Pricing in the San Jose Real Estate Markets of Almaden Valley, Cambrian Park and Willow Glen

San Jose is the largest city in Santa Clara County (or Silicon Valley) with about one million residents. The districts or areas within San Jose vary tremendously in many ways, including their respective real estate markets.

Today we’ll have a comparative look at the median list prices in the housing market in three areas & zip codes of San Jose: Almaden Valley (95120), Cambrian Park (95124) and Willow Glen (95125).  First, how these three areas line up against each other and against San Jose as a whole in terms of the median list prices of homes for sale in the last year.

Please note: the charts below are “live” html and the commentary is appropriate as of today, Nov. 23, 2015  The charts will continue to change and be updated,though, so it’s possible that a year from now the commentary may seem disjointed.  Now you’ll know why!

First, a glance at Almaden, Willow Glen, Cambrian and San Jose generally.

 

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

 

Almaden prces took a little dip in mid to late summer, and so did Willow Glen 95125.  Cambrian 95124, though, has been very strong (as I can attest from working with buyers and sellers there recently). San Jose as a whole is close to flat.

 

San Jose as a whole, by price quartile is next. It is pretty level generally at this time.

 

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

 

Next, let’s focus on the Almaden Valley area of town by price quartile also:

 

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

 

As we might expect, the least volatile pricing is in the most affordable homes.

Next, Cambrian Park…
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Schools serving Los Gatos and Monte Sereno students: how do they compare?

Newcomers to the Los Gatos and Monte Sereno areas often have trouble sorting out the local school districts, and whether or not one area has better performing students than another.  (In many areas, the school district is firmly tied to the city or zip code. Not here!) My advice is to visit the schools in person, talk with people there if possible, and do a lot of research since school scores do not tell the entire story. That said, they do tell part of it – and they are a simple way to compare side by side.

Today I took a few minutes to compile a list of the public schools which serve the residents of Monte Sereno and Los Gatos (town, not the county areas in the mountains – the Los Gatos Mountain schools score very very well overall) and to note their API Scores for 2013, the most recent year for which we have data.   As you can see below, the scores for the elementary and middle schools are really excellent across the board and in all districts, and in many cases the elementary schools in the LG Union School District are not as high as those outside of it.    The real difference shakes out at the high school level.   (It should be noted, too, that Saratoga High has a score of 938 and residents within the Los Gatos-Saratoga Joint Union High School District can apply to go there, or at least have been able to do so in the past.)  *Please click on the image below to see a larger version of it.

 

Schools serving Los Gatos and Monte Sereno

 

Home values are influenced by many factors, one of them often being school scores.  Twenty years ago, many Los Gatos residents felt that they had to be “in the schools” to give their children a quality education.  Many do still prefer the Los Gatos Union School District, but it’s not as uniformly thought before since the scores in the Union School District have been rising quite a lot in recent years.  The part of San Jose (Cambrian) which falls within the Union School District is extremely popular now due to the more affordable price tag with really great schools.   Many of them are expecting the scores at Leigh High School to rise in time since all of the “feeder schools” are scoring in the 900s.

 

 

 

Market Report for Williams School Area of Almaden Valley As Compared To The Rest of San Jose 95120

How is the Williams Elementary School area of San Jose’s Almaden Valley 95120 doing in terms of the real estate market? Today we’ll look at the Williams area as compared to Almaden as a whole to see. First, the basic realty trends and stats for this nice section of Silicon Valley side by side for this year only (I pulled and crunched all of this data from MLSListings.com myself tonight, “deemed reliable but not guaranteed”):

1. Comparison of the average price per square foot for all of Almaden (including the Williams area) with just the Williams area of 95120:

 

StatusAverage $ per SF Williams Area only All Almaden (including Wms)
1Active$428$415
2Pending with release$365$372
3Pending w/out release$556$439
4Pending do not show$355$414
5Sold$418$399

 

While there is some fluctuation from one status to the next, at the end of the day there’s one number that matters the most, and that’s what actually sold and closed.  In the Williams area, homes have sold at an average of $418 per square foot while in Almaden generally (including this area), the price is $399 per square foot – about 5% less. This is tremendously important to understand if you are trying to purchase a home in the Williams area – homes there do, in fact, sell for more than in most parts (perhaps all parts) of the Almaden Valley.

Next, the stats for just the Williams area followed by the stats for all of 95120.
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Move Up Market Comparison for West Valley Communities of Los Gatos, Almaden, Saratoga, Cupertino and More for June 2010

How's The West Valley Real Estate Market?How’s the move-up real estate market in the west valley areas of Silicon Valley?  Today we’ll have a glance at the segment of the realty market (for houses for sale, not condos or townhomes) with list prices between $800,000 and $1,200,000 in Almaden, Cambrian, Los Gatos/Monte Sereno, Saratoga, the LG Mountains, Cupertino and Campbell.  (Monte Sereno has very few properties in this price range so it wasn’t helpful to break it out separately.)We will look at a few of the statistics for the area as a whole, but look at the absorption rate or months of inventory area by area.

Recent sales: In all of these areas combined, there were 146 houses or duet homes which have closed escrow (sold & closed) in the last 30 days.  Only 4% total were short sales (2%) or bank owned property sales (another 2%).  Bargain hunters trying to scoop up one of these be aware: it’s slim pickings!

Of the 146 houses sold, ten of them went “all cash”, all but one of the rest were “conventional” (could mean any range of down payments but a regular loan) and one was listed as “other” so it could have been owner financing. None, of course, were FHA backed financing – the limits are too high for that.

For all areas combined, the average list price to sales price was 99.68%.   Lots of variation from one area to the next, though, just as with the absorption rate or MOI, which is covered below. Cupertino’s ratio was 102.34%, while  in Campbell it was 95%.

Absorption rate or months of inventory: It varies on the school district, price point, home type and home sale type (distressed vs regular sale).  For example, in Almaden Valley right now, overall it is a strong seller’s market – prices are rising, especially in the lower price points, and the months of inventory is a very brisk 1.8 (6 is said to be “balanced”, more than 6 is a buyer’s market and less than 6 is a seller’s market). Short sales are at 2.6 months of inventory overall.  But look at homes selling between 1.2 mil and 2 million and it’s a different story: in that part of the market it’s 5.8 months of inventory – almost “balanced”.

Here’s how they stack up for months of inventory:

 

Silicon Valley's "West Valley" Communities' MOI for Move-Up Homes

 

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