The San Jose real estate market is a strong seller’s market, and it has been for months. Available inventory continues to shrink and demand remains high. This article is updated monthly with the latest market data. Here’s a sample of the latest for San Jose’s single family housing market:
- There was a significantly hotter seller’s market in December 2020 compared to the year before.
- San Jose homes took an average of only 16 days to sell.
- The average sale to list price ratio was 104.1%, a small decrease month over month and 3.5% higher than the year before.
This spring the market experienced mild unseasonable cooling, a likely result of the pandemic, though it’s been in recovery since and saw increasingly hot markets through summer and into autumn. Winter has finally begun to show some mild seasonal cooling. This is visible in the San Jose housing market data below, and I’ve also seen it in my own real estate practice.
Something to note, however, is that these charts will not reflect the full effect of the pandemic on the market. We have a better view of the impact now that we have a good spread of data to look back on, but it will take a while to see the full picture. For now, you can read about Coronavirus’ impact on real estate sales on my other post.
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. Current numbers are accurate, but disregard this data for those previous months.
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 (updated January 12th) shows on the graph a steadily retreating inventory, lengthening days on market, and a stable market action. San Jose is in a strong seller’s market according to Altos, and holding. The Median List Price (for condos and houses combined) is usually stable around $1,250,000, though it was nearer to $1.3 mil around late summer and early autumn.
Looking for a convenient residential location in an area with gorgeous tree lined streets? Check out the Cory neighborhood in west San Jose along the Santa Clara border.
One of the first things you’ll notice when arriving to the interior of this established area is that most streets have older, attractive, and large trees along the sidewalk strip. It’s an enormous canopy which creates a very inviting feel. In some sections, trees are younger. The majority of homes provide a front porch. You may also note that nearly every property features a single story ranch style house.
What are homes like in the Cory neighborhood?
There are 1065 houses (by my research on Realist) in the Cory community, plus about a dozen duplexes. Along the outside edge of the neighborhood there are other types of buildings, including religious, restaurant, educational, and business.
The houses were built primarily between 1948 and 1950, although about 200 of the thousand were built after 1950 (and 31 of those after 1991). The majority of the houses were part of the expansive Bascom Gardens tract (579 by my count), but 211 of the approximately 1000 houses were part of the Kaiser Community Homes (also known simply as “The Kaiser Tract”). Others are designated by tract number but not subdivision name. It looks like they all started as a single level ranch style house, but today 65 of them are two stories (that’s about 5%).
Many of these house were constructed with wall furnaces in a central location (often in a living room on one side and in the hallway on the other), a fireplace, hardwood floors, a formal dining room, an attached 2 car garage, a raised foundation (access often found outside, in the backyard, but sometimes indoors via a closet floor). Laundry would be in the garage and a drying yard just outside of the garage, often in a side yard (and near the kitchen). Charming touches can be found in things like the telephone niche in the hall. Some feature a breezeway between the house and garage – a great place to store bikes, or an easy place to add on later.
These tract houses were built modestly and affordably in the post WWII era. Some houses are as small as 806 SF with 2 bedrooms and 1 bath, though most were and still are 3 bedroom homes with 2 baths. More than half are 1300 SF or less. Ninety percent of these properties are under 2000 SF, but over the years with expansion and rebuilding, some are quite big, and one property is a bit over 3000 SF.
Today, many of these properties have been upgraded and enjoy newer wiring, plumbing, heating, and cooling, in addition to dual pane windows and other improvements over the years. Buyers continue to value the hardwood floors, the large picture windows, and practical layouts that these homes provide.
Merrivale West is a very popular community of 248 townhouses, built by Ditz-Crane in beginning in 1972, in the “West San Jose” area offering beautiful grounds & homes as well as a fantastic commute location and low HOA dues (homeowner association fees).
Where is Merrivale West?
