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Cupertino Real Estate Market Trends and Statistics

Cupertino - view from Ridge VineyardsHow’s the Cupertino real estate market?

The Cupertino real estate market has prices for houses hovering in the $2.7 – $2.8 million range. Much of the valley is similarly hovering in terms of prices bouncing up and down within a fairly small band. October was a hotter real estate month than September, with the sale to list price ratio rising to 104.8%. There were only 14 closed sales in October, but there are 33 pending, also indicating a big heat up in the market there.

Here are the most recent real estate statistics, via my Cupertino Real Estate Report.

Cupertino Real Estate market – Closed Sales and Trends at a Glance

(If you’re viewing the chart below on a mobile device, please swipe horizontally to see all columns.)

Trends At a Glance Oct 2022 Previous Month Year-over-Year
Median Price $2,829,000 (+1.5%) $2,788,000 $2,630,000 (+7.6%)
Average Price $2,736,820 (-4.9%) $2,876,570 $2,690,350 (+1.7%)
No. of Sales 14 (-26.3%) 19 17 (-17.6%)
Pending 33 (-5.7%) 35 35 (-5.7%)
Active 25 (0.0%) 25 19 (+31.6%)
Sale vs. List Price 104.8% (+5.1%) 99.7% 117.5% (-10.8%)
Days on Market 17 (-34.5%) 26 20 (-16.2%)
Days of Inventory 54 (+40.4%) 38 34 (+59.8%)

 

 

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

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…)

San Jose CA 95129 Real Estate Market Info

The 95129 area of San Jose, which is sometimes referred to as the “Cupertino Border” area and is generally part of West San  Jose, is highly desirable due to the excellent school scores in the Cupertino School District (which much of this zip code enjoys – but not all), well maintained homes and great commute location to companies such as Apple (headquartered in Cupertino).

The rest of this zip code has Campbell schools, making it more affordable and also very desirable as a close in commute location.

Today we’ll consider the real estate market activity for houses in this area today and in relation to recent history.

This data  will be automatically updated by Altos Research (to which I have a subscription) weekly. Altos uses list prices, not sales or sold prices, FYI.

San Jose 95129 Market Profile

 

Median List Price San Jose 95129

 

Inventory of Single Family Homes for Sale in San Jose CA 95129

 

 

Houses for sale or under contract in West San Jose 95129

Below are some or all (if just a few) single family homes for sale in San Jose 95129. Some of these will be have Cupertino schools and some will have Campbell schools.

 

  • List View
  • Map View
  • Grid View

See all 95129.
(all data current as of 12/5/2022)

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

 
 

 

 

Where are the high voltage power lines in Cupertino, Saratoga, Los Gatos, and Almaden Valley?

High Voltage Power Lines Collage

High Voltage Power Lines from around the West Valley.

“Location, Location, Location!” The most important element when buying or selling a home is the one thing you can’t change – it’s location. Because of that, you’ll need to know some location-specific things, naturally occurring and man-made. Like high voltage power lines.

What about this location?

If you own or are thinking of buying a home in Silicon Valley, here are a few location-specific things you want to know upfront so that you can make informed decisions:

  • where are the earthquake fault lines?
  • where are the geologic hazard zones, such as liquefaction areas?
  • where are the flood plains?
  • where are man-made things that will negatively or positively impact a home’s value? Things such as
    • train lines
    • freeways
    • electrical transmission
    • school district boundaries
    • zip code boundaries
    • proximity to entertainment venues

When looking at maps, sometimes these items show up and sometimes they don’t. Realtors and other real estate professionals in the San Jose area often use a Barclay’s Locaide and various online resources to locate the natural hazard areas. There are other tools to help locate school districts and zoning restrictions.

Google maps can help uncover some other areas, like distance to shops and freeways, but sometimes it raises more questions than it answers. For instance, a years ago a Realtor who didn’t know the Belwood of Los Gatos area too well phoned me to ask what a large object showing up on satellite view in the hills of Belgatos Park was. It is just a covered reservoir, but since it was not identified on the map it concerned some buyers. Local knowledge is still extremely helpful.

Mapping the Grid: High Voltage Power Lines

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Cupertino: Highly Regarded for High Tech, High School Scores

Pink Rose Trimmed TinyCupertino 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 - view from Ridge Vineyards

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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Market comparison: Los Gatos, Saratoga, Cupertino and Los Altos

Market comparison: Los Gatos, Saratoga, Cupertino and Los AltosToday we’re looking at the real estate market for houses in some of the “west valleycommunities along the base of the Santa Cruz Mountains – areas where schools are good, crime is low, residents enjoy scenic views of the hills (or of the valley from the hills, depending on the location) and overall, a highly educated population not too far from Highway 85. This will be a real estate market comparison for Los Gatos, Saratoga, Cupertino, and Los Altos.

