Real estate

The Monte Sereno real estate market is similar to Los Gatos, but distinct - Monte Sereno shares many features with Los Gatos but is a distinct cityHow is the Monte Sereno real estate market? Because the city is small, with just about 4000 residents, there usually are few homes listed for sale or selling, and with small numbers we can get seeming volatility. Last January, for instance, there was only one home listed and none sold!

There are no condominiums or townhomes in Monte Sereno at present (we are watching closely the proposed development at La Rinconada, which is unincorporated as of this writing). One of the major challenges for this city is to ensure that at least some housing units are deemed “affordable.” You can find the city’s housing plan here (a pdf online):
http://www.montesereno.org/DocumentCenter/Home/View/674

How much home do you get for your money in Monte Sereno?

Altos Research does weekly reports, to which I subscribe. You can see the full weekly report for Monte Sereno HERE and you can click the subscribe button there if you’d like to get it weekly (or navigate to another zip code or city and subscribe to that). Here’s the data on home descriptions per price quartile in the report for today, Oct 10 2018:

2018-10-10 Altos Report for Monte Sereno CA 95030

2018-10-10 Altos Report for Monte Sereno CA 95030

 

Recently closed home sales in Monte Sereno

Here are the quick statistics for the closed sales in the last complete month to give a sense of how things are going with the Monte Sereno real estate market. Sales data comes from my Monte Sereno Real Estate Report. Given that the supply of homes to study is tiny, what can we tell from this data?

It’s true that an average Monte Sereno house is about $2.5-3.5 million, and often higher in the current market – a little steep for most folks! With 11 active, 6 pending, and 4 sales this past month, low data makes it hard to get the most accurate market information. During times like this, it’s more important to look at the trends over multiple months than to base your understanding of the market off a single month, and to compare with similar, nearby markets such as Los Gatos.

Below are the charts from the last two months. Overall, the market is this part of the valley is mostly flat month over month, but up double digits year over year. (Oddly, this market has been heating up while most of the valley has been cooling!)

Trends at a Glance

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $3,650,000 (+47.9%) $2,467,810 $2,625,000 (+39.0%)
Average Price $3,655,000 (+24.1%) $2,944,770 $2,576,250 (+41.9%)
No. of Sales (-16.7%) 6 (-16.7%)
Pending (-60.0%) 5 (-50.0%)
Active (+50.0%) 4 (0.0%)
Sale vs. List Price 101.3% (+4.7%) 96.7% 97.5% (+3.9%)
Days on Market 20 (-5.2%) 21 26 (-23.1%)
Days of Inventory 35 (+74.0%) 20 29 (+20.0%)

 

And last month:

 

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $2,467,810 (-14.9%) $2,900,000 $3,562,500 (-30.7%)
Average Price $2,944,770 (-2.7%) $3,027,330 $3,755,000 (-21.6%)
No. of Sales (0.0%) 6 (+50.0%)
Pending (-16.7%) 6 (+25.0%)
Active (-33.3%) 6 (-20.0%)
Sale vs. List Price 96.7% (-3.6%) 100.3% 97.2% (-0.5%)
Days on Market 21 (-0.8%) 21 82 (-74.8%)
Days of Inventory 20 (-33.3%) 30 38 (-46.7%)

 

Continue reading to view live Altos Research charts for the real estate market in Monte Sereno, including by pricing quartile. Continue reading

Bel Estos Drive near Carlton and Rosswood in San Jose's Cambrian areaMy Cambrian area of San Jose Real Estate Report was recently published with the updated numbers from the closed sales last month for this part of San Jose (95124 and 95118 with a little of 95008 too). Please click on the link above to see much more information there. Those charts are below.

Cambrian is MIXED at the moment, and the determining factor appears to be the school district. Overall, the Cambrian real estate market is a seller’s market, but one that has been softening over the last 6 months with prices coming down, the days on market going up, and conditions becoming more favorable for buyers with the passage of time.

Now, though, there seems to be an uptick in at least part of the Cambrian housing market. If we break it into different segments, we can see that it is not moving as one unified market, but rather as some micro markets moving somewhat independently.  Next, I’ll share some charts I’ve pulled from the MLS this morning to point to that fact, using the Days On Market (DOM) and Sale Price to List Price Ratio.

 

1 – All of Cambrian (MLS area 14, which includes 95124, most of 95118, and a little of 95008)  – days on market and sale price to list price ratio by month, including October so far. Notice that the decline has softened and the market is almost now flat.

