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The San Jose Real Estate Market Analysis

The San Jose real estate market is intensifying as a deep seller’s market. Some areas are hotter than others, but every area has risen by double digits at a minimum. The Santa Teresa real estate market saw appreciation of over 29% in the last 12 months. Evergreen was closer to 20%. Willow Glen was more like 14% (surprising, given the proximity to the upcoming Google Village). Beyond San Jose’s borders, the Los Altos real estate market has risen about 30% over the last year, too!

This data is from my RE Report. There appears to be either an undercount on RE Report or an overcount on MLS Listings (inventory was 130 on MLS Listings but 80 on RE Report – pretty substantial). I’ll post MLS stats that I have pulled directly myself also.

  • The December 2021 sale price to list price ratio was at 112.3%, which is highly unusual for December.
  • San Jose homes are selling faster than they can come on the market:  available houses were just 199 (on the last day of November), there were 426 homes under contract, and there were 527 closed sales. When you hear that “sales are down”, it is ONLY because inventory is down!
  • The days on market inched up from 14 days in October to 15 in November (the same as a year ago).

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

Trends at a Glance from the RE Report

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $1,480,000 (+0.7%) $1,470,000 $1,227,500 (+20.6%)
Average Price $1,622,930 (+2.5%) $1,583,800 $1,316,240 (+23.3%)
No. of Sales 345 (-20.3%) 433 446 (-22.6%)
Pending 431 (-22.1%) 553 381 (+13.1%)
Active 88 (-36.7%) 139 165 (-46.7%)
Sale vs. List Price 112.3% (+2.0%) 110.0% 104.1% (+7.9%)
Days on Market 14 (-11.9%) 15 16 (-16.3%)
Days of Inventory (-17.8%) 9 11 (-31.1%)

 

Next, the San Jose real estate market info that I pulled from the MLS this afternoon. (The display is 700 pixels, but the actual size is a bit larger, so click to see a slightly bigger view.)

Inventory levels for houses for sale in the city of San Jose. December was less than half of what it was a year ago. I wondered how it’s shaping up halfway through January and have found it to be about half of last year. We should see a little more come on between now and January 31.

San Jose Inventory - single family homes Jan 2012 through part of Jan 2022

More charts to follow – keep reading!
(more…)

Rose Garden neighborhood San Jose

The architecturally diverse and entirely charming Rose Garden neighborhood in San Jose is perennially attractive to home buyers. Silicon Valley residents appreciate the easy access to downtown San Jose and travel routes, but perhaps even more are drawn by the beautiful park the San Jose Municipal Rose Garden. They also appreciate that this is not just another area filled with tract style homes. Many of the properties in this part of the 95126 zip code are custom or semi-custom built and enjoy a wide variety of styles. Here are a few images of houses in the Rose Garden neighborhood of San Jose:

 

Tudor style home in the Rose Garden Neighborhood in Central San Jose

Charming English Tudor style house

Spanish style house in the Rose Garden Neighborhood

Lovely Spanish style house in the Rose Garden area of Central San Jose

Enchanting Mediterranean style house in the Rose Garden area

Enchanting Mediterranean style house in the Rose Garden area

A two story home with a detached garage, which is typical in the Rose garden.

A two story home with a detached garage, which is typical in the Rose garden.

Where is the Rose Garden neighborhood?

Boundaries for the community are not well defined, but generally this neighborhood is considered to be South of 880, East of Bascom, West of the Alameda from 880 to Naglee Ave, and then West of Dana Ave to Lincoln High or Forest Ave. This area has over 1,000 homes. Some might say the area included is much larger, or much closer in to the park, but these lines generally represent the safe bet for what is considered Rose Garden neighborhood. Nearby neighborhoods include Shasta-Hanchett and Burbank. The Buena Vista neighborhood is not too far to the south, also. Santa Clara sits just a little north of the Rose Garden. Downtown San Jose is about 2 miles from these. (more…)

Rose Garden Homes Tour in San Jose

Each autumn, the St. Martin of Tours School puts on a fabulous tour of lovely homes in San Jose’s Rose Garden neighborhood. While anyone driving through this central San Jose area can appreciate the diverse and beautiful architecture, often the best  features of these homes are found inside.

This year is the tour’s 22nd Anniversary! The homes tour is a large scale fundraising effort for the school. Tours are self-guided with hosts in each home ready to answer questions and share interesting historical facts and stories about the homes. On display will also be floral designs, artwork, and perhaps some treasures. The garden segment of the tour includes the Tea Garden, a spot to sit and enjoy complementary refreshments or a gourmet lunchbox (available to pre-order through October 6th with your tickets). The tour also features a boutique, where 100% of the proceeds will benefit St Martin of Tours School (credit cards accepted!) and a donation drawing.

Tour dates are Saturday, October 14th and Sunday, October 15th from 10am-4pm both days. No children under 12 are allowed on the tour. Come any time within the tour hours to begin, but note that it is recommended that visitors allot about 2 hours to view every home and the tour ends promptly at 4pm.

