The Monte Sereno Real Estate Market

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 3,500 residents, there usually are few homes listed for sale or selling, and with small numbers we can get seeming volatility. This article is updated monthly with new data and analysis, so scroll down to read the latest and check back regularly. Here are a few details from the latest market update:

  • With so few sales and listings, Monte Sereno real estate data can swing quite wildly in the charts below so take it with a grain of salt.
  • This city appears to be in a seller’s market with severely low inventory, just 5 available homes at the end of March. That’s slim pickings!
  • There were just 2 closed and 3 pending sales last month, which is slightly below this time last year.

There are ALMOST no condominiums or townhomes in Monte Sereno. As of Febuary 2024, the MLS showed just 6 sales in these two categories in total – and that’s going back to 1998! And one of those, at least, appears to actually be in Los Gatos. 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 (an online pdf):  http://www.montesereno.org/DocumentCenter/Home/View/674

Because this is such a small city and there’s a tiny pool of data, please also have a look at the Los Gatos real estate market post on this site.

Below is a quick market profile for the Monte Sereno real estate market. This is updated automatically weekly, so please check back often.

 

Monte Sereno Altos Real-Time Market Profile

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The Cambrian Park Real Estate Market Update

Cambrian Park Real Estate Market graphicThe Cambrian Park real estate market remains a strong seller’s market.

For those new to the area, Cambrian is most of the 95124 zip code (south of Foxworthy) and most of 95118 (west of Almaden Expressway). It borders Los Gatos, Campbell, Willow Glen, and Blossom Valley.

The Cambrian Park Real Estate Market

QUICK STATS from the MLS today, April 10, 2024:

  • 33 single family homes (SFH) for sale in Cambrian (MLS area 14)
    • 19 of these are NOT syndicated right now
    • 12 are “members only, do not show”
    • 7 are “members only, show” – if buyers are only looking at the big portals, they will be unaware that 7 additional homes are for sale!
  • 0 contingent sale (most sales have no contingencies right now)
  • 40 SFH which are “sale pending” (no contingencies)
  • 52 houses sold in the last month
    • Average list price $1,673,149
    • Average sale price $1,908,608
    • Average sale price to list price ratio 116% (lowest was 99%, highest was 182% !!!)
    • Average home square footage 1606 SF
    • Average lot size 6,999 SF
    • Lowest sale price $1,330,000
    • Highest sale price $3,275,000

The chart below is from the RE Report.  The number of sales continues to rise – not that there are 40 pending sales and 26 closed ones! With just 15 active listings, it seems like nearly everything is selling well.

Trends at a Glance

Trends At a GlanceFeb 2024Previous MonthYear-over-Year
Median Price$1,932,500 (+10.1%)$1,755,000$1,525,000 (+26.7%)
Average Price$1,996,490 (-1.8%)$2,032,290$1,584,780 (+26.0%)
No. of Sales26 (+52.9%)1719 (+36.8%)
Pending40 (+25.0%)3228 (+42.9%)
Active15 (+114.3%)724 (-37.5%)
Sale vs. List Price112.0% (+5.1%)106.6%103.3% (+8.4%)
Days on Market(-50.6%)1519 (-60.0%)
Days of Inventory16 (+30.8%)1234 (-52.6%)

 

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Almaden Valley Real Estate Market Conditions

Almaden Valley Real Estate Market Conditions San Jose 95120 - photo with Mt Umunhum in backgroundThe Almaden Valley real estate market is experiencing some up and down, but remains clearly in a seller’s market and much stronger than it was one year ago. Inventory remains perpetually low, so the best homes in great locations are selling like hotcakes while buyers are passing over others that may need more work.

Almaden Valley Real Estate Market Conditions: Trends at a Glance

First, a look at the residential real estate market statistics for Almaden, or San Jose 95120 from the Real Estate Report (a subscription that uses closed / sold data).

