Evergreen Area of San Jose
The Evergreen area of San Jose is includes many newer homes and communities. It is a highly regarded 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 info on this section of the valley and then offer information on the current real estate market trends there, and that part will be updated periodically. Just want the Evergreen real estate market update? Please scroll down!
Evergreen Real Estate Market Report: Single Family Homes
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 warmed up in February with a rise in prices, in sales, in sales to list price ratio, and a quicker market turnover. It’s a hot seller’s market with dwindling available listings.
|Trends At a Glance||Feb 2020||Previous Month||Year-over-Year|
|Median Price||$1,290,000 (+29.0%)||$1,000,000||$1,125,000 (+14.7%)|
|Average Price||$1,405,160 (+20.2%)||$1,168,670||$1,226,670 (+14.6%)|
|No. of Sales||19 (+26.7%)||15||25 (-24.0%)|
|Pending||38 (+65.2%)||23||23 (+65.2%)|
|Active||24 (-17.2%)||29||40 (-40.0%)|
|Sale vs. List Price||101.8% (+2.1%)||99.7%||99.4% (+2.4%)|
|Days on Market||26 (-40.4%)||44||45 (-41.6%)|
|Days of Inventory||35 (-39.0%)||58||43 (-18.1%)|
Altos Research: Evergreen real estate market for single family homes or houses by zip code
The San Jose real estate market is a strong seller’s market, heating up again after some winter cooling. However, this season has remained steadily active. 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 real time market San Jose housing market profile (last updated 3/10/2020 as of this writing) shows on the graph a slow increase of inventory, dropping days on market, and rising prices after some cooling. The Market Action Index still shows a Strong Seller’s Market that’s only getting hotter. The Median List Price (for condos and houses combined) is approximately $1,288,000.
8865 Wine Valley Circle, San Jose, is a wonderful home for sale (my listing) in The Villages Golf & Country Club, a 55+ community. This detached, single story house provides 2 bedrooms plus den or home office, 2.5 bathrooms, living-dining areas plus a family room open to the nook and island kitchen. Built in 1997, this single family home enjoys tall ceilings and abundant natural light in an appealing, open floor plan.
Feel free to visit the Virtual Tour here, or keep reading for the details!
8865 Wine Valley Circle – quick facts:
- Offered at $1,050,000
- MLS # ML81778777
- 2 bedrooms + den or home office
- 2.5 bathrooms
- 2256 SF of living space
- 4977 SF lot
- single story, detached house
- built in 1997
- central air conditioning
- dual pane windows
- 3 sun tunnels
- high ceilings, recessed lights
- laundry room
- large 2 car garage with extra storage
- nearly carpet free (only carpeting is in one closet) – most of the home has wood laminate flooring
- The Villages is a senior community, 55+, located in the Evergreen area of San Jose
Nestled in the rolling foothills of San Jose’s southeastern Evergreen area is a hidden gem known simply as the Villages.
As you drive up to the secured entrance, you’ll spot a sign: The Villages a Country Club Community. They take that claim to heart. A gated, community-oriented neighborhood centered around numerous country club amenities creates an immersive home for its residents. However this is a senior community, so to live at the Villages you have to be 55 or older. Therefore many residents are retirees who are active, love entertaining guests, and don’t want to mow the lawn every week. But you don’t have to be a resident to enjoy the country club side of things.
Only about a 20 minute drive from downtown San Jose, this area was once agricultural land with vineyards. It is still home to the impressive William Wehner historic mansion, constructed in 1888 and designed by architect David Burnham (this estate is currently closed to the public). The mansion is sometimes called the Cribari Mansion for its later owners, a name that was adopted by the first Village development. The original stone columns (circa 1891) for the estate’s original drive still stand as a prominent feature on one of the golf courses.
Today, the community is still surrounded by untouched rolling hills. And that natural beauty is staying put, as the Villages owns 550 acres of open space with community hiking trails. Continue reading
The Ranch on Silver Creek is a newer subdivision in the Evergreen area of San Jose with the 95138 zip code (that zip code is shared with part of South San Jose on the valley floor). It enjoys a lovely knoll top location – and recently I flew over it and grabbed a nice image to share with my readers here:
What is the neighborhood like on The Ranch on Silver Creek?
