by Mary Pope-Handy | Jan 17, 2021 | Condos & Townhomes, photos, Sale Type, Selling Tips, Short Sales, Silicon Valley, Single Family Homes
“Why isn’t my Silicon Valley townhouse selling?” wonders the home owner. Even in a seller’s market some properties struggle. Real estate agents know why the home (or townhome, or condo) isn’t getting any offers, or worse yet, any traffic at all. In fact, local Realtors who’ve seen it might wonder if the owner of the property has seen the MLS printout at all!
Why isn’t it selling?
Whether your home has been on the market for a while or you’re just about to list it, here are some of the most common culprits to look out for:
- Terrible photos (or not enough of them): in our San Jose area MLS we are allowed 9 photos. How many are in your listing?
- More on photos: Would it be so hard to turn the lights on in the home when photographing the property? Real estate looks much better when well lit than when dark. Even beautifully remodeled kitchens can look so-so if the lights are not all on! A bright room will make you money…a dark room will cost you!
- Is there a video or virtual tour? **
- Is the listing syndicated so that buyers can find it on multiple websites?
- How is the pricing? Did you price a 2 bedroom townhouse as if it’s a 3 bedroom? That’s a very common but huge mistake! Compare apples to apples – the buyers are doing that, and when you bought your home, you did too! Did you price the home using comps from 6 months ago, or comps from 3 miles away, or a different school district? Huge mistake!
- What’s your competition? Luxury homes will almost always take longer than a mid-priced home nearby – they’re in entirely different markets with entirely different demands. You’ve got to know what market you’re in and what buyers will be comparing your home against! If you’re a short sale, you need to be competitive against other short sales. Don’t be satisfied that your home is less expensive than a “regular sale”. They are two entirely different things!
- MLS description and comments: Don’t waste this valuable space! What kind of comments are in the precious few words allowed to describe your home in the multiple listing service? I have seen inane things use up that space. It is imperative that the descriptions be strong. For example, not “nice kitchen” (that could mean almost anything), but instead “slab granite countertops” – specifics that buyers want to hear about!
- Commission rate: if your townhome is a “regular sale” and everything in your area is selling with a buyer’s agent commission rate offered at 2.5% or 3% but you’re offering 2%, guess what happens? Little or no traffic, that’s what! Remember that agents are selling homes as their livelihood, and while many will overlook a low commission, many others will not. (When I list homes I run the CR of similar homes so that my sellers can make an informed decision on this point.)
**This is more important than ever right now with restrictions on showings and open homes during the pandemic. Read more about how covid-19 is impacting the real estate market in Silicon Valley and how to sell a home during the quarantine in my articles on this blog.
There are many reasons why a Silicon Valley townhouse might not sell, but marketing correctly will give you the best odds for success and, in a sellers market as we are in, may bring you a higher sales price. If yours isn’t selling, have a look at the price, the photos, and the description and see if anything is amiss, and check what’s happening with comparable properties in the market. These are the most important areas to consider. Other issues may be at play, but if these are correct your home should sell despite other challenges.
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by Mary Pope-Handy | Jan 15, 2021 | Cupertino, Local History, MLS Lists, Neighborhoods
Cupertino was incorporated as a city only in 1955, long, long after the community had sprung up and had its own, distinct identity within Santa Clara County.
As a small village, Cupertino began at the intersection of Stevens Creek Road and Saratoga-Sunnyvale Road (now DeAnza Blvd) and was originally known simply as “West Side”. Since that name was so generic and would be confused with other places bearing similar names, the post office opted to give it a more distinguishable name in 1898. Because there was a nearby Cupertino winery and Cupertino Creek that name was applied to the post office and nearby stores.
Historic tidbit: the full name of this waterway was Arroyo San Giuseppe da Cupertino – which translates into English as St. Joseph of Cupertino Creek – by a Spanish padre by the name of Fr. Font who was the cartologist and diarist of the explorer Juan Bautista de Anza. Cupertino Creek is now known as Stevens Creek, by the way.
Today, the city of Cupertino is very vibrant and offers fabulous restaurants and shops but is best known for high tech (Apple headquarters especially) and above all, its outstanding schools, which often rank at the top of the list. For this reason more than any other, Cupertino houses tend to “hold their value” better than most other areas.
Cupertino, a view from Ridge Vineyards
How’s the Cupertino Real Estate Market?
