them or about 86% sold in 14 days or less, with the average days on market (DOM) a lighting speed 5.25 days. For these fast selling homes the average list price $1,370,951 and average sale price $1,464,152 (averaging an overbid of $93,200 or approximately 106.8% of list price). Only 5 in that group sold below list with 3 selling at list price and most selling over asking.
Of the 6 remaining, which were on the market between 15 and 236 days, only 2 sold above list price, none at asking, and 4 sold below.
The 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 | 9 (+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%) |
The Evergreen area of San Jose is includes many newer homes and communities. It is a highly regarded Silicon Valley community as Evergreen is scenic and most of the district enjoys highly regarded schools, particularly at the elementary and middle school levels. In this article I’ll provide some info on this section of the valley and then offer information on the current real estate market trends there, and that part will be updated periodically. Just want the Evergreen real estate market update? Please scroll down!
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.
The Evergreen area warmed up in February with a rise in prices, in sales, in sales to list price ratio, and a quicker market turnover. It’s a hot seller’s market with dwindling available listings.
| Trends At a Glance | Feb 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,290,000 (+29.0%) | $1,000,000 | $1,125,000 (+14.7%) |
| Average Price | $1,405,160 (+20.2%) | $1,168,670 | $1,226,670 (+14.6%) |
| No. of Sales | 19 (+26.7%) | 15 | 25 (-24.0%) |
| Pending | 38 (+65.2%) | 23 | 23 (+65.2%) |
| Active | 24 (-17.2%) | 29 | 40 (-40.0%) |
| Sale vs. List Price | 101.8% (+2.1%) | 99.7% | 99.4% (+2.4%) |
| Days on Market | 26 (-40.4%) | 44 | 45 (-41.6%) |
| Days of Inventory | 35 (-39.0%) | 58 | 43 (-18.1%) |
Altos Research: Evergreen real estate market for single family homes or houses by zip code
95148
The San Jose real estate market is a strong seller’s market, heating up again after some winter cooling. However, this season has remained steadily active. We see this in the San Jose housing market data, below, but I’m also seeing it in my real estate practice.
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 (last updated 3/10/2020 as of this writing) shows on the graph a slow increase of inventory, dropping days on market, and rising prices after some cooling. The Market Action Index still shows a Strong Seller’s Market that’s only getting hotter. The Median List Price (for condos and houses combined) is approximately $1,288,000.