Of the four municipalities, three are really very similar to each other in several regards.  Cupertino has the largest population – about 61,000 people – but Los Altos, Los Gatos and Saratoga are all similarly sized, somewhere between 31,000 residents.  The latter three also enjoy a traditional “downtown” area which is popular with pedestrians, bicyclists and motorists alike. (Monte Sereno has under 4,000 residents, which is so small that the statistics are very easily thrown from month to month, so it is omitted in this quick study.)  Of the four, Cupertino, then, is the least similar due to size and lack of a central downtown area for now. This may feel different once the Vallco Mall is redeveloped.

We’ll take a quick look at these areas now in terms of the real estate market trends and statistics for each area, considering just “class 1” (houses and duet homes).  The charts used below are from Altos Research, to which I have a subscription, and they will be automatically updated each week.

Please note:  the Los Gatos data is probably a little artificially low as it will include all 3 zip codes, meaning also the Los Gatos Mountains, which are quite a bit more affordable than the areas “in town”.

In addition, as of this writing we are in the shelter-in-place phase 1 of the pandemic. This post is updated approximately every quarter or half-year, so we’re just starting to see the results of these changes to the market,  but it will take a while to see the full picture. For now you can read more about the Coronavirus impact on real estate sales in my post on the topic.

Also, 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.

Now on with the analysis!

Market Comparisons

(1) Median List Price (per Altos Research):

 

Real Estate Market Chart by Altos Research www.altosresearch.com

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Silicon Valley Homes for Sale Near Golf Courses in the Foothill Areas

With our 300 sunny days per year in Silicon Valley (at least most years!), golf is a sport enjoyed year round here in the San Jose area.  Living near a golf course, or having a golf course view, is highly desirable as it provides scenic open space as well as convenience for avid golfers.

Silicon Valley Golf Homes, Silicon Valley Golf Properties

There are beautiful courses throughout the South Bay Area and it’s possible to find small condos with views of them at fairly affordable prices (Sunnyvale’s Sunken Gardens area is one of them).  Today, though, I want to provide a list of homes for sale near golf courses in the foothill areas of Silicon Valley.  Many of these will also be luxury homes. So the MLS list of these houses on the market which you can browse includes these areas:

San Jose areas including Evergreen & Silver Creek, Santa Teresa, Blossom Valley and Almaden; Los Gatos, Monte Sereno, Saratoga, Cupertino, and Los Altos.

There are golf courses to be found in other parts of Santa Clara County too (Mountain View, Sunnyvale, Santa Clara and more) – let me know if you are interested in these parts and I can send you a link for searching them for similar residential real estate.

Here are a available or recently sold homes near to golf clubs:

 

 

 

 

Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

Sketch of houseIt can be really challenging for people moving to Silicon Valley to get a sense of real estate prices, and perhaps more, comparing cost of from one town or district to another.

One question I get a lot is this: what does it cost to buy a 4 bedroom, 2 bath house of about 2000 square feet?

So to answer this question, let’s see what houses like this are selling for (4 bed, 2 bath, appx 2000 SF or 185 square meters) and see how the cost looks in one Santa Clara County / Silicon Valley area versus another.

Comparing Costs

Today I compared several areas and cities using this criteria: single family homes of 1800 – 2200 SF, 3-5 bedrooms, 2-3 bathrooms, on lot sizes of 6000 SF to 10,000 SF. Normally I would chart this over the last 2 months, or 60 days, but because of the low inventory causing the sellers market I have expanded the search to the last 3 months, or 90 days, for a better range. Because some areas have had a scarcity of inventory, I’ve added an addition to the chart titled NoS for Number of Sales within the given range.

Here’s how it shakes out in the “west valley areas” along the Highway 85 corridor, most of which are known to have good to great public schools. What areas are most affordable? One way of analyzing this is the “price per square foot” figure. Whenever I update the chart, I re-arrange the order of the cities from high to low based on the price per square foot, although there’s usually minimal movement.

 

Feb 2020 Sales Comparisons

 

Within this range, Campbell only had one sale over the last 90 days, so data for that segment may or may not be a good average. Both Los Altos and Saratoga had no sales within the last 90 days within these criteria, so their searches have been expanded to 0-180 days (or 6 months / half a year) and 0-120 days (or 4 months / a quarter year) respectively to provide data for comparison for this chart. Now that we have the data, let’s analyze it!

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Sellers: should you have an “offer deadline”?

Offer DeadlinesIt’s a seller’s market in Silicon Valley right now.  Many sellers are getting multiple offers and overbids, especially in Cupertino, Sunnyvale, Mountain View, Palo Alto and Menlo Park.  For home owners trying to maximize their sales price, does it make sense to have an “offer deadline”?

Maybe.

If you are pretty confident that you can get multiple offers, the deadline helps in a few ways.