 

The Cambrian real estate market - days on market and sale price to list price ratio

The Cambrian real estate market – days on market and sale price to list price ratio

 

2 – Cambrian with the Campbell Union High School District (95124 with some 95118) – same criteria as above

Cambrian with Campbell Union HSD

Cambrian with Campbell Union High School District – days on the market and sale price to list price ratio

It’s interesting that the days on market are steeper so far this month in the CUHSD part of Cambrian. Could it be that homes are more expensive, and price is a factor?  We’ll have to continue to check – see below.

3 – Cambrian with San Jose Unified School District

Cambrian with SJ Unified Schools - days on market and sale price to list price ratio

Cambrian with SJ Unified Schools – days on market and sale price to list price ratio

Here we see a clear indicator that the school district is a major driver in home values. (In fairness, it could also be a commute issue, as this area is farther from Sunnyvale / Mountain View, etc., or that could be a contributing factor.)

What about the impact on price and home size? Continue reading

Leo or Leona - the mascot of Los GatosMost of the Santa Clara Valley is undergoing a cooling trend. With Los Gatos 95030 & 95032, though, it has not been a straight decline as in some areas, though the peak of the market was in March (think February sales with closings 30 days later).  Here are the current numbers, per my Los Gatos real estate report (click on the link for full information).

The Los Gatos Mountains are a distinctly different market and as such are covered in a separate market update, updated less frequently than here, but with live Altos charts for that area.

Los Gatos / Monte Sereno housing values and pricing trends (aka “area 16” for our MLS, zip codes 95030 and 95032) – month over month, it’s down 10.3%, and year over year,  down 16.1%. It remains a sellers’ market in most segments of the Los Gatos real estate market, but if the current trends continue, it will be a buyers’ market in a few months.

Los Gatos Trends at a Glance

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $2,000,000 (-10.3%) $2,230,000 $2,384,000 (-16.1%)
Average Price $2,417,500 (-10.4%) $2,699,150 $2,567,270 (-5.8%)
No. of Sales 25 (-7.4%) 27 44 (-43.2%)
Pending 42 (+10.5%) 38 39 (+7.7%)
Active 62 (+1.6%) 61 47 (+31.9%)
Sale vs. List Price 101.0% (-0.1%) 101.1% 101.1% (-0.1%)
Days on Market 25 (-29.9%) 35 42 (-41.3%)
Days of Inventory 72 (+6.1%) 68 31 (+132.2%)

 

And from last month:

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $2,230,000 (-7.5%) $2,410,000 $2,297,500 (-2.9%)
Average Price $2,699,150 (+11.3%) $2,424,220 $2,742,170 (-1.6%)
No. of Sales 27 (-12.9%) 31 32 (-15.6%)
Pending 38 (+11.8%) 34 47 (-19.1%)
Active 61 (-18.7%) 75 52 (+17.3%)
Sale vs. List Price 101.1% (-0.8%) 101.9% 101.1% (0.0%)
Days on Market 35 (+38.0%) 25 43 (-18.4%)
Days of Inventory 68 (-6.6%) 73 49 (+39.0%)

 

Santa Clara real estate market - The Santa Clara Women's Club http://www.santaclarawomansclub.org/

The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/

Update on the Santa Clara real estate market: The realty market in the city of Santa Clara, like the rest of Silicon Valley, is one in which the sellers have a strong upper hand.

Below there are charts for the activities over the last few months. Low inventory from the past year and continuous low inventory around the rest of the Valley means there is still a much greater demand to fill than properties available. This is clear in the sales price vs list price, which at it’s current high of 119.5%, and has been on the rise after staying near 110% for months. Also, the speed of market turnover (how long a house is on the market) has remained low as far back as we can see on these charts and in under a month. Further in the article, we’ll check in on the condo market, too.

Here’s a glance at the Santa Clara real estate market for single family homes. See the statistics and trends for closings and listings for last month – updated each month on about the 5th – 10th on my RE Report site for realty stats & trends in Santa Clara:

Trends at a Glance

The single family home market is up from last year, but sliding month over month right now. This sometimes happens in the second half of the year and may be a seasonal trend.

