by Clair Handy, Mary Pope-Handy | Oct 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 with some ups and downs in early autumn.
- September sales data was skewed by some exceptional luxury home sales, more on that below.
- 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.
Though we’ve seen plenty of changes to the market since March 2020, we won’t know the full impact until it’s behind us. For now you can read more about the Coronavirus impact on real estate sales in my post on the topic.
Early on in 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, 2020. 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 dates mentioned above.
There are no condominiums or townhomes in Monte Sereno at present (although we are watching the development at La Rinconada closely). 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.
As of the latest update, October 14th, Monte Sereno is in a strong seller’s market and climbing after a recent dip in market action. Unlike other areas, this area didn’t experience the same cooling last spring as the rest of the valley, but continued to heat up through most of 2020. Winter of 2021 finally saw a cooling trend in this area, but it didn’t last long. 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:
Prices are declining again after hitting a peak around April 2021. Spring of 2021 beat previous highs from the two prior springs, reaching prices that haven’t been seen since 2018. Seasonally typical cooling appears in the 2021 chart, and while prices remain high compared to 2019 they have fallen below 2020. That is mostly due to last year’s delayed spring activity. Early pandemic cooling is clearly visible in these charts, as is the resulting summer rise. 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 – a little steep for most folks!
Monte Sereno Real Estate Market Trends at a Glance:
This September had some wild swings! Small pools of data in this diverse market can shift the numbers very drastically very quickly, so it’s important to take this table with a grain of salt.
This month, data is based on only 4 closed sales, which is not uncommon in this community. The sale vs list price ratio shot up to 104.6% of asking, and days on market sped to only 10 days. Meanwhile prices skyrocketed from the month before and well above last year! But that may be due to one or two luxury sales and so few sales overall. Active inventory shrank month-over-month, still a little higher than last year.
The Monte Sereno housing market continues to have steady activity and remains in a seller’s market with regular demand.
| Trends At a Glance |
Sep 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$6,550,000 (+31.3%) |
$4,990,000 |
$3,000,000 (+118.3%) |
| Average Price |
$6,350,000 (+20.8%) |
$5,255,830 |
$3,171,800 (+100.2%) |
| No. of Sales |
4 (-33.3%) |
6 |
5 (-20.0%) |
| Pending |
10 (+100.0%) |
5 |
8 (+25.0%) |
| Active |
10 (-16.7%) |
12 |
8 (+25.0%) |
| Sale vs. List Price |
104.6% (+3.8%) |
100.7% |
105.2% (-0.6%) |
| Days on Market |
10 (-83.6%) |
61 |
17 (-39.8%) |
| Days of Inventory |
73 (+20.8%) |
60 |
46 (+56.3%) |
Those are some pretty dramatic shifts! So what happened? Well, today (October 14th) the MLS shows 6 properties sold in August. List prices ranged from over $2.65 million to just shy of $9.5 million, and sales ranged from over $2.57 to $9.1 million. Of those sales, half would be considered luxury properties: the three selling above $6 million. Those selling between $2.5 – $3.2 million would not be considered luxury homes in this market. That said, these luxury homes, the $9.1 million sale in particular, skew the numbers for the rest of the chart and do not offer a clear picture of what’s happening in a large part of the market. So take this chart with a grain of salt.
Because so few houses sell per month, things like pricing can appear 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.
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by Clair Handy, Mary Pope-Handy | Oct 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 start to the autumn market in Santa Teresa, not far off from last month and much more competitive compared to last year.
- Available inventory continues to shrink and can’t keep up with demand.
- The average listing sold quickly in 13 days and at a high 107.9% 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 March 2020 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. Thinking of listing your home in this hot seller’s market? It’s a great time to do so if you are prepared! Read more about how to sell your home in 2021 through the linked article.
At the start of the lockdown, the Multiple Listing Service (MLS) temporarily stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. 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 (October 11th) the chart is steady in a strong seller’s market. Four active listings isn’t much, but it’s not atypical for the area. Small pools of data can make trend tracking less accurate. Sales are happening at breakneck speeds with an average of only 2 days on market! Altos shows a prolonged strong seller’s market in Santa Teresa 95119!
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 Clair Handy, Mary Pope-Handy | Oct 14, 2021 | How's The Market?, Market Reports, Santa Clara
The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/
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 continues to be impacted by the pandemic and lingering demand. What is key for home sellers is to price and prepare their home for sale according to today’s real estate market. This article contains the latest updated data and analysis. Here are a few points from the monthly single family housing market in the City of Santa Clara that you’ll find in more detail below:
- The September sale to list price ratio is a red hot 110.1% of asking.
- Sales remain high while available inventory is just above half of what it was last year.
- The average home took only 12 days on market to sell.
Thinking of selling your Silicon Valley home in 2021? Follow the previous link to my article on how to effectively sell your property in these unique times. It’s a blazing hot seller’s market in most of the South Bay!