  • it prevents the offer situation from being a mere “foot race” (fastest one wins, rather than highest offer and best terms)
  • it allows everyone enough time to see the house, read the inspections, disclosures etc.
  • it provides enough time for the sellers and agents to plan

As with all strategic plans, this one can backfire too.  If you or your agent publishes an offer deadline and then no bids are forthcoming, it’s more than just a let down.  It’s a market signal that this home is overvalued by its owner and agent.  Then, suddenly, it can appear to be an old or stale listing, even if it’s just been on the market 7 to 10 days.

Many real estate agents take a middle path, saying nothing about offers until agents ask. If they are asked, they will give a date in the future – usually a couple of days after the open house.  But the MLS won’t say it for these agents unless they hear many buyers’ agents asking about offer presentation.  They don’t want to look bad, they don’t want your house to look bad.

We never know until a property goes on the market how it will fare.  It is wise to be cautious about advertising an offer date unless you are very certain that you will be seeing multiples! The market right now is a little funny. Homes priced aggressively are getting multiple offers. Homes priced AT value are not moving quite so fast. And homes price for values in spring of 2018 are not selling well at all.

 

 

 

 

1190 Crestline Dr Cupertino, CA 95014

 1190 Crestline Dr Cupertino CA 95014

MLS # ML81714661

1190 Crestline Dr Cupertino is tastefully expanded, remodeled, and sunny home with award winning Cupertino schools!

 

Spectacular open living concept kitchen and family room

 

Quick facts 1190 Crestline Dr Cupertino:

  • 3 bedrooms + office and bonus room / alcove
  • 2 newly remodeled baths in 2018
  • 1715 SF (per county)
  • Lot size 6007 SF (per county)
  • Built in 1963, expanded in 2011
  • No carpeting – mostly hardwood floors, some laminate, some Italian porcelain tile
  • Flexible layout—sewer plumbed to possibly add 3rd bathroom and one bedroom in original kitchen area

Welcome to this bright and sunny home, impeccably updated throughout! You will love the gorgeous hardwood floors, the abundant natural light, and the remodeling that has been done in every corner of this house!

Rooms include a spacious living room with wood burning fireplace and recessed lights, dining room with recessed lights, an alcove or study (original kitchen location), an open family room – kitchen, an office, 3 bedrooms, and 2 bathrooms.

Island Kitchen & Family Room:

  • The open kitchen & family room is the center of the home and a true showpiece. They enjoy Brazilian teak hardwood flooring, a tall vaulted ceiling with 2 Velux skylights and retractable shades, recessed lighting, Casablanca fan, 8’ Anderson French door to the yard, and large Milgard windows to bring in the light. Spray foam insulation between the ceiling and the roof helps to keep the room comfortable year-round.
  • Slab granite counters, tumbled marble tile back splash, maple cabinets with pantry, pullouts, lazy Susan and under the cabinet lighting.
  • Stainless steel appliances include a French door refrigerator with ice maker (2017), GE Profile double oven, Bosch induction cooktop, Broan vent, Kitchenaid dishwasher, and microwave oven. (Fridge and microwave both stay.)
  • Large, open Franke stainless steel sink with Grohe faucet.
  • Good sized island with breakfast bar plus extra storage.
  • This area, plus the office, was added in 2011 with permits and finals, and represents 600 SF of the total square footage of the home.

 

Bathrooms – remodeled in 2018 with permits & finals:

  • Hall bath offers a shower over the tub, Italian porcelain tile, vanity with deep drawers, and a sun tunnel
  • Master bathroom features a stall shower, Italian porcelain tile, and a vanity with deep drawers.

More features:

  • Dual zoned heat and air conditioning (2 AC units)
  • Dual pane windows
  • New front door & interior doors
  • Copper water supply lines in the home
  • Fresh interior paint
  • Original hardwood floors just refinished (June 2018)
  • New baseboards in living room, dining room, hallway, bedrooms
  • Hot water heater replaced in 2016
  • New outdoor wall lights
  • New motion detector light on front of garage
  • Attached 2 car garage with new Liftmaster garage door opener

 

1190 Crestline Drive Public Schools:
Regnart Elementary, Kennedy Middle & Monta Vista High

Ideally located near schools, Three Oaks Park and Jollyman Park. Close to Apple campus and many high-tech companies. Easy access to 85, 280 Freeways and Lawrence Expressway for convenient commute!

 

OPEN HOUSE SCHEDULE for 1190 Crestline Drive:

Thurs., 7-19-2018 9:30am to 12:30pm (broker tour AND public open house)
Sat., 7-21-2018  2pm to 4pm
Sun., 7-22-2018 2pm to 4pm

 

1190 Crestline Drive  – DISCLOSURES & OFFERS

Disclosures will be available on or by Friday July 20th. The link will be in the private agent MLS comments for the buyers’ agents.

Offers will be due sometime after the open house weekend. Please check with Mary Pope-Handy for the due date. No pre-emptive offers, please

 

 

Learn more about Cupertino here: http://popehandy.com/cupertino/