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $1,329,000 (-10.2%) $1,480,000 $1,300,000 (+2.2%)
Average Price $1,417,710 (-3.1%) $1,462,530 $1,340,990 (+5.7%)
No. of Sales 32 (-25.6%) 43 60 (-46.7%)
Pending 46 (+64.3%) 28 33 (+39.4%)
Active 55 (+37.5%) 40 19 (+189.5%)
Sale vs. List Price 103.1% (-1.6%) 104.8% 110.9% (-7.0%)
Days on Market 14 (-50.7%) 28 14 (-5.0%)
Days of Inventory 50 (+78.6%) 28 (+442.8%)

 

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 but offers lovely views of the hills and public schools that seem to be improving over time, making the area more desirable.These positives seem to be helping that area to hold its value pretty well. Home prices are still up about 20-25% year over year.

Here’s quick view of the real estate statistic and trends for just the Santa Teresa area’s single family homes (houses / duet homes):

Santa Teresa real estate market stats & trends

The Santa Teresa single family home market is one of the strongest segments in all of Santa Clara County.  Most of the valley has seen prices fall – first month over month, then year over year. Santa Teresa, though, continues to surge ahead, almost immune to market conditions impacting most of San Jose!

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $1,115,000 (+10.9%) $1,005,000 $882,500 (+26.3%)
Average Price $1,091,830 (+1.0%) $1,080,650 $914,062 (+19.4%)
No. of Sales 19 (0.0%) 19 20 (-5.0%)
Pending 17 (-5.6%) 18 19 (-10.5%)
Active 41 (+28.1%) 32 11 (+272.7%)
Sale vs. List Price 103.3% (+2.1%) 101.2% 104.8% (-1.4%)
Days on Market 26 (+6.8%) 25 12 (+120.6%)
Days of Inventory 63 (+23.9%) 51 16 (+292.3%)

 

And the month before:

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $1,005,000 (+0.8%) $997,500 $875,000 (+14.9%)
Average Price $1,080,650 (+3.5%) $1,044,290 $896,360 (+20.6%)
No. of Sales 19 (-20.8%) 24 25 (-24.0%)
Pending 18 (-21.7%) 23 23 (-21.7%)
Active 32 (+39.1%) 23 (+540.0%)
Sale vs. List Price 101.2% (-5.1%) 106.6% 105.2% (-3.9%)
Days on Market 25 (+49.5%) 17 12 (+108.0%)
Days of Inventory 51 (+75.7%) 29 (+742.1%)

 

You can read the Santa Teresa area real estate market report at this link if you’d like more details and statistical analysis. This particular page goes to the report for houses, but you can navigate home type to see condos/townhomes or any other area in San Jose, Santa Clara County, San Mateo County, or Santa Cruz County.

 Also, please note that zip codes don’t always relate to the districts. Zip code 95138 is a great example of that as part of it is in Santa Teresa and part in Evergreen (pricey and upscale Silver Creek). Pull up the averages for 95138 and you might think all the homes are selling for around $1.4 million. But if you look in the charming but more affordable Silver Leaf area of the same zip code, you’ll find the cost half as much – or less! So too with 95123 (though less dramatic) as about half of that is in Blossom Valley and part in Santa Teresa.
It’s good to do a lot of research, but beware the “easy answers” of price per square foot or average sales price per zip code. Often your best help will come from a highly experienced real estate professional who’s willing to help you to crunch the numbers for the Santa Teresa real estate market (boring grunt work but not actually difficult).
And don’t forget the condo market! This can be even more difficult to pin down because of the small amount of data and the wide variety of values.  Overall, it’s pretty much “holding steady” right now. The days of inventory is wonky because there were very few closings in July, and an explosive number of listings (and a huge number of pendings, also). Those pendings will close soon enough, so I would suggest ignoring the days of inventory this time.
Here’s a quick look at the current Santa Teresa condo market from the RE Report data:

Trends at a Glance for Santa Teresa Condos & Townhomes

Prices are up year over year for condos and townhouses in Santa Teresa, and homes are still selling for more than list price on average, but the market is cooling prices lower month over month and with far more inventory and much longer days on market.