The Real Estate Market for the City of Santa Clara
March 2020 brought some major changes that are affecting the market. While we are seeing how some of those impacts have changed the market in recent month’s it will take a while to see the full picture. To read more about the Coronavirus impact on real estate sales, check my post on the topic.
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, 2020. 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 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.)
According to Altos, it’s a strong seller’s market right now with a rising market action after a recent decline, low days on market, and shrinking inventory.
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, 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!
This September was another busy month for Santa Clara’s housing market! Closed sales and available inventory dipped below the month before, but pending sales held strong. Pending sales remain high compared to last year’s numbers, while closed sales fell short and active listings are only a drop in the bucket! The sales to list price ratio rose to 110.1% of asking. For a little perspective, this number usually rises through spring, but in 2020 this ratio fell from a whopping 111.8% in March to a low of 100.3% by June. Homes are taking just under 2 weeks to sell at an extremely quick 12 days on market.
High demand and low inventory are fueling a hot market in Santa Clara, which is experiencing another red hot spring market in 2021!
| Trends At a Glance |
Sep 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,668,500 (+5.6%) |
$1,580,000 |
$1,412,500 (+18.1%) |
| Average Price |
$1,658,400 (-0.2%) |
$1,661,870 |
$1,465,000 (+13.2%) |
| No. of Sales |
50 (-10.7%) |
56 |
58 (-13.8%) |
| Pending |
67 (+1.5%) |
66 |
61 (+9.8%) |
| Active |
26 (-7.1%) |
28 |
45 (-42.2%) |
| Sale vs. List Price |
110.1% (+0.1%) |
110.0% |
102.8% (+7.1%) |
| Days on Market |
12 (+13.7%) |
10 |
21 (-43.8%) |
| Days of Inventory |
15 (+0.5%) |
15 |
23 (-33.0%) |
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by Mary Pope-Handy, Clair Handy | Oct 13, 2021 | Evergreen (SJ), How's The Market?, Market Reports
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:
- September sales moved quickly in around 1.5 weeks on average, taking just 11 days to sell.
- The sales to list price ratio is a fiery 105.9% 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. 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 of 2020, and while the data in the months since continue to 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.
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, 2020. 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.
The Evergreen area saw some dramatic ups and downs in September. Closed sales and active inventory dropped while pending sales shot up month-over-month. Compared to last year it’s a more dramatic version of the same – pending sales remain sky-high while closed sales and available listings are falling behind. The sales vs list price ratio cooled to a still hot 105.9%, a whopping 3.2% higher than last year, and sold quickly averaging just 11 days on market. Evergreen homes are in a clear seller’s market!
| Trends At a Glance |
Sep 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,485,000 (-8.8%) |
$1,627,500 |
$1,220,000 (+21.7%) |
| Average Price |
$1,663,790 (-12.3%) |
$1,896,300 |
$1,291,220 (+28.9%) |
| No. of Sales |
32 (-33.3%) |
48 |
45 (-28.9%) |
| Pending |
77 (+28.3%) |
60 |
46 (+67.4%) |
| Active |
24 (-17.2%) |
29 |
29 (-17.2%) |
| Sale vs. List Price |
105.9% (-2.6%) |
108.7% |
102.6% (+3.2%) |
| Days on Market |
11 (-7.2%) |
12 |
23 (-49.9%) |
| Days of Inventory |
22 (+20.0%) |
18 |
19 (+16.4%) |
Altos Research: Evergreen real estate market for single family homes or houses by zip code
95148
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by Mary Pope-Handy, Clair Handy | Oct 13, 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 remains unbelievably low and can’t keep up with the high demand. 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:
- The September 2021 market was distinctly hotter than the year before.
- San Jose homes took an average of only 14 days to sell.
- The average sale to list price ratio was a red hot 108.1%.
Last year the spring market experienced mild unseasonable cooling, but from the summer of 2020 on it’s been heating up in San Jose. Early winter saw a hint of seasonal cooling, but by mid-winter it was heating right back up again! Finally, after a hyper-competitive spring, summer 2021 finally experienced some slight market cooling. This is shown in the San Jose housing market data below, and I’ve also experienced it in my own real estate practice.
These charts will not reflect the full effect of the pandemic on the market. It will take a while before we see the full picture on how it impacted realty, but for now you can read about the Coronavirus’ impact on real estate sales on my other post.
Early on in 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 of 2020. 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 October 11th) shows steady low inventory, speedy days on market, and high market action bouncing back after a recent decline. San Jose is in a strong seller’s market and holding, according to Altos! The Median List Price (for condos and houses combined) is usually stable around $1,250,000, though it has been getting nearer and nearer to $1.3 mil since last year and, around the spring peak was sticking close to $1.35!