I have written another article on this blog, Cupertino Real Estate Market Trends and Statistics, which is updated monthly with analysis on sales and listings as well as dynamic market statistics updating automatically every few days for Cupertino’s residential realty market. Please have a read!
More links for buying, selling and living in Cupertino California:
Here are some links you might find especially helpful if you move to Cupertino. (Also please visit my relocation website, Move2SiliconValley.com if moving here from out of the area!).
Cupertino A description of Cupertino, a city renowned for its schools, climate, and proximity to Silicon Valley employment, on my PopeHandy.com site.
Cupertino.org The City government website, with helpful resources such as the Services and New Resident Information page.
Find more Cupertino posts on this blog or view one of these:
Market comparison: Los Gatos, Saratoga, Cupertino and Los Altos
Fremont Older Open Space Preserve in Cupertino and Saratoga
Where are the high voltage power lines in Cupertino, Saratoga, Los Gatos, and Almaden Valley?
Silicon Valley Homes for Sale Near Golf Courses in the Foothill Areas
Finding scenic places in which to live in Silicon Valley
Houses & Homes for Sale in Cupertino
Below please find houses & duet homes listed on our local MLS for sale in Cupertino.
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by Mary Pope-Handy | Jan 14, 2021 | How's The Market?, Market Reports, Monte Sereno
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. 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, although milder than many of it’s more affordable neighbors.
- The average December sale took 39 days and was accepted at 96.6% of list price.
- In December the median sales price was $3,462,500 and the average was $3,364,170.
Though we’ve begun to see changes to the market since last March, we won’t know the full impact for a while. For now you can read more about the Coronavirus impact on real estate sales in my 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. So while current data is accurate, please disregard any DOM data for the months mentioned above.
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, January 12th, Monte Sereno is in a strong seller’s market with declining activity and other signs of winter cooling. Unlike other areas, this market didn’t experience the same cooling last spring as the rest of the valley, but continued to heat up through most of the year. Still, Monte Sereno has very few active listings, so the data for this chart can have large swings in data due to one or two outstanding properties.
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 have experienced some small increases this year. The top tier peaked earlier this year well above where it last peaked around late 2017 and early 2018. In the middle, the upper and lower price tiers also rose close to, if not a little above the 2017-2018 peak. Even the bottom tier is reaching prices it hasn’t seen since 2018, though not at it’s peak. All areas have seen winter cooling, so most areas are currently below those springtime highs again. Remember, low inventory 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 – closer to $4 million – a little steep for most folks!
Monte Sereno Real Estate Market Trends at a Glance:
There has been some cooling this December. Small pools of data can shift drastically very quickly, so it’s important to take this data with a grain of salt. The sale vs list price ratio fell a hair to 96.6% of list, and days on market slowed to 39 days. Pending sales and active inventory shrank below last month while closed sales grew. Sales and pending sales remain high year over year, and active listings continue to fall short. Despite the seasonal cooling it’s still an active seller’s market with high demand.
| Trends At a Glance |
Dec 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$3,462,500 (+0.7%) |
$3,437,500 |
$2,362,500 (+46.6%) |
| Average Price |
$3,364,170 (-20.5%) |
$4,231,250 |
$3,301,250 (+1.9%) |
| No. of Sales |
6 (+50.0%) |
4 |
4 (+50.0%) |
| Pending |
2 (-66.7%) |
6 |
1 (+100.0%) |
| Active |
5 (-16.7%) |
6 |
8 (-37.5%) |
| Sale vs. List Price |
96.6% (-0.3%) |
96.9% |
99.9% (-3.3%) |
| Days on Market |
39 (+20.3%) |
32 |
22 (+77.0%) |
| Days of Inventory |
25 (-42.5%) |
44 |
60 (-58.3%) |
And the month before:
| Trends At a Glance |
Nov 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$3,437,500 (+2.1%) |
$3,367,500 |
$3,450,000 (-0.4%) |
| Average Price |
$4,231,250 (+21.0%) |
$3,496,480 |
$3,504,000 (+20.8%) |
| No. of Sales |
4 (-33.3%) |
6 |
5 (-20.0%) |
| Pending |
6 (-25.0%) |
8 |
3 (+100.0%) |
| Active |
6 (-25.0%) |
8 |
9 (-33.3%) |
| Sale vs. List Price |
96.9% (-6.6%) |
103.8% |
96.1% (+0.8%) |
| Days on Market |
32 (+67.0%) |
19 |
56 (-42.7%) |
| Days of Inventory |
44 (+8.8%) |
40 |
52 (-16.7%) |
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.