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $752,500 (-11.5%) $850,000 $670,000 (+12.3%)
Average Price $771,162 (-10.5%) $861,400 $694,629 (+11.0%)
No. of Sales 12 (+140.0%) 5 (+100.0%)
Pending 13 (-18.8%) 16 15 (-13.3%)
Active 17 (+54.5%) 11 (+750.0%)
Sale vs. List Price 101.7% (-0.9%) 102.6% 105.3% (-3.4%)
Days on Market 28 (+271.7%) 8 36 (-20.4%)
Days of Inventory 41 (-37.8%) 66 10 (+325.0%)

 

And the month before:

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $850,000 (-11.5%) $960,000 $688,000 (+23.5%)
Average Price $861,400 (-7.7%) $933,333 $653,857 (+31.7%)
No. of Sales (+66.7%) 3 (-28.6%)
Pending 16 (+60.0%) 10 16 (0.0%)
Active 11 (-21.4%) 14 (+450.0%)
Sale vs. List Price 102.6% (-8.7%) 112.4% 104.1% (-1.5%)
Days on Market (+52.0%) 5 (-6.7%)
Days of Inventory 66 (-52.9%) 140 (+670.0%)

 

Disclaimers made, here are some Altos Research numbers for the four Santa Teresa zip codes:

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

You’ll note that one of the four zips is super high – this is 95138, which has a number of homes in The Ranch, a subdivision in Evergreen near Silver Creek. The part of 95138 which is in Santa Teresa is considerably more affordable, well under $1 million in the vast majority of cases. So let’s take that one out so we can get a better feel for the true pricing of Santa Teresa homes.

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

Here two of the zip codes seem to be on track with each other, but 95123 is going at a different pace. Half of that area is Blossom Valley, which tends to be a stronger market. Regardless, it would seem that overall, the median list price of homes for sale in Santa Teresa has gone from the mid 700 thousands to the mid 800 thousands over the last year, now hanging out close to the 900 mark. And that’s about what I have seen, anecdotally, too.

Santa Teresa homes for sale

Interested in buying a house, townhouse or condominium in the Santa Teresa area? Below, please check out a list of available properties, listed in order of most recently added to the MLS first. Or better yet, call or email me to discuss working together!

 

  1. 4 beds, 3 baths
    Home size: 1,827 sq ft
    Lot size: 4,530 sqft
  2. 3 beds, 4 baths
    Home size: 1,712 sq ft
    Lot size: 1,437 sqft
  3. 4 beds, 2 baths
    Home size: 1,360 sq ft
    Lot size: 6,050 sqft
  4. 4 beds, 3 baths
    Home size: 2,087 sq ft
    Lot size: 9,787 sqft
  5. 3 beds, 2 baths
    Home size: 1,091 sq ft
    Lot size: 7,418 sqft

See all Real estate in the Santa Teresa community.
(all data current as of 10/17/2018)

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

Related Reading:

How’s the Mountain View real estate market? This is one of the very hottest areas within Silicon Valley and is home to a myriad of high tech companies and in a stone’s throw of others. With a charming and walk-able downtown, easy access to CalTrain and a vibrant atmosphere conducive to both work and play, it is no wonder that people relocating to the San Francisco Bay Area or Silicon Valley place Mountain View squarely in their target.

All that popularity comes at a cost, though. Prices have been sky high here for years, both for rentals and for home purchasing. The good news, though, for those with property or those who take the plunge and buy: it doesn’t look like Mountain View is going to lose its appeal anytime soon.

In this article, which is updated periodically, we will include live Altos Charts which automatically update weekly (so bookmark this page!) as well as monthly insights from the Real Estate Report for Mountain View. And time to time it will be enhanced with “in the trenches” commentary, too.

Overview of the city of Mountain View’s residential real estate market for houses:

Here are the statistics for sales in the last few months. You can see that the average days on market are low at 9 days with homes on average selling well over list price at 114.5%. Overall, the Mountain View real estate market is still a steady seller’s market. See the whole Mountain View Real Estate Report online here.

 

Trends at a Glance for the Mountain View real estate market

The Mountain View real estate market trends indicate that we still have a seller’s market there, if softening in some factors. While much of Santa Clara County has seen a softening market month over month, single family homes in Mtn View are holding their value pretty decently. It’s still a seller’s market – perhaps even a little stronger than last month.