This complex is found near the intersection of San Tomas Expressway and Payne Avenue in the 95117 area of San Jose. The main road running through the neighborhood is Millich, but there are a number of smaller streets with the designation of “square” too (Merrivale Square, for instance). From this location, it’s a quick jaunt to Santana Row (just 2 miles!) or to downtown Campbell. It’s easy freeway access too. The location is one of the main reasons for the popularity of this area.
View Merrivale West San Jose Townhouse Community in a larger map
What does it cost to buy a townhouse in Merrivale West?
Homes vary in size and precise location as well as interior condition. Properties are selling from about $600,000 to the a high of a $900,000 to $1 million, as of mid 2020. Larger homes, such as the 1292 sf model (2 bed/2.5 bath) generally sell at the higher end of the price spectrum. Overall, though, selection tends to be slim: homes here sell fast, and the perpetual desirability of the neighborhood helps to keep values up.
Fantastic west San Jose townhome at 3693 Cabernet Vineyards Circle! Just listed today! Offered at $975,000
West San Jose townhome at Cabernet Vineyards Circle
I just listed a beautiful 3 bedroom, 2.5 bath west San Jose townhome near Santana Row and am excited to invite you to see it:
- 2018-10-17 09:30 AM to 12:30 PM
- 2018-10-20 02:00 PM to 04:00 PM
- 2018-10-21 02:00 PM to 04:00 PM
Quick Facts on this west San Jose townhome:
- 2 bedrooms
- 5 bathrooms
- 1496 square feet (per county records)
- 1100 SF lot size (per county records)
- Built in 1990
- Attached 2 car garage
- Townhouse style building, condominium ownership
- Central air conditioning
- Water softener
- Monthly HOA dues 285.86
- MLS # ML81727678
Please browse a sampling of photos to get a feel for this lovely home here. You can see ALL of the photographs at the virtual tour site.
This updated townhouse features an open floor plan and loads of natural light and offers a spacious front patio for dining and relaxing outdoors.
Enter the home from a pleasantly landscaped walkway and see the spacious front patio with plenty of room for entertaining.
The tiled entryway leads to the main living areas of the home, which feature gorgeous engineered hardwood floors, recessed lights, plantation shutters, and a wonderfully open floor plan.
Living and dining:
- Engineered hardwood floors
- Gas log fireplace
- Built in storage
- Recessed lights
- Extra large storage closet under the staircase
The living room boasts an easy care gas log fireplace and some built in storage.
SOLD on July 6, 2018 with 3 offers – 4843 Englewood Dr in West San Jose’s Happy Valley neighborhood – closed at $1,667,250 officially, but seller paid all of the buyer’s agent commission, and net to seller was equal to $1,710,000.
Previous info for when the house was for sale:
4843 Englewood Dr, San Jose, CA 95129 is a spacious, sunny home for sale in the Happy Valley neighborhood! Big back yard! Near Country Lane School, Saratoga Creek Park, shops, dining, movies, and more! On the MLS by Tuesday morning, May 29, 2018.
Do you dream of living with a shorter commute, enjoying a spacious home & yard? Perhaps you’d love a highly regarded neighborhood school just a few blocks away, and shops and dining nearby? These are things many home buyers want, but not everyone has two million dollars to throw at the dream! If this sounds like your wish list, keep reading and make plans to see this newly listed Happy Valley home for sale with your Realtor ASAP, or stop by any of our open houses at 4843 Englewood Dr, San Jose, CA 95129 in the lovely Happy Valley neighborhood (also known as the Country Lane neighborhood). Info on the open house dates is below. This home offers 4 bedrooms, 2 bathrooms, and 1585 square feet of living space on a big 8231 SF lot – and is offered at $1,500,000.
What makes 4843 Englewood Dr, San Jose, CA 95129 so special?
The house itself has a great layout with good-sized rooms and hardwood floors in much of the house. The house is thoughtfully designed and there’s loads of natural light. The size of the back yard is an especially rare find. The location within the Happy Valley neighborhood is ideal – not too close to busy roads, not too close to the school.