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by Mary Pope-Handy | Jan 14, 2021 | How's The Market?, Market Reports, Santa Teresa (SJ)
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 well. Here are a few details from the latest monthly market update for Santa Teresa single family homes (read the full analysis below):
- It’s a hot seller’s market in Santa Teresa despite a seasonal decline in sales and available listings.
- The number of sold and pending listings remain elevated year over year with active listings below last year.
- The average December listing sold in only 16 days and at 105.8% of list price.
Santa Teresa (our MLS Area 2) includes a small bit of the 95123 zip code, which is more expensive, but most of that zip code 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.
Since the start of last March there have been many changes affecting the real estate industry. We’re starting to have a better view of the impact of the pandemic on the local real estate markets, but it will take a while to get the full picture. For now, read more about the Coronavirus impact on real estate sales in 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 for the previous months, though current data is accurate.
Weekly update from Altos Research with a “market profile” of San Jose’s Santa Teresa area, zip code 95119 for single family homes / houses:
With this week’s update (January 15th) the chart continues to look fairly bare. There are now only 3 active listings, down from 4 in the two months before. Small pools of data can make trend tracking less accurate. Nevertheless, Altos has shown a strong seller’s market in this area for a while, though it has been bouncing between strong and mild with extremely low inventory over the last year or so.
Weekly update from Altos Research with look at a glance of zip code 95138 for single family homes or houses:
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by Mary Pope-Handy | Jan 13, 2021 | How's The Market?, Market Reports, Santa Clara
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 it has been recovering from significant softening after the first quarter. What is key for home sellers is to price according to today’s market. This article contains the latest updated data and analysis for this market. Here are a few points from the monthly single family housing market in the City of Santa Clara:
- The December sale to list price ratio was a hot 105.8% of asking.
- More listings are currently on the market than this time last year.
- The average home takes only 22 days on market to sell.
The Real Estate Market for the City of Santa Clara
Last March brought some major changes that are affecting the market. While we are starting to see a clearer picture of how things have changed in this month’s data it will take a while to see the end result. To read more about the Coronavirus impact on real estate sales, check my 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. That means the current data will be accurate, but disregard the data from March through May in those fields.
Below there are charts for the market activity over the last few months for single family homes in Santa Clara. Market activity has been on the rise for months, and low inventory from the past year 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.)
According to Altos, it’s a strong seller’s market right now with steady market action.
Data from my Real Estate 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
Last year we never saw a strong seasonal cooling in winter, so 2020 began with a hot market getting progressively hotter towards spring. Things started to change in spring and after March the market was hit with some significant cooling.
This December active listings, pending, and closed sales all fell from the month before while staying above last year’s numbers. The sales to list price ratio rose again to a fiery hot 105.8% of asking. For perspective, however, in 2020 this ratio fell from a whopping 111.9% in March to a low of 100.3% by June. Prices are not far from this time last year, and homes are selling quickly, averaging at 22 days on market. High demand and low inventory are fueling a hot market in Santa Clara. It looks like we will have another hot winter market in 2021.
| Trends At a Glance |
Dec 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,390,440 (+0.2%) |
$1,388,000 |
$1,400,000 (-0.7%) |
| Average Price |
$1,416,030 (-1.2%) |
$1,433,740 |
$1,399,090 (+1.2%) |
| No. of Sales |
44 (-26.7%) |
60 |
40 (+10.0%) |
| Pending |
32 (-34.7%) |
49 |
14 (+128.6%) |
| Active |
14 (-50.0%) |
28 |
8 (+75.0%) |
| Sale vs. List Price |
105.8% (+0.6%) |
105.1% |
101.8% (+3.9%) |
| Days on Market |
22 (+34.1%) |
16 |
24 (-10.3%) |
| Days of Inventory |
10 (-29.5%) |
14 |
6 (+59.1%) |
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by Mary Pope-Handy | Jan 13, 2021 | Cambrian Park (SJ), How's The Market?, Market Reports, Most Popular Articles, Multiple Offers
The Cambrian or Cambrian Park district is a popular residential market with good “bang for your buck.” It remains a strong seller’s market despite some seasonal cooling trends. This article provides a detailed look at the residential real estate markets of Cambrian with live and monthly updates. Here are some points of note from the latest monthly update for Cambrian Park single family homes:
- This December the Cambrian market returned with 62 closed sales, 41 pending sales, and only 9 active listings.
