Mary Pope-Handy and Clair Handy 408 204-7673 mary@popehandy.com
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The San Jose Real Estate Market Analysis

by , | Mar 13, 2023 | 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), 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)

San Jose Real Estate MarketThe San Jose real estate market remains in transition. While it is still a clear seller’s market, things are much cooler than what they were a year ago. Demand may have shrunk, but so has inventory. We’re seeing fluctuating cooling and heating rather than the dramatic rise and plunge from mid-2022.

First, some quick data from my RE Report via the bullets and chart below. There appears to be a small amount of undercounting or overcounting between the RE Report and MLS Listings, but the information is still good for tracking trends.

  • The February 2023 sale price to list price ratio for San Jose single family homes jumped to 102.0% of asking (+3.4% from last month per RE Report). For the MLS stats we pulled today, however, it shows 101.3% in February, up from 98.6%. Either way, the average home is once again selling over list price in San Jose.
  • Home prices are down approximately 18% – 20% from last year (RE Report), and month-over-month it seems like the lower-price tier of the market is experiencing more sales with a higher median price and a lower average price across this city since the month before.
  • The days on market shrank a hair from an average of 31 in January to 29 days in February (RE Report). When I pulled them directly, it was 33 in January and 31 in February (not shown below). Either way, it’s speeding up slightly and averaging close to a month, which makes it a clear seller’s market.

War, inflation, stock market, recession concerns – and real estate

The market slowed down at the start of winter, and realistic sellers have been positioning their homes accordingly. February showed signs of a warmer spring market on the way, although inventory and sales remain low. There are loads of micro markets that influence how well a given home does, too.

 

Inventory - San Jose CA listings of houses / Single Family Homes for sale

 

Inventory remains severely low – if you’re an active home buyer, it is slim pickings!

The data below in the “trends” chart is from our Real Estate Report for the City of San Jose.

San Jose Real Estate Market Trends at a Glance (RE Report)

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $1,350,000 (+0.4%) $1,345,000 $1,650,000 (-18.2%)
Average Price $1,434,420 (-8.0%) $1,558,990 $1,778,760 (-19.4%)
No. of Sales 161 (+24.8%) 129 262 (-38.5%)
Pending 534 (+23.3%) 433 567 (-5.8%)
Active 223 (-8.2%) 243 211 (+5.7%)
Sale vs. List Price 102.0% (+3.4%) 98.7% 118.0% (-13.5%)
Days on Market 29 (-6.0%) 31 9 (+218.8%)
Days of Inventory 37 (-33.8%) 57 22 (+72.0%)

 

Please keep reading below for more data and market analysis.

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Almaden Valley Real Estate Market Conditions

by , | Mar 12, 2023 | Almaden Valley (SJ), Market Reports

Almaden View Real Estate Market Conditions San Jose 95120 - photo with Mt Umunhum in backgroundThe Almaden Valley real estate market has some mixed data points, but overall, it’s a seller’s market. The average and median sale prices are down for houses, but the sale to list price ratio has risen, the days on market is a swift 17, and the pending (37) far outstrip the active listings (17).

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). They’re having a bit of a technical issue with their data collection, so not every number is exactly correct, however it is still a useful tool for market analysis.

 

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $1,802,500 (-24.5%) $2,387,500 $2,675,000 (-32.6%)
Average Price $1,937,790 (-28.1%) $2,693,440 $2,507,570 (-22.7%)
No. of Sales 14 (+75.0%) 8 18 (-22.2%)
Pending 37 (+23.3%) 30 34 (+8.8%)
Active 17 (-15.0%) 20 14 (+21.4%)
Sale vs. List Price 101.7% (+7.1%) 95.0% 115.1% (-11.7%)
Days on Market 17 (-71.2%) 59 6 (+201.3%)
Days of Inventory 33 (-56.3%) 75 21 (+56.1%)

 

 

 

Altos Research charts for Almaden Valley real estate market, single family homes segment (more…)

Where are the high voltage power lines?

by , | Feb 15, 2023 | Almaden Valley (SJ), Blossom Valley (SJ), Buying Tips, Cupertino, Environmental Hazards, Foothill Areas, Los Gatos, Monte Sereno, Neighborhoods, Safety, Santa Clara County (all), Santa Teresa (SJ), Saratoga

High Voltage Power Lines Collage

High Voltage Power Lines from around the West Valley.

High voltage power lines are a “location issue” that impacts real estate values, and it sometimes elicits worry regarding safety.

High voltage power lines: how far is far enough?