Quick Facts for 4843 Englewood Dr., San Jose
- 4 bedrooms
- 2 bathrooms
- 1585 SF (appx)
- 8231 SF Lot (appx)
- Built in 1959
- Offered at $1,500,000
- Schools: Country Lane Elementary, Moreland Middle, Prospect High
OPEN HOUSE SCHEDULE 4843 Englewood Dr, San Jose, CA 95129
- Thursday, May 31 2018 9:30 am to 12:30 pm
- Saturday, June 2 2:00 pm to 4:00 pm
- Sunday, June 3 2:00 pm to 4:00 pm
Disclosures will be ready by Friday, June 1st.
Happy Valley home!
The living room’s large picture window brings in oodles of light, making a wonderful first impression. Hardwood flooring is found in the living room, and all 4 bedrooms – and is under the hallway and dining room flooring, too. This room provides a sense of what the house’s interior is like generally. (Since the house is sold, other interior photos have been removed.)
The amazing back yard at 4843 Englewood Drive: why is it so large?
While many houses in San Jose are set far back from the street, giving an impression of a large lot, most have small back yards. Buyers would prefer that the land be in back, where it would be more used. And that is the case with this home! The house at 4843 Englewood Dr, San Jose, CA 95129 was built forward on the lot, so the 8231 SF lot is largely usable in back – and is a real treat! Check out Google’s satellite view for the perspective.
Here, only a portion of the large patio is shown – but there’s loads of room for entertaining under the stars!
The rest of the yard includes a lawn area, a playground area, and planting beds – but with so much room, you can decide whether you want a pool, a place for a trampoline, or what? Or expand the house into the patio area and still have tons of yard space left.
The neighborhood offers so much, too! Country Lane Elementary is just a few blocks away, as is lovely Saratoga Creek Park – right within the immediate neighborhood. Nearby, there are shops at Westgate, El Paseo de Saratoga, and the shops along Saratoga Avenue and Prospect Road.
A few features to note:
Enormous back yard offering many possibilities: room to add on, build a pool, and more
Hardwood floors visible in living room and all 4 bedrooms
Hardwood floors are also under the Pergo flooring in the dining room and hallway
Fresh paint throughout
New carpet in family room
Attached 2 car garage
Beautiful tree-lined street
Country Lane Elementary
*** Offers after the open house weekend, June 2 and 3 2018. Call regarding offer date. No preemptive offers, please ***
The real estate market in the San Jose area is softening just slightly. Today we’ll consider townhomes in one particular zip code, in west San Jose 95117, to see how this shakes out.
Because real estate market dynamics are largely about supply and demand, a good place to begin is by seeing the supply. Here, in the image below, see the inventory of available townhouses or townhomes for sale in 95117. Some statisticians including sale pending status, but I don’t think that is wise since nearly all of the pending sales do go to closing. Here, I’ve only included properties for sale without any kind of agreed upon contract between buyer and seller.
As of earlier today, there were exactly 3 properties identified as townhouses listed as available in the MLS. What makes this a little tricky is that “townhouse” is an architectural style, and “condominium” is a type of ownership. That could be the topic of a lengthy article all by itself, but some townhomes are held in condo ownership and some are not. Hence, some will be classified by the listing agents as condos and some not. (And, to murk things up even more, there are attached and detached single families homes that are also held in condo ownership – making them both houses or attached houses and condos!)
Be that as it may, as of this morning, there were three townhouses for sale in San Jose 95117. The average of the first 6 months of the year is 2.17, so yes, it’s a bit more, but nothing that I’d lose sleep over. Have a look:
Naturally, we need to see a few real estate market indicators to have a sense of what’s going on. Another good measuring stick is the average days on market, or days to sell. Here, it may be a bit more clear that the market has softened just a bit for townhomes in 95117, as the days to sell has moved to 12 from 8, which is a 50% increase. It’s also clear when viewing the same month, June, in recent years, that this is a tad higher. Alarming? Not at all. Getting a home sold in under 2 weeks would be break-neck speed anywhere else in the country. But – it could be the beginning of a trend. We’ll have to watch it to know for sure.
