Santa Teresa real estate market

Silver Leaf Park in the Santa Teresa area of San Jose - the proximity of parks will impact the Santa Teresa real estate market for that neighborhood

Silver Leaf Park in the Santa Teresa area of San Jose

How’s the Santa Teresa real estate market? The scenic Santa Teresa area of San Jose is popular as it’s a bit more affordable, offering lovely views of the hills and public schools that seem to be improving over time making the area more desirable. These positives appear to be helping that district hold its value well. Here are a few details from the latest monthly market update for Santa Teresa single family homes (read the full analysis below):

  • Both the single family and condo / townhouse market are seller’s markets with extremely few available listings, per the latest monthly data.
  • Average and median sale prices for single family homes had some up and down of about 1.5% month-over-month, with year-over-year growth of around 11.3% – 14.3% (see charts below for details)
  • Homes are selling extremely quickly with time on market at an 8 day average, with nearly as fast market absorption at just 12 days
  • The number of active inventory, closed, and pending sales all grew month-over-month. Compared to last year, available inventory was a hair short, but closed and pending sales rose.

To begin our analysis below, we have some live data feeds broken up by zip code. Santa Teresa (our MLS Area 2)  includes a small bit of the 95123 zip code, which is more expensive, but most of that zip code is Blossom Valley, so we will omit it. The 95138 zip code is about half Santa Teresa and half Evergreen (more expensive area), so take those numbers with a big grain of salt. I find the 95119 zip code to be most helpful, but even then, the school district is divided between Oak Grove and Morgan Hill.

Weekly update from Altos Research with a “market profile” of San Jose’s Santa Teresa area, zip code 95119 for single family homes / houses:

When there’s not enough data, the fields will be blank.

 

Santa Teresa of San Jose 95119 Real-Time Market Profile

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The Santa Teresa area within the City of San Jose

Silver Leaf Park in the Santa Teresa area of San Jose

Silver Leaf Park in the Santa Teresa area of San Jose

A scenic, more affordable part of San Jose with excellent freeway access is the Santa Teresa region, which is perhaps the southernmost part of the city. The east foothills and the Santa Teresa foothills create pleasant views and some areas are still rural. Price ranges have a wide gap between lowest and highest, with some luxury properties in some of the hilly eastern side. Most of the homes for sale, though, are less than the median or average for San Jose as a whole.

Where is the Santa Teresa area?

Per the MLS, the Santa Teresa district of San Jose spans a few zip codes (95119, 95138, 95139 and a little bit of 95123 north of 85 and the 95119 zip code). (The city of San Jose has a different map that includes far more of 95123.) An easier description might be the area close to where Highway 101 and Highway 85 intersect in South San Jose, or the area through which Santa Teresa Boulevard runs. It is north of the Coyote Valley, it  borders on Blossom Valley and the southern part of Evergreen, and is just over the hills from the Almaden Valley. It truly is South San Jose, and part of it even has Morgan Hill Schools, though most of the area is served by the Oak Grove School District.

The Santa Teresa foothills include gorgeous, large open space, the Santa Teresa County Park. It’s a wonderful place to walk or hike, and for suburban dwellers, easy access to rural or natural space, even within the city.

Some of the better known neighborhoods in Santa Teresa are these:

  • Avenida Espana (95119 zip, has Morgan Hill Schools – Bernal Road is the cutoff)
  • Chantilly (95119 zip, has Morgan Hill Schools)
  • Edenvale (kind of a sub-district)
  • Sunspring
  • Silver Leaf (near Silver Leaf Park, between Monterey Highway & Hwy 101 – 95138 zip code)
  • Basking Ridge (newer homes on a small hill just over 101 – one of the last subdivisions you see before hitting the open countryside, north of Metcalf Road – 95138 zip code)
  • Los Paseos (95119 zip, has Morgan Hill Schools)
  • California Maison
  • Burning Tree
  • Martinvale Vineyard
  • Rancho Santa Teresa
  • Oak Ridge
  • Makati
  • Anderson
  • Miner
  • Oak Grove
  • Deer Run
  • Great Oaks

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