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $2,230,000 (+3.0%) $2,165,000 $1,900,000 (+17.4%)
Average Price $2,316,430 (-2.8%) $2,382,220 $2,080,860 (+11.3%)
No. of Sales (-61.1%) 18 21 (-66.7%)
Pending 21 (+110.0%) 10 13 (+61.5%)
Active 27 (+58.8%) 17 12 (+125.0%)
Sale vs. List Price 103.7% (+0.9%) 102.8% 109.9% (-5.7%)
Days on Market 18 (-12.2%) 21 11 (+65.7%)
Days of Inventory 112 (+294.8%) 28 17 (+575.0%)

Mountain View CA real estate market trends and data by neighborhood

My Real Estate Report drills down the data by neighborhood in Mountain View (and also Palo Alto and San Jose – the latter being very understandable as it’s almost 1 million people, rather than Mountain View’s 75,000 people). Want to check out these areas? Then visit popehandy.rereport.com, select Santa Clara County, then under city choose Mountain View, and under ZIPS select the area you want. Here are your options there:

Please continue reading to see the Mountain View CA real estate market trends data for condominiums and townhouses, plus also the live Altos Research charts for both single family homes and also condos and townhomes.

 

Continue reading

Like most of Santa Clara County, the wild appreciation of the last 5 to 6 years in Blossom Valley seems to now be slowing, and maybe flattening.  It is possible that we have hit the “peak of the market”, but it’s also possible that this is simply a seasonal pattern. Often in late spring to early summer, we see inventory levels rise while buyers pull back. This can cause home sale prices to quite appreciating, and in some years, prices decline just a little bit. In 2017, it seemed that the normal patterns simply broke, as late in the year – November and December – buying was at a feverish pitch normally reserved for March.

About Blossom Valley

The Blossom Valley area of San Jose is on the south end of the city and covers the 95123 and 95136 zip codes. For our MLS, it’s “area 12.” A more affordable section of Silicon Valley, Blossom Valley has much to offer in addition to more reasonable housing prices. Many areas enjoy views of the Santa Teresa Foothills or the Communications Hill knolls or even the coastal foothills in the distance, as with the photo below. One corner of it sits alongside beautiful Almaden Lake, too. One corner is located at the crossroads of Highways 85 and 87, making it an easy commute destination for those working in downtown San Jose. And there’s an abundance of shopping and dining opportunities.

Blossom Valley from the Church on the Hill

Much more could be written, but let’s now instead turn to the real estate market there.

First, “live,” automatically updating Altos Charts for San Jose 95123 and 95136 and single family homes (houses and duet homes). These use list prices, not sales prices.

The median list price of both 95123 and 95136, all prices, single family homes (houses and duet homes, if there are any).

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

Next, the median list price for just the San Jose 95123 area of Blossom Valley, and separated by price quartile:

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

And next, the median list price of just San Jose 95136 by price quartile:

 

Continue reading

The Sunnyvale real estate market has been trending upward for many months. In general, houses in Sunnyvale are selling for about one million eight hundred thousand dollars – if they aren’t too small or in terrible shape (or conversely palatial or newly built or remodeled). Let’s begin with single family homes. The median list price for homes in Sunnyvale CA – by pricing quartile – interestingly, the high end homes are doing the best! (Live charts from Altos Research, which uses LIST prices, not sale prices.)

Sunnyvale real estate market: Altos Research, median list prices by quartile

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

What about the numbers for the closed sales? Now let’s have a look at the Sunnyvale CA RE Report for last month’s trends and statistics (click on link to get the full Sunnyvale real estate market report):

Sunnyvale Real Estate Market Trends at a Glance

Down a bit month over month, but still up from last year.

Trends at a Glance

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $1,824,000 (-1.1%) $1,843,750 $1,710,000 (+6.7%)
Average Price $1,797,670 (-3.6%) $1,864,060 $1,654,290 (+8.7%)
No. of Sales 46 (+4.5%) 44 43 (+7.0%)
Pending 43 (+7.5%) 40 41 (+4.9%)
Active 60 (+25.0%) 48 16 (+275.0%)
Sale vs. List Price 102.9% (-2.4%) 105.4% 114.0% (-9.8%)
Days on Market 21 (-0.9%) 21 15 (+38.6%)
Days of Inventory 38 (+15.6%) 33 11 (+250.5%)

Although the market has cooled from spring, it’s still a seller’s market – just an easier one for buyers now vs 6 months ago.

What about the Sunnyvale condo and townhome market?

Continue reading

Almaden Valley homes for sale and real estate market conditionsThe Almaden Valley real estate market is in a declining market month over month, but is still up year over year. This is true for most of Santa Clara County.