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by Mary Pope-Handy, Clair Handy | Oct 12, 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:
- September remained a red hot seller’s market, more competitive than last year despite a smaller pool of sales and inventory.
- The sales to list price ratio for homes dipped to a red hot 105.1% of asking.
- Homes sold in an average of just 11 days, a rapid turnover!
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.
At the start of the pandemic here in Silicon Valley, the Multiple Listing Service (MLS) paused the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. 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 (October 11th) shows a shrinking inventory, slowing days on market, and a decline in market action. That said, it’s still hot and 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, to see more click on this link to see the Real Estate Report for Morgan Hill. This September remained extremely active with some ups and downs month-over-month. Closed sales plunged, pending sales grew, and active inventory shrank a hair from the month before. Compared to last year, closed sales, pending sales, and active inventory all fell behind. That said, this time last year the market was rebounding from a low point brought on by the initial pandemic lockdown. Homes continue to sell more than twice as fast as a year ago and with higher overbids. It’s an active seller’s market with high demand competing for a tiny pool of available homes.
| Trends At a Glance |
Sep 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,325,000 (0.0%) |
$1,325,250 |
$1,072,000 (+23.6%) |
| Average Price |
$1,452,620 (-0.6%) |
$1,461,340 |
$1,155,470 (+25.7%) |
| No. of Sales |
32 (-30.4%) |
46 |
45 (-28.9%) |
| Pending |
61 (+13.0%) |
54 |
74 (-17.6%) |
| Active |
36 (-5.3%) |
38 |
57 (-36.8%) |
| Sale vs. List Price |
105.1% (-1.2%) |
106.5% |
101.4% (+3.7%) |
| Days on Market |
11 (-53.4%) |
23 |
28 (-61.7%) |
| Days of Inventory |
33 (+31.6%) |
25 |
37 (-11.2%) |
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by Clair Handy, Mary Pope-Handy | Oct 12, 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 with signs it’s coming out of peak spring activity. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are 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 shot up to a red hot at 108.9%.
- Turnover was extremely fast with an average sale in 14 days on market.
- The data shows that this September saw clear market warming!
The Campbell, CA Real Estate Market
It’s hard to predict what’s coming next with all that’s happened since spring of 2020. The charts below certainly show the impact of the pandemic on the real estate 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.
At the beginning 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, 2020. 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 been seeing those numbers again (and sometimes many more!) in the 2021 market with a long (and growing) backlog of demand. Competition is high enough that we aren’t seeing many buyers with normal contingencies. This summer we can reasonably anticipate a decline in activity from a spring peak, but the real estate market will probably remain hot throughout the year. We’ll just have to wait and see!
Here’s a quick view of the Campbell real estate market stats from Altos Research, using LIST prices:
As of October 11th the Altos chart showing Campbell, CA single family homes is in a strong seller’s market with climbing market action, falling inventory, and a fast median days on market. Homes are still hot in Campbell!
And now – here are some quick stats, care of my RE Report for Campbell:
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by Mary Pope-Handy, Clair Handy | Oct 11, 2021 | Almaden Valley (SJ), How's The Market?, Market Reports
The Almaden Valley real estate market is red hot with some slight cooling as we leave the peak spring market. There’s plenty of demand, and inventory remains well below the norm. All in all, Almaden Valley is in a continual, active seller’s market. Here are a few data points from the most recent update, which you will find in more detail below:
- Closed sales fell again while active inventory and pending sales grew in September.
- The sales to list price ratio remains extraordinarily high, but cooled to an average of 104.9% of asking.
- Homes are selling at breakneck speed in an average of just 12 days on market.
Before we begin, it’s important to recognize how much has changed since March, 2020. Over time we will have a better grasp over the pandemic’s affect on the real estate market. For more on the impact of the pandemic on the market, check out my post titled Coronavirus impact on real estate sales.
A large part of the story is inventory levels. I pulled this data, below, on October 11th, from the MLS. (Click on image to enlarge.)
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). Closed sales have plunged below last month and last year. Pending sales have shot up month-over-month and nearly kept up with last year. Active inventory grew a little since the month before, finally overtaking where it was a year ago. That small inventory is selling quickly, averaging a lightning fast 12 days on market and with a hot, though cooling, sale to list price ratio of 104.9%. It’s a fierce seller’s market in Almaden Valley homes!
