Almaden Valley (SJ)
Almaden Valley San Jose
The Almaden Valley real estate market conditions are favorable to sellers, but buyers have a lot in their corner, too.
For sellers, there is still an active market, but properties are taking longer to sell – the average days on market in December was a warm 52 days. This is still fast, under two months, when you consider that this is all homes that go pending: all price points, school districts, locations…
Further, there are as many pending sales as active listings, indicating that it’s not too hard to sell a well priced property.
Got a hard to sell house? This is your market, sellers. 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 96.4%, which actually falls into “neutral” rather than a buyer’s or a seller’s market.
For buyers, prices may be softer than both the month before and the year before (appx 6-10% year over year).
Almaden Valley months of inventory
Just now I logged onto the MLS. As of today (January 7th), there are 13 houses or duet homes (not duplexes, but attached single family homes) for sale in San Jose, CA 95120, aka Almaden Valley. Of those, 8 (or about 62%) are offered at under $2 million. In the last 30 days, 20 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, 13 divided by 20 = 0.65 months of inventory. That’s pretty hot and suggests 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 has been on the decline, but sales are keeping up indicating demand has not let up. The sale vs list price ratio dropped a little, but has been steady between 97%-99% for months now. Days on market are up from last month and a year ago. Overall, market conditions are active despite what may be seasonal cooling patterns. It remains a seller’s market.
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||Dec 2019||Previous Month||Year-over-Year|
|Median Price||$1,465,000 (+7.5%)||$1,362,500||$1,560,000 (-6.1%)|
|Average Price||$1,407,140 (-2.5%)||$1,443,040||$1,573,690 (-10.6%)|
|No. of Sales||23 (-4.2%)||24||13 (+76.9%)|
|Pending||14 (-51.7%)||29||12 (+16.7%)|
|Active||14 (-22.2%)||18||15 (-6.7%)|
|Sale vs. List Price||96.4% (-2.6%)||98.9%||98.4% (-2.1%)|
|Days on Market||52 (+47.3%)||36||31 (+67.1%)|
|Days of Inventory||18 (-16.0%)||22||35 (-47.2%)|
The San Jose real estate market is a strong seller’s market, though pricing is close to flat for November sales (contracts ratified in October) as compared to the prior month and year. However, in November we saw a big uptick in buyer interest. 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 reak time market San Jose housing market profile (last updated 12/24/2019 as of this writing) shows on the graph a steady decline of the list prices, declining inventory, rising days on market, and declining rent rates. That being said, the Market Action Index still shows a Strong Seller’s Market that’s going nowhere fast. The Median List Price (for condos and houses combined) is approximately $1,100,00.
A pretty neighborhood with Almaden Valley’s best schools, Orchard Creek includes 179 comfortably sized single family homes on good sized lots. Many have been updated or remodeled over the years, and some expanded.
The neighborhood has gently winding streets and is generally very well kept up.
Where is Orchard Creek?
The Orchard Creek neighborhood is in San Jose, 95120, in the scenic Almaden Valley. It is located between Calcaterra Creek to the west and Almaden Expressway to the east, a little north of the split between Almaden Expressway and Almaden Road. It sits adjacent to the Glencrest area to the west, Cathedral Oaks Park on the southwest, Almaden Springs to the south, and the expressway to the east.
Streets include Amur Creek, Anjou Crek, Bartlett Creek, Calcaterra, Casaba Creek, Macintosh Creek, and Pippin Creek. For the truly curious, this is tract number 5436.
The public schools include Williams Elementary, Bret Harte Middle, and Leland High.
What are homes like in Orchard Creek?
The Almaden Winery neighborhood, just off Blossom Hill Road in San Jose, has a rich and interesting past, dating back to the mid 1850s when the site was first planted with grape vines. It was the first winery in Almaden Valley and one of the oldest in the state of California. (It survived the prohibition period by getting licensed to make sacramental wine and by bottling grape juice.)
In this post I’ll share some photos of the neighborhood with you, explain about the three different builders/developers and show you where to find each one.
A San Jose tradition since 1976, the Almaden Valley Art & Wine Festival is a very enjoyable non-profit fundraiser that appeals to just about everyone in Silicon Valley!
This year’s event runs Sunday September 15th from 10am – 6pm at Almaden Lake Park (located at Almaden Expressway and Coleman Road, near the base of Almaden Valley and nearly touching the Blossom Valley area of San Jose).
This one day event is sponsored by the Almaden valley Women’s Club and the proceeds all go to charitable causes. The website states that “All proceeds of the festival are donated to non-profit organizations and schools in our community and also support merit-based scholarships to deserving students.”
To get all the details, please visit the Almaden Valley Women’s Club website. I hope to see you there!
This corner of Almaden is located at the end of Serenity Way near Glenview Park and Cathedral Park in the Williams area. The Glencrest patio homes area is shaped like a pentagram (a five sided object) so is easy to spot on the map.
The community enjoys a shared pool. The outside ring of homes are single family houses on large, normal lots of about 10,000 to 13,000 square feet (on Valley Quail Circle, Hollow Lake).
The more modest patio or zero lot line properties are found on the inside streets and have about 6,000 SF lots – the streets are Quail Creek Circle, Mountain Quail Circle, and Quail Cove Way.
The Glencrest homes were built by Shapell, a company which is known for a very high quality. Most were built in 1987 or 1988.
The big draws for these homes are as follows:
- Top Almaden schools are close by: Williams, Bret Harte and Leland
- Shappell is a highly regarded builder, perhaps the most valued in Santa Clara County
- The Glencrest area homes, whether on normal lots or zero lot line / patio homes, are fairly young by local standards
Because the Glencrest patio homes are smaller, they are more affordable. Many people consider them entry level houses for Williams Elementary School. For this reason, real estate sales in the Glencrest area often command surprisingly high prices given that structures are built on one of the property lines and that there are no windows on that side of the home.
There are some negatives to any area. Here, the interior streets are narrow, and of course a zero lot line is not ideal. Water and hillside locations don’t help homes, so it’s important to manage drainage effectively.
Real estate listings and homes for sale in and near the Glencrest neighborhood of San Jose’s Almaden Valley: please view using the following link
The Villas of Almaden in San Jose 95120 (sometimes called The Almaden Villas) is a gated community at the intersection of Meridian Avenue and Coleman Road in Almaden Valley. It is very convenient to schools, shopping, and major commute routes. Residents there enjoy beautiful views of the two nearby parks and hills. Some homes are set with a bit of an elevation and soak in sweeping views.
The Villas of Almaden: condo ownership
The complex consists of 180 homes held in condo ownership, some of which are detached houses, and others are attached townhouse or duet style homes. When listed for sale, the detached houses are often shown under condos due to the ownership type.
A big plus with the condo ownership is the easy lifestyle: someone else will do the gardening!
Villas of Almaden details
Construction dates span 1980 to 2000, and the average year built is 1986. Home sizes run from 1748 SF to 4204 SF (per county records, that is very unusually large for this area) and the average home features 2412 SF.
Lot sizes vary from 2432 to 6653 square feet, and the average is 3711 SF.