Please note that there are 22 closed sales and just 17 active – that ratio tells us that the houses in 95120 are in strong demand. The sale to list price ratio is almost 106%, so we know buyers are competing to get these properties, and most are selling with multiple offers.

 

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$2,205,750 (-1.5%)$2,239,840$2,260,000 (-2.4%)
Average Price$2,370,700 (+6.1%)$2,234,400$2,343,080 (+1.2%)
No. of Sales22 (+29.4%)1725 (-12.0%)
Pending20 (+5.3%)1923 (-13.0%)
Active17 (+30.8%)1329 (-41.4%)
Sale vs. List Price105.9% (+1.4%)104.4%103.4% (+2.4%)
Days on Market14 (+90.7%)726 (-45.3%)
Days of Inventory23 (+8.3%)2135 (-33.4%)

 

Altos Research charts for Almaden Valley real estate market, single family homes segment (more…)

Sunnyvale real estate market trends & statistics

The Sunnyvale real estate market, remains a hot seller’s market.

Sunnyvale real estate market trends and stats at a glance

Here is a quick rundown of the trends at a glance for the Sunnyvale real estate market, with more in the charts below:

  • The average sale price of Sunnyvale homes rose double digits monthly and annually
  • The median sale price was also up monthly and annually
  • Inventory rose from last month but is still short of last year
  • Pending sales are up monthly and annually
  • The sale to list price climbed again – it is a HOT market!

PLEASE visit our ReReport page for data here, throughout Santa Clara County, and also for San Mateo and Santa Cruz Counties.

(If you’re viewing this on a mobile phone, swipe horizontally to see the full chart if it goes off the screen.)

 

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$2,400,000 (+7.7%)$2,227,500$2,367,500 (+1.4%)
Average Price$2,436,140 (+13.5%)$2,146,650$2,208,050 (+10.3%)
No. of Sales33 (+37.5%)2438 (-13.2%)
Pending33 (+26.9%)2636 (-8.3%)
Active16 (+33.3%)1226 (-38.5%)
Sale vs. List Price114.0% (+3.6%)110.0%105.6% (+8.0%)
Days on Market14 (-13.1%)1621 (-33.0%)
Days of Inventory15 (+3.9%)1421 (-29.1%)

 

You may also want to see how Sunnyvale stacks up to other communities in Santa Clara County. If so, click to see the PDF Real Estate Report for Santa Clara County, updated monthly.

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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 have risen by around 1% – 1.5% month-over-month and around 14.5% – 17.5% year-over-year (see charts below for details)
  • Homes are selling extremely quickly with time on market at a 7 day average, while market absorption sped to just 11 days
  • The number of closed and pending sales grew while active inventory slipped a hair month-over-month. Compared to last year, closed sales and active inventory have fallen behind, and pending sales are up a hair.

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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Los Gatos Mountains 95033 Real Estate Market

Damp road in a redwood forest similar to those in the Los Gatos MountainsThe real estate market in the Los Gatos Mountains is very different from the “in town” Los Gatos housing market and really deserves its own separate treatment. The mountain area includes areas both in Santa Clara County and also Santa Cruz County, but the data here will reflect only the area within Santa Clara County. Both sides may have a Los Gatos mailing address with the 95033 zip code.

The Real Estate Report for the Los Gatos Mountains is updated each month with the RE Report info, but the Altos Research live chart automatically updates weekly, so please stop by often to get updated information.

(If you are viewing this on a mobile device, the table below will scroll if you swipe it.)

Trends at a Glance: Los Gatos Mountains 95033

Check out the FULL Los Gatos Mountains RE Report by using this link.

This is a great market for home buyers in the Los Gatos Mountains as sale conditions are fairly soft overall. As always, though, it’s on a house by house basis – it depends on the home’s exact condition, location, and pricing strategy.