Something we have spoken about recently with our clients is being far enough away so that if the tower and high voltage power lines were to fall, they’d miss your home and property. In our recent series of atmospheric rivers in January 2023, in San Jose one of these large transmission towers did fall down. It’s rare, but not impossible.

I have not seen a website that can tell us how tall any given tower is, but from what I have read online, it seems that most of them are under 200 feet tall, but some could be higher than that. In most cases, that puts the lines about 4 houses away if the lots are a typical 6,000 SF lot of 60′ across the front and 100′ deep.

We cannot speak to the concerns around potential increased risk of cancer or other problems. Each consumer should research that issue on his or her own.

Where are the high voltage power lines?

High Voltage Power lines - map - CaliforniaYears ago, I painstakingly mapped out the transmission lines from what I knew on the ground and what I could tell from tracing the Google satellite view. (You can find that link near the bottom of this article.)

Today, though, there’s something better than my map available online. The California Energy Commission has a map of the transmission lines that you can view using THIS LINK. Or click on the image at the left.

From the landing page you can zoom in or out. It covers the entire state of California – you might find it interesting to navigate around a little.

Also, a few years ago, PG&E published an interactive map where you can view the location of electric lines (I’ve filtered the imbedded map below to show Electric Transmission Lines in the South Bay), and another map of natural gas pipelines, searchable by address. This doesn’t cover the entire state, but it does cover all of the Bay Area / Silicon Valley.

The PG&E map:

On the map I hand-drew at the bottom of this article I did also include the location of schools. Quite a lot of schools do have transmission lines present.

What other location issues are there to factor in?
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Woodside of Almaden Neighborhood, San Jose

by | Dec 31, 2022 | Neighborhoods in Almaden

The scenic Woodside of Almaden neighborhood in San Jose offers tree-lined streets with sidewalks, proximity to the Los Alamitos Creek Trail, views of the Santa Teresa Foothills and the coastal range, and top notch public schools to boot. Many Silicon Valley  home buyers appreciate the quiet, the community involvement, and activities that take place in this area of Almaden, and choose to make it home.

With Google expanding into central San Jose in the upcoming years, it is sure to make this area even more desirable as Almaden Expressway is a very direct route to central and downtown San Jose.

 

Woodside of Almaden at Sunset

Woodside of Almaden at Sunset

 

Woodside of Almaden neighborhood description

There are 386 single family homes in the Woodside of Almaden neighborhood. They were built beginning in 1977, but some as late as 2016 (likely rebuilds) and the average age of construction is 1980.

Most houses are around 2,000 to 2,500 square feet, with the average being 2252 SF, but the range is expansive, from 1649 to 4066 SF. Many of these houses feature good sized formal entryways, vaulted ceilings in the living room, and comfortable layouts with well sized rooms. As a rule, houses in this community do not feel cramped – they were well designed.

Lot sizes span 7,680 to 15,705 SF with an average lot size being a generous 8942 square feet.

Homes are built forward enough on the lot that most back yards are a good size. (more…)

What Does It Cost to Buy a 4 Bedroom, 2 Bath Home in Silicon Valley with Good Schools?

by , | Nov 3, 2022 | Almaden Valley (SJ), Cambrian Park (SJ), Campbell, Cupertino, Foothill Areas, Los Altos, Los Gatos, Market Info, Market Reports, Monte Sereno, Palo Alto, Saratoga

Often I have clients who are interested in purchasing a 4 bedroom, 2 bath home in a good school district in Silicon Valley, particularly in the South Bay and West Valley areas. But what does it cost to buy that “average home”? Tonight I did a study on the MLS of homes that have sold and closed escrow in the last 4 months with these characteristics:

  • single family home (house)
  • 4 bedrooms
  • 2 full bathrooms
  • 1800 to 2200 square feet of living space
  • 6000 to 10,000 sf lot

Disclaimers aside, here are the numbers for select West Valley Communities in the West/South Bay area with good schools.

Cost to Buy 4 Bed 2 Bath Home in Popular Silicon Valley Communities

The first number is the number of sales during that time (more sales = more reliable averages). This one is not in the older charts, but with inventory as low as it has been lately this makes a huge difference. The second number is the average sales price per square foot, the third number is the average sales price, and the last number is the average days on market:

2022-11-3 Average Cost to Buy West Valley Homes 120D 4b-2b West Valley

 

And now a look back to late winter, early spring of 2017…

 

 

What’s changed? A lot! The order has shifted some, showing where demand has increased or decreased. Most noticeably, the prices are mostly up significantly, which is most noticeable in the price per square foot. Cambrian has traveled a good deal up the ladder. Palo Alto and Los Altos were displaced by the sole Saratoga sale, and Blossom Valley of San Jose remains in it’s regular position at the bottom.