And, finally, the sale price to list price ratio. Here, again, it’s very plain to see that the sale price to list price ratio is lower than earlier in 2018. And at the same time, we need to appreciate that at 117.9%, it’s significantly higher than any other June since 2012 (and likely a lot longer back). Now, take a look at the other “Junes” and the months before it in various years. Most of the time, that number is lower. This suggests a seasonal trend.
With the inventory and days to sell or days on market, I don’t think it’s as clear that there is a pattern which we might attribute as seasonal. With this last one, though, it seems pretty consistent, suggesting that we should almost expect it to happen. Of course, I only went back to 2012 here, but I would say that in my experience, a little pullback from buyers at about this time of year is pretty normal – at least most years.
San Jose is the hottest real estate market in 2018
Happy Valley neighborhood, Country Lane neighborhood – west San Jose
The Cambrian Park Real Estate Market Update
California Ridge townhouses in Almaden
In west San Jose with the 95129 zip code, near the borders of Saratoga, Cupertino, and Campbell, you’ll find the much beloved Happy Valley neighborhood. The nearby school, which is highly regarded, is Country Lane Elementary, so the area is also known as the Country Lane neighborhood. This is a quiet pocket of understated but very comfortable ranch style homes on lovely tree lined streets.
I have a lovely listing in this neighborhood at 4843 Englewood Dr, San Jose, CA 95129 – please click on the link and check out all the details and photos!
Where is the Country Lane or Happy Valley neighborhood?
The Country Lane or Happy Valley neighborhood is bordered by Doyle Road, Saratoga Avenue, Prospect Road, and Lawrence Expressway. It is almost shaped like a triangle – but not quite. At the southern tip of the area is a commercial complex with a number of shops, restaurants, a hardware store, and much more. Just across Saratoga Avenue from there is Westgate, and “kitty corner” is El Paseo de Saratoga (with movie theaters as well as stores and restaurants). Prospect has more shops, including a See’s Candies, a car wash, eateries, you name it.
How is the commute from this part of West San Jose? What’s nearby?
Depending on where you live in the Country Lane or Happy Valley community, it is about 1.5 miles to either Highway 280 or Highway 85, but you may find that you can commute via Saratoga Avenue, Lawrence Expressway, or San Tomas Expressway. Look at the map, below, to notice how very convenient this location is!
From this area, it may be a comfortable stroll or bike ride to a number of shops and eateries. (more…)
Living room – view from the front door. Beautiful engineered hardwood floos, new baseboard, and fresh paint!
Just listed! 6922 Chantel Court in the west San Jose community of Saratoga Place is now available and open house events are scheduled for the coming days. It’s very nicely updated and move-in ready. Wonderful chance to see and buy a condo for sale with Cupertino schools!
6922 Chantel Court, San Jose CA 95129
1 bed, 1 bath, 582 SF condo – Cupertino Schools! Quiet location in middle of the community!
Offered at $589,950
HOA Dues $317 (covers basic cable, water, and garbage)
Beautifully updated Saratoga Place condo! Move-in ready with fresh paint, new baseboard, new flooring, and new slab granite! Open floor plan. 6922 Chantel Court enjoys fantastic west San Jose location, border of Saratoga and Cupertino, with Cupertino schools.
Stunning, new engineered hardwood flooring in the living room, dining area, kitchen, hallway, and bedroom.
The kitchen provides new slab granite counters, freestanding oven / range with solid surface cook top, microwave, dishwasher, and fridge.
Spacious bathroom features a sink with new slab granite counter, shower over a large soaking tub, and toilet.
Adjacent to the bathroom is the laundry closet with a stacked washer dryer set, also included.
The good-sized bedroom offers 2 closets, one with mirrored doors. Access to the back patio and exterior storage closet.