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$1,800,000 (+7.5%)$1,675,000$1,015,000 (+77.3%)
Average Price$1,767,640 (+5.1%)$1,681,670$1,115,000 (+58.5%)
No. of Sales15 (+400.0%)3(+275.0%)
Pending13 (-13.3%)15(+85.7%)
Active18 (+50.0%)1223 (-21.7%)
Sale vs. List Price98.5% (+2.8%)95.9%95.9% (+2.7%)
Days on Market76 (+108.4%)3645 (+69.2%)
Days of Inventory36 (-67.9%)112173 (-79.1%)

And the month before:

Trends At a GlanceFeb 2024Previous MonthYear-over-Year
Median Price$1,675,000 (+50.5%)$1,112,940$475,000 (+252.6%)
Average Price$1,681,670 (+53.3%)$1,096,810$708,333 (+137.4%)
No. of Sales(-50.0%)6(0.0%)
Pending15 (+150.0%)6(+87.5%)
Active12 (-36.8%)1912 (0.0%)
Sale vs. List Price95.9% (-1.2%)97.0%95.7% (+0.2%)
Days on Market36 (-49.8%)7272 (-49.5%)
Days of Inventory112 (+17.9%)95108 (+3.7%)

 

 

95033 Real Estate Market – Los Gatos Mountains

Each week, my subscription to the Altos Research Report for the Los Gatos Mountains is automatically updated. Click on the link to view it, or subscribe if you’d like an update emailed to you regularly. You can also click on the link to check other nearby zip codes. Some of 95120 or 95032 can be in the rural areas, too, so check a zip code map in case the area that interests you is closer to Mt Umunhum, over Saratoga, or some other location.

As of the most recent Altos update this market is a mild seller’s market.

 

The mountain communities are many and diverse, so issues in one area, such as too much inventory or not enough listings, may be the opposite somewhere else.

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Morgan Hill real estate market

Morgan Hill land along the Uvas RiverHow is the Morgan Hill real estate market? Signals indicate it is an active seller’s market, though it has been somewhat milder than other parts of the county. Overall we’re past the most extreme peaks and dips, but a backlog of demand and low inventory continues to put pressure on the whole market. Below are some quick points from our RE Report (link below).

  • The average sale price for houses in March was $1,613,200 (+24.1% from the month before and +14.2% from a year ago)
  • The median sale price for single family homes was $1,525,000 (+17.3% from the month prior and +17.3% from this time last year)
  • The sales to list price ratio for homes dipped to 102.2% (-0.8% from the month before and +1.3% from last year). 
  • Days on market picked up the pace month-over-month, averaging 22 days, and market absorption sped to a 24 day average.

It’s still a seller’s market with plenty of competition for the best homes.

See the Santa Clara County real estate market report (for comparison) here.

The Morgan Hill Real Estate Market

The cities of Morgan Hill and Gilroy usually experience a lower demand than other parts of Santa Clara County which are either tech magnets, closer to big businesses, or a quicker commute around the Bay Area. So if most of the Silicon Valley has a sale price to list price ratio of anywhere from 105% to 110%, you might see closer to 97% to 103% here. Not exact numbers, just to say it’s generally lower here making the home buying conditions calmer for weary buyers, though still a sellers market.

Now let’s get into the data.

First up, the market profile from Altos Research – this is updated weekly, so check back often! You can also view the weekly newsletter through the link below, where you can also subscribe to receive this update every week in your inbox. Prefer a particular zip code instead? You can type in your desired zip in the “Search Anywhere” line and then request that particular weekly update by email.

Altos Research weekly report for all of Morgan Hill

Altos weekly report for 95037 only

Altos weekly report for 95038 only

Please note that Altos uses information on actively listed homes for sale, not closed sale data. If you compare the days on market of the active listings with the days on market of the sold properties, they will be different.

Morgan Hill Real-Time Market Profile

 

Trends at a Glance for Single Family Homes in Morgan Hill

Below is a chart with basic info, to see more click on this link to see the Real Estate Report for Morgan Hill.