The home prices tend to run with school rankings. Previously this was by district API scores.  You can check the 2013, three year average, API scores in Santa Clara County for both the districts and the individual schools online here, however that system is no longer used. So how to people judge? Most buyers use sites like GreatSchools.org when looking for a home with good schools which ranks schools on a scale of 1-10 in a few categories.            (more…)

Almaden homes for sale

by , | Sep 11, 2022 | Almaden Valley (SJ), homes for sale

Almaden Homes for Sale - two story house in San Jose's Almaden Valley, 95120Browse Almaden homes for sale here! This scenic part of San Jose, which mostly follows the 95120 zip code, sits nestled between the coastal mountain range and the Santa Teresa foothills.

If you are just getting to know this South San Jose area, you might want to begin by reading this article first:
What are the advantages of buying a home in Almaden Valley?

Many Silicon Valley home buyers are looking for new construction, but the best land in Santa Clara County was built up decades ago, so there are not many new homes in Almaden Valley, San Jose.

Pricing comments for the Almaden homes for sale

The Almaden homes for sale with Leland High School tend to sell for more than those with other schools as it is so high scoring, however, all of the public schools in Almaden Valley are good! One of the most affordable neighborhoods for that part of 95120 is Creekside Almaden. At the end of that article you can see any Creekside Almaden homes for sale.

Other factors that will impact the sale price are views, as some homes enjoy some elevation or have particularly stunning vistas, as well as the home’s  size, condition, lot size, landscaping, and other typical elements.

Each month we update the Almaden Valley real estate market conditions, so you may want to bookmark it and visit often.

Listings now available in 95120: Almaden homes for sale

These will include everything showable in the 95120 zip code, including the prized New Almaden homes for sale. The most recently added Almaden homes for sale will appear first. Please also read “an important word about the total number of listings” below, as feeds such as this one may only show a large percentage, but not all, available houses, townhouses, or condominiums to buy.

  • List View
  • Map View
  • Grid View

See all Almaden area of San Jose, California Real Estate.
(all data current as of 3/26/2023)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

 

An important word about the total number of listings and what is displayed here

 

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Selling a home in Almaden Valley, San Jose – best tips!

by , | Jul 28, 2022 | Almaden Valley (SJ), Selling Tips

Selling a home in Almaden Valley - foundation and drainage are keyAre you selling a home in Almaden Valley, San Jose, within the next year? There are things that you can do to enhance your home’s value and your ultimate net from the sale.

#1 tip for selling a home in Almaden Valley, San Jose

In addition to the basics for every home seller of correct pricing, fixing, cleaning, decluttering, replacing floor coverings and paint as needed and providing a complete disclosure package with pre-sale inspection, there is one extremely important facet to focus on in 95120:

  • Foundation & drainage work is KEY!  This is the number one issue that is fairly unique to Almaden as an issue.  Find out if your crawl space has any moisture intrusion either now or seasonally and if so, consider mitigating it as these items can scare buyers off or cause them to lowball their offers. (You may want to hire a home or pest inspector to check the entire crawl space for you.) Probably 90% of homes in Almaden have this problem and it should not be ignored as it can lead to expensive foundation repairs, mold, cupping of hardwood floors in the living space, and more.
    • Most home owners are not directing the water away from their homes at the downspouts, and that is part of the problem in many cases.
    • You may need to employ a foundation and drainage contractor for guidance and implementation, depending on what is discovered when your crawl space is checked
    • Even if you don’t get the work done, having a bid for what’s needed is a huge help. The reason is that whatever a cost might be, most buyers believe it will cost 3 -5x that amount. Providing the actual cost will build buyer confidence and lessen their fear of surprises.
  • If your home is close to high voltage lines, consider learning the EMF levels. They are likely not as big of a deal as buyers will worry that they are.
  • In a quiet location? You might want to check your property’s “How Loud” score to promote that benefit – see HowLoud.com.

Selling a home in Almaden Valley: what’s unique about 95120

This lovely corner of San Jose has become more prized in recent years. Many home buyers view it as a good value for the money in terms of the schools, the overall quality of the community, the scenic beauty with hills close by on two sides, and the reasonable commute to downtown San Jose. These are often what motivate home buyers who are drawn to the 95120 zip code. Once they visit in person, they may be surprised at how quiet this area is, generally, too.

The close proximity to the Santa Cruz Mountains on one side and the Santa Teresa foothills on the other is unique. There are some issues that arise from that situation that we’ll address later, primarily regarding water, drainage, and foundations, as mentioned above. For most home buyers, those are not really on their radar upfront.