Radiant heat in the ceiling.
Beautiful community pool and spa. Plenty of patio space for relaxing!
Quiet interior location in the complex. Ground floor unit.
Highly prized Cupertino schools: Blue Hill Elementary, Miller Middle, and Lynbrook High.
Please stop by our open house events at 6922 Chantel Court, San Jose, CA 95129 – come see a beautiful Saratoga Place condo for sale with Cupertino schools. The unit is in quiet location. Fantastic opportunity to get into highly prized schools at an amazing price!
Upcoming Open House Schedule – please stop by!
Saturday, March, 31 2 – 4pm
Full disclosure package for 6922 Chantel Court is available.
Virtual tour: http://www.tourfactory.com/1936239
Walkway to 6922 Chantel Court, San Jose CA 95129
Entry – front door on right side
Living room – view from the front door. Beautiful engineered hardwood floos, new baseboard, and fresh paint!
Living room at 6922 Chantel Court, San Jose CA 95129 in the Saratoga Place community.
Kitchen – open to the living room and entry area.
Kitchen with fridge, microwave, oven / stove, new slab granite counters and engineered hardwood flooring.
Dining area, which is open to both the kitchen and living areas.
View of bedroom twoard patio (with another closet to the left of the sliding glass door).
The bedroom features two closets, one with mirrored doors.
Updated bathroom with new granite counter, new laminate floor and large tub with shower overhead at 6922 Chantel Court, San Jose CA 95129
Stacked washer and dryer
Private back patio for 6922 Chantel Court, San Jose CA 95129
Large pool and patio, ideal for entertaining
Wonderful spa for relaxing
Do you love west San Jose and the 95129 area? Please also read about the Happy Valley neighborhood (aka Country Lane neighborhood)!
First: Days on Market vs Days to Sell: We should start by clarifying that the average “days on market” includes the properties which do go pending and sell (many of them quickly) as well as those which linger on the market a long time and eventually become cancelled, expired or withdrawn listings. The average days on market is usually significantly shorter than the average days to sell for that reason.
San Jose Houses – Days to Sell from MLS Listings
Just now, I pulled the statistics from MLSListings for all of the city of San Jose (all price points, school districts etc.) for single family homes (mostly houses, a few duet homes). This is the Days to Sell info, which specifically views the days on market of homes that DID sell as opposed to all homes on the market. Here’s how the numbers shake out:
As you can see, it’s a strong seller’s market in San Jose, with residential real estate selling above list price (though not nearly as much above as last April!) and homes that go pending doing so at an average of 24 days. Please note that this data represents the properties that DO sell. In every market, there are homes which do not sell. (Usually they are overpriced, but other troubles can be the root of the market rejection.)
Some parts of San Jose are “hotter” than others. Let’s have a look at the Cambrian area, where I tend to be especially active.
If we were to look only at Cambrian houses listed under $1 million, we’d find that the market is hotter still:
San Jose has an average days to sell of 24. In the Cambrian district of SJ, it’s a mere 16 but for homes under $1 million, it’s a rapid, ultra red hot 13!!
Other areas of San Jose are also fairly strong, but please remember that any number of variables (school district, pricing tier, exact location or condition) can make these general numbers not apply to a particular property. Next up: let’s have a view of Evergreen, Blossom Valley, Almaden Valley, Willow Glen, and the Campbell border area of San Jose. (more…)
Today I’m sharing with you Silicon Valley real estate statistics which were presented to me by my company, Sereno Group. These are “by school district” and I think you will find them immensely insightful! First, though, a brief commentary on the overall findings, then statistics for single family homes (mostly houses but a few “duet homes”) in Santa Clara County, and lastly, the same info but for condominiums and townhouses.
Please find the real estate market statistics by school district in the Santa Clara County area next. Please note that the San Jose Unified School District is extremely large and varied, and the numbers would be very different if you were narrowing it to Almaden Valley with Leland High School as opposed to some areas which are not performing nearly as well.