This is likely a great “buying opportunity” for those home buyers who were feeling priced out of the market a few months ago. Whether it is a seasonal blip or the beginning of a correction is impossible to know at this time. September’s sales popped back up a notch in pricing. The market may be leveling out, or will we see a trend reversal? Time will tell.

Single family homes are still selling on average at 100.7%, less than last month, but still in the seller’s favor, so bear that in mind.

Please find the current statistics for single family homes (houses & duet homes) from my Almaden Valley real estate report (click on link for more info).

Almaden Valley San Jose 95120 Real Estate Statistics At A Glance

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $1,610,000 (+4.8%) $1,536,000 $1,425,000 (+13.0%)
Average Price $1,667,090 (+8.4%) $1,537,350 $1,576,030 (+5.8%)
No. of Sales 23 (+15.0%) 20 25 (-8.0%)
Pending 22 (-21.4%) 28 21 (+4.8%)
Active 39 (+14.7%) 34 24 (+62.5%)
Sale vs. List Price 100.7% (-2.0%) 102.7% 102.7% (-1.9%)
Days on Market 21 (+28.1%) 16 24 (-15.2%)
Days of Inventory 49 (-3.6%) 51 28 (+76.6%)

 

and the month before –

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $1,536,000 (-2.3%) $1,572,500 $1,462,500 (+5.0%)
Average Price $1,537,350 (-10.1%) $1,709,550 $1,574,170 (-2.3%)
No. of Sales 20 (-37.5%) 32 24 (-16.7%)
Pending 28 (+21.7%) 23 24 (+16.7%)
Active 34 (-10.5%) 38 21 (+61.9%)
Sale vs. List Price 102.7% (-2.1%) 104.9% 107.0% (-4.0%)
Days on Market 16 (+15.6%) 14 12 (+32.7%)
Days of Inventory 51 (+43.2%) 36 26 (+94.3%)

 

Altos Research charts for houses in Almaden (San Jose 95120)

Please note that Altos Research uses list prices of Almaden Valley homes for sale, not sold prices.

An overview:

90-day stats for Single Family properties in
SAN JOSE, CA 95120 as of October 12, 2018
Median List Price:$1,643,915Average List Price:$1,834,451
Total Inventory:37Price per Square Foot:$695
Average Home Size:2,497Median Lot Size:8,852
Average # Beds:4.19Average # Baths:3.19
Homes Absorbed:7Newly Listed:8
Days on Market:42Average Age:41

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

Continue reading

How’s the Cupertino real estate market?

Cupertino - view from Ridge Vineyards

Cupertino – view from Ridge Vineyards

Much of the Santa Clara County is seeing lower prices than it did back in March or April, but most of the county is “up” year over year.

Cupertino, though, is not. Nearer to the bottom of this post, please check out the RE Report stats and note that prices are lower by 19 and 9%, respectively, for the median and average sale prices of single family, resale homes in the city of Cupertino.

One month does not a trend make, but we’ll be following this carefully.

About this info:

The real estate market in Silicon Valley can sometimes be a little quirky, so I like to approach this question from a few angles. In this article I’ll make use of  my charts from Altos Research, which uses listing data (not solds) and is automatically updated every week and also monthly reports from my RE Report subscription, which uses sold data as well as active listings data. Also I’ll periodically update it with info from the MLS that I have crunched myself or anecdotal stories from those of us “in the trenches.” The article is a bit long but I think much more comprehensive giving the multiple methods of answering the question of how the Cupertino real estate market is faring.

See also: new listing as of July 17, 2018 in Cupertino with Monta Vista High at 1190 Crestline Drive

Cupertino median list price of houses by price quartile

Often the real estate market in any given city is very different between the most expensive homes and the most affordable ones. While many Cupertino home buyers are looking for a short commute, great public schools or strong resale value, some seek a luxury property with a view in the Cupertino hills (either off of Montevina Road by Ridge Vineyards or in other lower foothills). The more moderate pricing tiers are faring better in Cupertino and in most of the valley than those in that luxury tier (think over $3 or $4 million for luxury tier in this city).

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

The last few months have had some ups and downs in pricing, but most segments of the Cupertino real estate market have seen an overall uptick since last year, even after a bit of recent price cooling. The luxury market in Cupertino had a steep rise at the start of the year, but it appears to have peaked. What if we look back more than a year? Combining the quartiles, it seems that there’s been more up than down, though buyers will be happy to see the current trend is pointing down.

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

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


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2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


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