Mediterranean or contemporary style homes were built there between 2003 and 2006 – which makes them practically “brand new” by Silicon Valley real estate standards! The community is set around a golf course & clubhouse and is nestled in the hills such that there are many different views available from one area to the next without leaving the neighborhood. Many San Jose area home buyers strongly prefer newer homes in newer communities, rather than a remodeled home in an older neighborhood, and this area will certainly fill that requirement. It’s a tidy area with sidewalks which invite a comfortable stroll to discover the sights.
What are homes like at The Ranch?
There are a few hundred homes, so there’s quite a bit of variety there. Entry level townhomes are nice, but fairly modest, and at the other end of the spectrum there are estate quality properties on large view lots.
Houses range from about 2,000 square feet to more than 4,000 square feet. The tiniest parcels or lots are less than 4,000 SF and are townhomes or town houses, and the largest homes, generally, sit on land sized between 1/3 and 1/2 acre (though most are not so big).
Many houses are 2 stories, but there’s a fair number of single story homes, too. Most properties include an attached 2 car garage.
High ceilings, open floor plans, plenty of windows with lots of natural light are all typical here at the Ranch.
As with most newer construction, these houses are built on slab foundations.
What does it cost to buy a house at The Ranch? How’s the real estate market?
Yesterday on my way home from a final walk through on a property in Blossom Valley, I stopped by some open houses – following signs, just like a lot of consumers do. At one of the homes I spoke with a Realtor who’s starting to see a slowing in the real estate market. That hasn’t been my own experience, so I asked him about his take on things and he mentioned the rising inventory in areas where he’s active in Silicon Valley.
There are many ways to get a pulse on the market, but perhaps one of the easiest ways to check it is to see the sale price to list price ratio and the days on market. MLSListings, my local multiple listing service (of which I am a member), does some wonderful things with interactive graphs and charts, so I made use of that tool to see how San Jose is faring as a whole and also in some of the zip codes where I sometimes sell homes. The charts below are for single family homes (not condos, townhomes, duplexes, etc.) and are by zip code for all price ranges. Remember, stats are easily skewed one way or the other, and we might have seen different results if we teased it out by home size, lot size, school district, price point, presence of an in-ground pool, or any other factors. This is the “big picture”. First, then, San Jose as a whole.
What we see here is that homes are selling faster (shorter and shorter DOM or Days on Market) and a rising sales price to list price ratio. Both of these indicate a strong seller’s market for the city of San Jose as a whole. Next, we’ll list a sampling of zip codes in San Jose, primarily along the west side (where I tend to be more active in my sales) but not exclusively so. I’m putting these in numerical order.
In San Jose’s 95112 zip code, which is Downtown San Jose, it’s a mixed bag. The sale price to list price ratio is rising (seller’s market) but the days on market are also rising (softening market). This area would require more information – it could be that a few homes have been on the market for a very long time and skewing the stats, or homes in certain price points are just not selling. From this vantage, though, it looks like 95112 is mixed.
Next: 95117, 95118, 95120, 95123, 95125, 95126, 15129, 95136, 95148
Many newcomers to the San Jose & Silicon Valley areas want to buy new homes (or newer ones). Santa Clara County, though, had a big “building boom” after World War II ranging from the 1940s through the 70s. At the end of the building frenzy, most of the land was taken. More importantly, most of the really good land was built up.
How old is the “average” San Jose home for sale? Probably about 45 – 50 years old, on average. Depending on where you’re looking, precisely, the homes could be younger or older on average.
There are some nice communities of new and younger homes in Silicon Valley, but there aren’t a lot of them. Most of the new home communities have houses on small lots. Some are near high voltage power lines (homes on Taft in San Jose’s Cambrian Park area) or next to freeways (Summerhill development off Samaritan Drive in San Jose).