Month-over-month March pending and closed sales grew while active inventories held stable. Homes sold above asking price on average and with shorter days on market compared to last month and last year. The market is red hot and distinctly hotter than this time last year.

No doubt it’s a clear seller’s market, but compared to other parts of the county it’s noticeably easier for buyers to get their foot in the door here in south county.

 

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$1,525,000 (+17.3%)$1,300,000$1,300,000 (+17.3%)
Average Price$1,613,200 (+24.1%)$1,300,370$1,412,760 (+14.2%)
No. of Sales25 (+66.7%)1525 (0.0%)
Pending28 (+7.7%)2616 (+75.0%)
Active20 (0.0%)2035 (-42.9%)
Sale vs. List Price102.2% (-0.8%)103.0%100.9% (+1.3%)
Days on Market22 (-31.7%)3330 (-26.7%)
Days of Inventory24 (-35.7%)3742 (-42.9%)

 

Single Family Home Live charts from Altos Research (more…)

Los Gatos Real Estate Market Trends

Los Gatos real estate market graphic with home near downtownAs of today, April 8, 2024, the Los Gatos real estate market in 95030 & 95032 remains exceptionally strong.

Across the county, first time home buyers are the most active and more entry level prices is the strongest segment.

Los Gatos real estate market statistics for the last 30 days (not a calendar month)

Numbers for today (pulled from the MLS), going back 30 days – these provide a real time snapshot of the Los Gatos real estate market trends:

  • 49 houses for sale today (April 8, 2024)
    • the average days on market for these homes is 48 days
    • 18 of the 49 have been available for 14 days or less – so quite a few are not selling fast!
  • 2 are contingent, 25 are sale pending (no contingencies)
  • 25 have closed in the last 30 days
    • average home size 2,429 SF
    • average lot size 12,938 SF
    • average days on market = 10 (way down from 43 last month and the 48 for active listings!)
    • average sale price  $3,357,520
    • median sale price $3,200,000
    • average sale to list price ratio 109% (up from 104% in mid-March and 101% in early-mid January)

Six of the sold homes were  $4 mil or more. The highest sale price was $5,300,000. Popular neighborhoods for that price point include the scenic Surrey Farms neighborhood.

Trends at a Glance from the RE Report for Los Gatos 95030 & 95032

The numbers below analyze data gathered during the first week of each month and cover real estate statistics from the month prior in Los Gatos 95030 & 95032 (all areas / school districts), or MLS “area 16”. See the full RE Report here.

These numbers never line up exactly with the MLS figures, but the data trends normally line up.  This time around, though, the RE Report numbers seem a bit off. From the data that I pulled directly from the MLS, the average and median sale prices are up both annually and monthly. With the RE Report it appears to be slipping monthly. The RE Report shows 27 sales, and the MLS shows 28. I suspect that the difference is from the missing sale. 

 

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$3,425,000 (-2.1%)$3,500,000$2,565,000 (+33.5%)
Average Price$3,647,000 (-6.8%)$3,913,630$2,820,590 (+29.3%)
No. of Sales27 (+42.1%)1928 (-3.6%)
Pending31 (+82.4%)1721 (+47.6%)
Active37 (+19.4%)3137 (0.0%)
Sale vs. List Price108.5% (+5.5%)102.8%102.1% (+6.3%)
Days on Market29 (-9.0%)3134 (-14.8%)
Days of Inventory41 (-10.0%)4640 (+3.7%)

 

Further below you’ll find similar charts for houses in the Los Gatos Mountains and also condos and townhomes “in town”.

Los Gatos real estate market statistics: multi year data by month

Here is some Los Gatos real estate market data that I pulled directly from the MLS today.

Inventory of available homes for sale in Los Gatos 95030 and Los Gatos 95032

A quick glance at the last few years suggests that this inventory is still lower than normal, with 2022 (a super overheated Spring) being lower still.