- Days on market are low with a 12 day average.
- Average and median sales prices were approximately 14% above last year.
The Cambrian Park Real Estate Market
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 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 January 13th) I pulled the single family home sales for Cambrian (MLS area 14) for the last 30 days (mostly December but possibly some January) 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 48 properties sold in the last 30 days, 32 of them or about 67% 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 $1,330,031 and average sale price $1,412,465 (averaging an overbid of $82,434 or approximately 106.2% of list price). In total, 4 in that group sold below list price, 1 sold at list price, and the large majority, 27 properties, sold over asking.
The 16 slower sales, roughly 33% of all sales, were on the market between 15 and 103 days. Seven sold above list price, 2 sold at asking, and the remaining 7 sold below.
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by Mary Pope-Handy | Jan 12, 2021 | Evergreen (SJ), How's The Market?, Market Reports
San Jose’s Evergreen district is in a strong seller’s market with extremely low 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 with an average of two weeks to sell.
- The sales to list price ratio was 104% with properties regularly selling above asking.
- Current average and median sale price are lower month over month and year over year.
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. In this article I’ll provide some information on this section of the valley as well as statistics and analysis on the current real estate market trends, which will be updated periodically. Just want the Evergreen real estate market update? Please scroll down!
Evergreen Real Estate Market Report: Single Family Homes
Before we begin, if you’re looking to learn more about coronavirus’ impact on real estate sales please follow the link to my post on that subject. The changes effected to combat the spread of Covid-19 began mid-March, and while the data in the months since will reflect these changes this is just the tip of the iceberg and we will not understand the full effect this has on the market until it is in the rear view.
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. Data for the current months are now accurate, however those previous months mentioned earlier will be affected by this pause.
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.
After some cooling the month before, the Evergreen area showed signs of slight warming this December. Sales were consistent with the month before and pending sales rose a hair with both up year over year. Active inventory, on the other hand, was cut by half month over month and less than a third of last year! The sales vs list price ratio rose to 104%, extremely hot and well above last year. Evergreen homes are in a clear seller’s market!
| Trends At a Glance |
Dec 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,325,500 (-2.9%) |
$1,365,000 |
$1,340,000 (-1.1%) |
| Average Price |
$1,437,910 (-2.2%) |
$1,469,740 |
$1,395,290 (+3.1%) |
| No. of Sales |
38 (0.0%) |
38 |
35 (+8.6%) |
| Pending |
38 (+5.6%) |
36 |
17 (+123.5%) |
| Active |
10 (-52.4%) |
21 |
35 (-71.4%) |
| Sale vs. List Price |
104.0% (+0.9%) |
103.1% |
100.4% (+3.6%) |
| Days on Market |
14 (-14.1%) |
16 |
39 (-64.2%) |
| Days of Inventory |
8 (-50.7%) |
16 |
30 (-73.7%) |
Altos Research: Evergreen real estate market for single family homes or houses by zip code
95148
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by Mary Pope-Handy | Jan 12, 2021 | Almaden Valley (SJ), Alum Rock, Alviso (SJ), Berryessa (SJ), Blossom Valley (SJ), Buena Vista, Cambrian Park (SJ), Central San Jose, Downtown San Jose, East San Jose (SJ), Evergreen (SJ), How's The Market?, Market Info, Market Reports, Most Popular Articles, Naglee Park, Neighborhoods in Almaden, Neighborhoods in Cambrian, Neighborhoods in Willow Glen, Rose Garden area, San Jose (all areas), West San Jose, Willow Glen (SJ)
The San Jose real estate market is a strong seller’s market, and it has been for months. Available inventory continues to shrink and demand remains high. This article is updated monthly with the latest market data. Here’s a sample of the latest for San Jose’s single family housing market:
- There was a significantly hotter seller’s market in December 2020 compared to the year before.
- San Jose homes took an average of only 16 days to sell.
- The average sale to list price ratio was 104.1%, a small decrease month over month and 3.5% higher than the year before.