Tickets are available at the door, online, or through families in the school.

To read about the homes from last year’s tour, and to learn more about this year’s tour, and to purchase tickets, and more please visit the official Rose Garden Homes Tour website.

 

 

Get Tickets!

 

 

 

 

 

 

Which areas in Silicon Valley are the most European feeling?

Beckwith Building in Downtown Los Gatos, CA

The beautiful Beckwith Building in downtown Los Gatos, California

I have been fortunate to have made 5 trips to Europe, one of them lasting 9 months, and will be returning again before the end of 2013 (this time to Belgium).  It is so diverse, beautiful and compelling! Having experienced a little culture shock myself (when living in Florence, Italy, for one year of university), I’m very sympathetic about how hard an international move can be, and I understand that for Europeans moving to Silicon Valley, there can be an acute culture shock, particularly for those coming from more rural areas.

The bulk of Silicon Valley is located in Santa Clara County, which is at the southern end of the San Francisco Bay.  In this county, there are approximately 1.8 million people, almost a million of them in the city of San Jose.  Some areas, or districts, of San Jose have a distinctive character and are almost like towns or small cities themselves.  So in this article I’ll mention both cities and towns, but also areas or districts of San Jose, which might appeal to our European transplants.   Most of my comments will reference Santa Clara County or “south bay” locations, but I will also mention others on the San Francisco Peninsula and SF Bay Area too.

Architecture, Urban Centers and Charm

It is an unfortunate negative in Silicon Valley that much of our housing consists of ranch style tract homes, and truthfully, they are not exactly a work of art.  New or newer homes tend to be on very tiny parcels of land (or “lots”) and for many people may simply feel too congested or crowded. But there are beautiful residential neighborhoods – you just need to know where to look!  In many ways, the areas with higher charm can make our global home buyers feel more comfortable than if they were faced with only track, ranch neighborhoods.

Do you value unique, older architecture with Victorian, Craftsman, Tudor or other home styles? Then check out these areas:

  • Within San Jose: the Japantown, Vendome, and Naglee Park areas of downtown San Jose. Also in central San Jose are the Rosegarden, Shasta Hanchett and Burbank neighborhoods which all boast some lovely older homes.  Or, if you love classic Spanish Revival style homes with views, consider the old Alum Rock area of San Jose near the country club (golf course).  The Willow Glen area of SJ (zip code 95120) is full of lovely old established neighborhoods with historic homes and tree lined streets.  If your job takes you to downtown San Jose, all of these areas will be fairly close.

Please read the rest of this article on the Move2SiliconValley.com website:

http://www.move2siliconvalley.com/which-silicon-valley-areas-are-the-most-european-feeling/

Finding scenic places in which to live in Silicon Valley

View from Montevina Road in Los Gatos, Scenic Silicon ValleyIf you arrived into Silicon Valley via Highway 101, driving south from San Francisco, you might believe that the Santa Clara Valley, the San Jose area and Silicon Valley as a whole has got to seem to be the ugliest place on earth. Although heavily traveled, that is not the “scenic route”.

So, too, if you are looking for a place to live and are groping to find a place that is reasonably priced, fairly safe and not a terrible commute distance. You might not even have “is nice looking” on your wish list. You might not think it’s possible if all you ever see are the ugly concrete tilt-up buildings in north San Jose, Santa Clara, Alviso, or anywhere along the 237 corridor.  That area is an architectural wasteland.

Let me assure you: there are a lot of beautiful places in Silicon Valley where you can rent or buy a home. But how do you find them? It helps a lot to have a local give you a few pointers.  I’ll give you some tips today on finding a scenic place to live.

Hills – An easy way to find a scenic location to make your home is to settle near the hills, especially those in the west valley (the Santa Cruz Mountains or the Coastal Range) as they are green year-round. Communities at the base of the west valley foothills include, in Santa Clara County, Palo Alto, Los Altos, Los Altos Hills, Cupertino, Saratoga, Monte Sereno, Los Gatos, and the Almaden Valley area of San Jose. All of these areas are adjacent to the hills or mountains and offer far better than average schools (many of them qualify as great – compare costs between these areas). (more…)

St Martin of Tours School’s 15th Annual Rose Garden Home Tour

The St Martin of Tours School’s annual tour of beautiful homes in San Jose’s Rose Garden district is happening this weekend.  It’s a fabulous opportunity to see gracious homes, attractively decorated and remodeled, and to support the school.

If you’re new to Silicon Valley and are unfamiliar with the area, the school (and Church) are close to O’Connor Hospital (which is close to Valley Fair Mall).  The Rose Garden District is close by, surrounding the San Jose municipal park bearing the name of Municipal Rose Garden. It’s considered part of “central San Jose” and has the zip code 95126. This area, along with nearby Shasta-Hanchett, has some gorgeous older homes. Many of the streets are wide and tree lined. This neighborhood is convenient to both major nearby freeways (280 and 880) so is a great commute location. It’s an area with enduring popularity.

 

View Larger Map

For all the details, please see their Rose Garden Homes Tour website.