 

Los Gatos SFH inventory - Los Gatos real estate market stats

 

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City of Santa Clara real estate market

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/

The real estate market in the city of Santa Clara, like the rest of Silicon Valley, is one which continues to be impacted by low inventory and extremely high demand.

  • The March sale to list price ratio rose to 115.8%, well over asking price and well above this time last year.
  • Available inventory, closed, and pending sales all rose month-over-month. Year-over-year closed and pending sales are up while inventory lags far behind.
  • Time to sell sped to an average of just 9 days on market, while the average days of inventory (or market absorption) sped to 17 days.
  • Prices didn’t move far month-over-month, and are up about 22%-23% from last year.

Prices in Santa Clara rose astronomically through 2021 and in the first half of 2022. I grew up in that city and was amazed to see that the average and median sales price was hovering around $2 million during the hottest months of 2023! That dropped off around fall and winter, as anticipated, but by February 2024 the average sales price has already topped that $2 million marker!

The Real Estate Market for the City of Santa Clara

Below there are charts for the market activity over the last few months for single family homes in Santa Clara. Market activity has been high for years, and dispite some ups and downs over the last year, it remains high today. Low inventory across the valley means there is still a greater demand to fill than properties available. Further down in the article, we’ll check in on the condo market, too.

First, a market profile, automatically updated weekly, for the city of Santa Clara (these reports are available by zip code, too, and for condos/townhomes as well as single family dwellings). Check out the weekly Altos report HERE and click on subscribe to get weekly updates on all of Santa Clara or any particular zip code. (Scroll to the bottom and check out the profile of houses across 4 pricing quartiles – super interesting.)

 

Santa Clara Real-Time Market Profile

According to Altos, it’s a strong seller’s market with elevated market action. Though there was a clear dip in market action during fall and winter it’s beginning to turn around into spring.

Data from my Real Estate Report

Next, stats at a glance for the Santa Clara real estate market for single family homes.

Demand remains high, however buyers don’t have the same purchasing power that they had in 2021 or early 2022 and many have become more choosy or have dropped out of the competition entirely. Many homeowners are unwilling to part with their properties and low mortgage rates in the current market environment, so available inventory remains low.

Have a look at the market by the numbers below, or visit my RE Report page for Santa Clara stats here.

Trends at a Glance

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$1,954,440 (-0.7%)$1,967,500$1,604,440 (+21.8%)
Average Price$2,041,990 (+0.9%)$2,024,270$1,657,070 (+23.2%)
No. of Sales32 (+77.8%)1828 (+14.3%)
Pending38 (+46.2%)2621 (+81.0%)
Active18 (+20.0%)1524 (-25.0%)
Sale vs. List Price115.8% (+3.7%)111.7%106.6% (+8.7%)
Days on Market(-56.5%)2013 (-32.9%)
Days of Inventory17 (-27.7%)2326 (-34.4%)

 

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Santa Clara County Real Estate Market

The Santa Clara County real estate market shows no signs of cooling!

  • Home prices (median and average – both single family homes and condos / townhomes) are both up monthly and annually.
  • Inventory is up compared to the month before, but 28.3% lower than a year ago (per the RE Report).
  • Days on market and days or months of inventory continue falling. It’s a challenging time to be a home buyer.
  • Nearly all stats point to an increasingly hot market, despite rising interest rates.

 

March 2024 sales stats in Santa Clara County

 

Here’s the RE Report summary table. It’s an excellent summary of our Silicon Valley housing market.

 

Real estate market statistics

 

Multi year real estate data charts for Santa Clara County real estate market (single family homes)

PLEASE NOTE: to view any of the data tables / images below in a larger version, just click on them and you will be taken to our blog post, where the images are larger (except for the first one). Still too small? Click on them in the article and a larger still version will pop up. 

Months of Inventory

First, the months of inventory, which is a great overall way to gauge the market, is hotter and hotter.

 

Santa Clara County months of inventory for single family homes

Inventory

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