The Cambrian Park Real Estate Market Update

Cambrian Park Real Estate Market graphicThe Cambrian Park real estate market remains a strong seller’s market with prices continuing to rise as compared to the same month a year ago.

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 Trends at a Glance

The chart below is from our subscription to the RE Report.  The market has soften a little, but it’s no relief for buyers with properties selling 8% over list price on average and selling in 17 days on average, too.

The month over month prices are down a little, which is seasonally fairly normal, but prices remain up compared to a year ago.

Trends At a GlanceJun 2024Previous MonthYear-over-Year
Median Price$1,800,000 (-7.1%)$1,938,000$1,725,000 (+4.3%)
Average Price$1,948,770 (-3.5%)$2,019,380$1,929,600 (+1.0%)
No. of Sales38 (-37.7%)6157 (-33.3%)
Pending38 (+11.8%)3436 (+5.6%)
Active31 (-3.1%)3223 (+34.8%)
Sale vs. List Price108.0% (-3.4%)111.8%109.1% (-1.1%)
Days on Market17 (+106.6%)810 (+63.1%)
Days of Inventory24 (+50.3%)1612 (+102.2%)

 

 

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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 May sale to list price ratio dropped -4.4% since last month, but remains at a jaw dropping 114.3% of asking, well above this time last year!
  • Available inventory rose month-over-month while closed and pending sales slipped. Year-over-year closed sales and active inventory are up while pending sales are relatively stable.
  • Time to sell slowed to an average of just 10 days on market, while the average days of inventory (or market absorption) slowed to 17 days.
  • Prices rose month-over-month, and are up about 28%-29% 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 had already topped that $2 million marker and continues to rise, still well above that in May. While it may decline some later in the season, there is the sense that this may be the new norm.

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 rising through spring, finally leveling out around the start of summer.

Data from my Real Estate Report

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

Despite rising interest rates and limited options for buyers, the market for single family homes in the city of Santa Clara is going wild!! Homes on average are selling more than 14% over asking in just a week and a half – it’s a red hot seller’s market!

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 GlanceMay 2024Previous MonthYear-over-Year
Median Price$2,190,000 (+8.3%)$2,021,500$1,706,000 (+28.4%)
Average Price$2,218,020 (+6.5%)$2,082,080$1,718,320 (+29.1%)
No. of Sales46 (-8.0%)5039 (+17.9%)
Pending32 (-15.8%)3833 (-3.0%)
Active26 (+13.0%)2320 (+30.0%)
Sale vs. List Price114.3% (-4.4%)119.5%108.2% (+5.6%)
Days on Market10 (+24.0%)818 (-42.0%)
Days of Inventory17 (+27.1%)1315 (+10.2%)

 

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Pepper Lane townhomes in Berryessa

The Pepper Lane townhomes in Berryessa are young, stylish, and highly sought after. If you aren’t familiar with this community in San Jose, it’s worth knowing about!

 

Townhomes at Pepper Lane in the Berryessa area of San Jose

Why the Pepper Lane townhomes?

Several things make the Pepper Lane townhouses popular:

  • they enjoy highly regarded public schools, including Vinci Park Elementary School
  • they were built by Pulte Homes, a well respected builder
  • they are young – constructed between 2011 and 2015
  • they are located close to major commute routes, such as Highway 680
  • homes feature open layouts, spacious kitchens, high ceilings, attached garages, and some sort of outside space
  • the community provides a playground, a dog park, greenbelt areas, and a community center
  • the monthly HOA dues are low

While this neighborhood is close to a major freeway, the homes are surprisingly quiet inside. We found this to be true at another Pulte development in a similarly noisy area, too, at the Altura neighborhood, previously reviewed by us on this website. The double pane windows make an enormous difference.

 

Greenbelt and playground at Pepper Lane in San Jose's Berryessa district

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1252 Chiapas Terrace, San Jose, CA 95126

1252 Chiapas Terrace, San Jose, CA 95126 PENDING in 7 days with 5 offers!

We are delighted to present our newest listing, 1252 Chiapas Terrace, San Jose CA 95126. This young townhome provides 2 bedrooms plus den, 2 .5 bathrooms, and an open layout with 1667 square feet. It’s full over luxury upgrades, all the features that today’s buyers want, and it’s situated in the gorgeous Altura neighborhood near Santa Clara University. The list price is $989,500.

1252 Chiapas Terrace, San Jose CA 95126 - luxurious kitchen and big breakfast bar

The Quick Look at 1252 Chiapas Terrace, San Jose:

  • Altura townhome community built in 2006 by Pulte Homes
  • 2 spacious bedrooms plus den with 2 ensuite full baths, and a powder room on the main floor
  • Main floor fully open with spacious kitchen featuring stainless steel appliances, gas range with 5 burner stove, granite counters, wood cabinetry and wide breakfast bar with pendant lights above
  • Washer, dryer, and Fridge all stay
  • Attached 2 car garage with side-by-side parking
  • Central air conditioning
  • Dual pane windows by Milgard
  • High ceilings, recessed lights, plantation shutters, water softener and so many extras – see the full list at the virtual tour!
  • MLS #ML81917776

 

1252 Chiapas Terrace, San Jose virtual tour and 3D walkthrough

Please visit the virtual tour: 1252ChiapasTerrace.com for the virtual tour with all photos, a 3D iGuide walk through, and under “details” you’ll find a printable PDF with the floorplan and room measurements, too.