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 |
Sep 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$2,050,000 (+6.8%) |
$1,920,010 |
$1,700,000 (+20.6%) |
| Average Price |
$2,094,600 (+3.2%) |
$2,029,700 |
$1,832,740 (+14.3%) |
| No. of Sales |
21 (-32.3%) |
31 |
32 (-34.4%) |
| Pending |
42 (+35.5%) |
31 |
43 (-2.3%) |
| Active |
22 (+22.2%) |
18 |
17 (+29.4%) |
| Sale vs. List Price |
104.9% (-3.5%) |
108.8% |
102.5% (+2.4%) |
| Days on Market |
12 (+4.0%) |
11 |
21 (-43.8%) |
| Days of Inventory |
30 (+74.4%) |
17 |
15 (+97.2%) |
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by Clair Handy, Mary Pope-Handy | Oct 11, 2021 | Cambrian Park (SJ), How's The Market?, Market Reports, Most Popular Articles, Multiple Offers
Cambrian buyers keep hoping that prices will drop and inventory will rise, but so far we aren’t seeing it. Here are some points of note from the latest monthly data for Cambrian Park single family homes:
- Home prices are down a hair month-over-month and remain significantly high year-over-year (both median and average prices) for single family houses
- Closed sales shot up from the month before and remain above last year
- Available inventory was just 31 houses on the last day of September, less than the month before and a hair above last year
The Cambrian Park Real Estate Market
With good schools and easy proximity to Los Gatos, Campbell, Willow Glen, and traffic routes, Cambrian has that “enduring value” that home buyers seek. Sellers aren’t selling – they like it there and appreciate their low taxes from staying in their homes for many years. The result is a continuous demand that outpaces supply, with prices going to unreal seeming places.
Cambrian single family homes trends at a glance – numbers from the RE Report
It’s a red hot market for Cambrian single family homes! Only the slightest cooling is perceptible month-over-month, which also had a spike in closed sales and shrinking inventory. Compared to last year, it remains a much stronger market.
Please see the whole Cambrian Real Estate Report for charts, stats and more.
(Mobile viewers, swipe to scroll if the graph you are viewing extends beyond the screen.)
Trends at a Glance
| Trends At a Glance |
Sep 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,525,000 (-6.2%) |
$1,626,000 |
$1,345,000 (+13.4%) |
| Average Price |
$1,618,020 (-2.4%) |
$1,658,120 |
$1,349,530 (+19.9%) |
| No. of Sales |
82 (+34.4%) |
61 |
76 (+7.9%) |
| Pending |
84 (-2.3%) |
86 |
76 (+10.5%) |
| Active |
31 (-13.9%) |
36 |
30 (+3.3%) |
| Sale vs. List Price |
109.4% (-0.7%) |
110.2% |
103.2% (+6.0%) |
| Days on Market |
13 (+19.4%) |
11 |
19 (-30.8%) |
| Days of Inventory |
11 (-38.1%) |
18 |
11 (-4.2%) |
Learn about the Cambrian months of inventory, or absorption rate, by elementary school district. (Please note that the months of inventory post is not updated as often as this monthly market analysis.)
The condo and townhouse real estate market for San Jose 95124 & 95118
The townhouse and condo market (also from my Real Estate Report) – with great schools and relatively affordable pricing, this market segment is usually popular and remains hot, although nowhere near as hot as the single family housing market!
Pricing for this market has fallen both year-over-year and month-over-month. With just 18 sales, though, the actual values may not have shifted so much as what properties are being listed and selling. Some townhomes are going to sell for over a million dollars, but tiny studio condos may be just a bit more than half that much. If one year a lot of luxury townhomes with 2000 SF sell, but the following year it’s mostly the smallest condos, the numbers would be skewed. So please take it with a grain of salt.
Condos and townhomes are also hotter than last year and cooling month-over-month, but the market isn’t as hot as it is for single family homes.
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by Mary Pope-Handy | Oct 8, 2021 | How's The Market?, Market Reports, Milpitas, Most Popular Articles
The Milpitas real estate market has been one hot seller’s market in Santa Clara County! Altos Research has called it a strong seller’s market for many months now, and it’s showing no signs of cooling down! Here are a few more points from the latest update to the Milpitas single family homes market, with more data and analysis in the article below:
- September’s sales remained strong and active inventory plunged month-over-month.
- Homes are regularly bid well over list price with sales averaging at 105.5% of asking!
- The average Milpitas home is taking around 2 weeks to sell, and often less.
The Milpitas Real Estate Market
Despite unusual circumstance last year, Milpitas has maintained a favorable market for the well-prepared seller, though certainly not a typical market. This is in keeping with trends we are seeing throughout the San Francisco Bay Area and Silicon Valley: well priced homes are selling over list price, and usually above peak pricing from spring 2018! That said, sellers don’t be tempted to list your home too high. Price it appropriately to today’s market and you will have more interested buyers willing to compete for your home, perhaps even starting a bidding war!
A lot has changed since March 2020. Over time we’re beginning to get a clearer view of how covid-19 is affecting the market, but it will be a while before we know the full impact of the pandemic on real estate sales. For now, follow the latest market trends in this article and check out my post: Coronavirus impact on real estate sales, to learn more about pandemic restrictions on our local market.
During the initial 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, 2020. 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:
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