Selling a home in Almaden Valley: plan to educate the buyers

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The Montevideo Neighborhood in the Almaden Valley area of San Jose

by | Jun 26, 2022 | Almaden Valley (SJ), Neighborhoods in Almaden, San Jose (all areas)

Montevideo neighborhood in San Jose's Almaden Valley area San Jose zip code 95120Located close to the Guadalupe Creek and the foothills of the coastal mountain range, the Montevideo neighborhood enjoys tree lined streets and scenic green views of the hills. Houses and yards are nicely kept. It is fairly convenient for commuting as it’s not too deeply into the San Jose area of Almaden Valley. About 500 residents call this beautiful neighborhood home.

Shuffle board area of Montevideo cabana

In addition to the pleasant vistas, the Montevideo home owners and residents enjoy the cabaña, which includes a community pool, clubhouse, recreation grounds (shuffleboard, volleyball court and more), a fun swim team for kids. There are very few cabañas in the west valley, so this is a big draw.

Adjacent is the very highly regarded Guadalupe Elementary School, which can boast API scores in the 900s (it was 941 in the 2013 study). (more…)

Mount Umunhum

by | Jun 26, 2022 | Almaden Valley (SJ), Los Gatos, Los Gatos Mountains, Silicon Valley

Closeup of The Cube at Mount UmunhumMount Umunhum sits high on the Santa Cruz Mountain range, and from there you can enjoy spectacular views. Looking inland, there are vistas of San Jose & most of Santa Clara County, on a clear day even as far north as San Francisco from Mt. Umunhum. Turning toward the Pacific Ocean, from Mount Umunhum’s heights you can see Santa Cruz and Monterey on a fogless day.

This gorgeous peak is part of the mid-Peninsula’s open space holdings, specifically the Sierra Azul Open Space.

Visiting Mount Umunhum

The park is open from a 7 a.m. to about a half hour after sunset (but the gate closes at sunset) per the Sierra Azul Open Space website. The parking lot is not big (just 60 spaces) and it can fill up early on weekends.

It may be warm on the valley floor, but the weather can be quite different, windy and cold, at the summit. Bring layers!

Also, the road up there weaves and winds. If anyone in your party gets motion sickness, you may want that person in the front seat or driving if possible.

The main entrance to the park is at the end of Mt. Umunhum Road, approximately 5.3 miles from the intersection with Hicks Road. There are other places to access the park. You can find all of them on the park’s website under Know Before You Go.

My family and I visited Mount Umunhum on a cold and windy November day in 2017. The views were breath-taking.

2017 views from Mount Umunhum of the Santa Clara Valley

 

 

For those not able to visit in person, the video below provides information on the work that’s gone into making it available to all of us.

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Guadalupe Oak Grove Park in Almaden Valley

by | May 26, 2022 | Almaden Valley (SJ), Parks

Recently my family and I visited the Guadalupe Oak Grove Park in Almaden Valley. As the bird flies, it’s less than 2 miles from our home, but somehow we hadn’t been there before. We loved it and I thought our readers might enjoy seeing some images and learning more about this cool pocket of nature in suburbia.

There are some informative signs in the park. One stated that there are 15 types of oak trees in California – something I had not previously known. In this park there are several types of oaks, including, I believe live oak, valley oak, black oak, blue oak, and the California buckeye, which is related. (There are some empty or blank sign stands along the trail. For neophyte explorers like myself, it would be great if they would indicate which type of oak is which.)

 

Guadalupe Oak Grove Park sign - Almaden Valley, San Jose, CA 95120 - sign

Guadalupe Oak Grove Park boasts 62.7 acres with paths or trails. Some of these trails are fairly level and not on challenging terrain, while others  are more steep. The trails wind through varying types of vegetation. Some parts are dotted with oak tress, others are shrubs or grasses.

It’s located at 5982 Thorntree Drive San Jose, CA 95120 and is open from 8 a.m. to sunset daily. More location info is at the bottom of this post.

This is immediately adjacent to Jeffrey Fontana Park, which has a playground, lawns, and the more typical neighborhood park features, so it’s very convenient to visit both in one day. Guadalupe Oak Grove Park does not have a tot lot, youth playground area, et cetera, per the city of San Jose’s page for this park.

Close to the parking lot there is a shady stretch where you’ll find  log benches to the side. It’s a pleasant spot to just relax and watch the birds and other animals.

 

Shady part of a trail near the parking lot - Guadalpe Oak Grove Park

 

Other sections are grassland. Right now, they are dried out (so it’s no surprise that barbecues are not allowed here!). It was mild the day we stopped by, but this area might be uncomfortably toasty on a summer day.

 

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