This spring the market experienced mild unseasonable cooling, a likely result of the pandemic, though it’s been in recovery since and saw increasingly hot markets through summer and into autumn. Winter has finally begun to show some mild seasonal cooling. This is visible in the San Jose housing market data below, and 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 January 12th) shows on the graph a steadily retreating inventory, lengthening days on market, and a stable market action. San Jose is in a strong seller’s market according to Altos, and holding. The Median List Price (for condos and houses combined) is usually stable around $1,250,000, though it was nearer to $1.3 mil around late summer and early autumn.
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by Mary Pope-Handy | Jan 11, 2021 | How's The Market?, Market Reports, Morgan Hill
How is the Morgan Hill real estate market? This article will include data, trends and statistics for both houses/single family homes and condominiums/townhouses (in the second half of the article). Here’s a bit of what you’ll find in the latest monthly update for Morgan Hill’s single family housing market:
- The sales to list price ratio for homes in December was 101.8%.
- Active inventory remains low, currently below half of what it was this time last year.
- Homes are selling quickly, averaging only two weeks on market.
The Morgan Hill Real Estate Market
If you’re looking to learn more about Coronavirus’ impact on real estate sales, please check my post on that subject. This month’s data gives us only a small window into the changes the pandemic has had on the market.
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. This will not affect current numbers, but will affect those previous months data.
The cities of Morgan Hill and Gilroy are usually a bit less in demand than parts of Santa Clara County which are either tech magnets or closer to these big businesses. So if most of the Silicon Valley has a sale price to list price ratio of anywhere from 100% to 105%, it’s generally lower here, making the home buying conditions calmer for weary buyers, though still a sellers market.
First up, the market profile from Altos Research – this is updated weekly, so check back often! You can also view the weekly newsletter through the link below, where you can also subscribe to receive this update every week in your inbox. Prefer a particular zip code instead? You can type in your desired zip in the “Search Anywhere” line and then request that particular weekly update by email.
Altos Research weekly report for all of Morgan Hill
Altos weekly report for 95037 only
Altos weekly report for 95038 only
The latest Altos update (January 12th) shows steadily decreasing inventory, growing days on market, and falling market action. The current market remains in a strong seller’s market.
Trends at a Glance for Single Family Homes in Morgan Hill
Below is a chart with basic info, but to see more information, you may click on this link to see the Real Estate Report for Morgan Hill. This December saw some mild cooling in regards to the number of sales and active inventory. Still, sales were well above this time last year, and inventory remains under half of what it was in 2019. But December also had a higher sale to list price ratio (both month over month and year over year), and properties took less time to sell, averaging a speedy 15 days on market. It’s still a active seller’s market with high demand competing for a small pool of available homes.
| Trends At a Glance |
Dec 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,097,500 (-0.2%) |
$1,100,000 |
$948,800 (+15.7%) |
| Average Price |
$1,201,370 (+4.5%) |
$1,150,110 |
$1,053,610 (+14.0%) |
| No. of Sales |
50 (-13.8%) |
58 |
37 (+35.1%) |
| Pending |
36 (-42.9%) |
63 |
22 (+63.6%) |
| Active |
29 (-21.6%) |
37 |
59 (-50.8%) |
| Sale vs. List Price |
101.8% (0.0%) |
101.7% |
98.4% (+3.5%) |
| Days on Market |
15 (-10.7%) |
17 |
42 (-63.0%) |
| Days of Inventory |
17 (-5.9%) |
19 |
48 (-63.6%) |
And the month before:
by Mary Pope-Handy | Jan 11, 2021 | Campbell, Condos & Townhomes, How's The Market?, Market Reports, Most Popular Articles
How is the Campbell real estate market? Campbell is still in a strong seller’s market and remaining hot despite some seasonal cooling this winter. This article, updated monthly, offers data and analysis on the residential real estate market in this popular Silicon Valley community. Here’s a few points from the latest update on Campbell’s single family housing market:
- The sales to list price ratio for home sales last month was 102.9%.
- These sales had a quick turnover with an average of 2 weeks on the market.
- Active inventory dropped sharply in December while sales grew.
The Campbell, CA Real Estate Market
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:
As of January 12th the Altos chart showing Campbell, CA single family homes is in a strong seller’s market with declining market action, shrinking inventory, and lengthening days on market in line with seasonal winter cooling.
And now – here are some quick stats, care of my RE Report for Campbell:
(more…)