Open house this weekend

We will be hosting an open house this weekend,  Sat Feb 4 and Sun Feb 5, from 2 – 4 pm. Please stop by! (Park on Campbell Avenue or at the back of the complex along De Altura Commons.) These homes are very popular, so if you cannot make the open house, please arrange for your buyer’s agent to show you the home soon. It’s very easy for your Realtor to make the appointment with our simple online scheduling system. If you need a buyer’s agent and do not have one, please reach out to me and we can connect you with a Realtor who can show this home to you and represent you should you decide to write an offer.

 

Front door and porch at 1252 Chiapas Terrace, San Jose CA 95126

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Vizcaya neighborhood

VizcayaOne of the prettiest townhome communities in Santa Clara County is Vizcaya, which features a Mediterranean style of architecture in a community that is extremely tidy and well maintained. Driving in, it feels like you’ve just arrived at a resort.

Where is Vizcaya?

The Vizacaya neighborhood is in San Jose just off S Bascom and Curtner Avenues, but is close to the Campbell border and confusingly, has a Campbell mailing address. The community’s streets are Vizcaya Circle, Vizcays Way, and Pescara Court. The location is very convenient, with easy access to shopping, bus lines, and major traffic routes.

What are the homes like at Vizcaya?

Built between 1990 and 1996, these 92 townhomes are younger feeling and tend to have fairly open floor plans and plenty of large windows. The home sizes range between 2396 SF and 2656 SF, but many are so nicely designed that they tend to feel like single family homes.  Lot sizes average around 4,100 SF (pretty big for a townhouse). The parcels range in size from  2480 SF to over 10,000 SF but most are 3000 – 5000 SF.

The homes in the Vizcaya community are condominiums with a townhouse architectural style. (Some townhouses are held in PUD ownership. In some locations, such as Almaden and Los Gatos, there are houses which are condos – or held in condo ownership.) There’s a small pool and spa at the center of the complex for residents to enjoy. The day I took the photos shown in the gallery, below, painting was ongoing next to the pool, so it isn’t shown.

 

 

What does it cost to buy a townhome in Vizcaya?

These upscale properties don’t come on the market too often, but if you are lucky enough to find one available to buy, chances are that it will cost over 1.6 million or a more (as of this writing in 2022).

Vizcaya homes for sale, pending, or sold in the last 12 months:

  • List View
  • Map View
  • Grid View

See all Vizcaya townhome community, California Real Estate.
(all data current as of 7/15/2024)

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

 
 

 

 

 

Understand the Pros and Cons of Homeowners Associations in Silicon Valley

The Pros & Cons of HOA Homeowners AssociationsHomeowners Associations (HOAs) are created to oversee condominium complexes, townhome communities and planned unit developments (PUDs) on behalf of their members. These are non-profit organizations whose purpose is to manage common areas, enforce neighborhood rules and standards, and often, unofficially, to foster community unity too. In most cases, they collect fees from members and have local authority. In other words, if you do not pay your homeowner association dues, or abide by one of its rules*, the HOA can and usually will fine you or even foreclose on you!

There are loads of HOAs in Silicon Valley. As with all organizations, some are better run than others. Its a little different than owning real estate outside of a homeowners association.

What are the pros and cons to Homeowners Associations?

At their best, Silicon Valley HOAs keep the communities they manage beautifully landscaped and maintained, they hire good providers for needed improvements, and minimize risk to all the members. By having reasonable rules and community buy-in, the neighborhood can look inviting and property values can be better maintained.

At their worst, HOAs can be unresponsive to members needs, erratic, arbitrary and irresponsible. They may, by poor planning, cause huge assessments to be necessary or raise HOA dues so that they are very high – to the point where they make homes hard to sell. Not only are those an unhappy occasion, they can also make it hard to sell a home with a special assessment looming. Fortunately, this is seldom the case in most areas – but if the HOA has a high number of defaults due to owner bankruptcy or inability to keep up with mortgage, property insurance etc. it can cost all of the members eventually.

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Monte Sereno Real Estate and Homes for Sale

Homes for Sale in Monte SerenoMonte Sereno is an upscale, small city of about 4,000 residents. It shares police, parks, library and school services with neighboring Los Gatos and the residents of Monte Sereno tend to be very involved in the life of Los Gatos for that reason. In a sense, they are like sister cities living next door to each other.

Monte Sereno is not just a mini-me of Los Gatos, though.  Unlike its larger next door neighbor, there’s no industry in this city.  Aside from the post office and city offices, it’s 100% residential: there are no commercial buildings whatsoever. And it’s pricey! Houses tend to be a bit more expensive in MS, even though it has the same schools (a larger driver of home values in Silicon Valley) and zip codes with LG. There are a good number of estate properties and luxury homes too. Looking for an exclusive neighborhood? This will fill that bill – along with much of Los Gatos and Saratoga.

How’s the real estate market in Monte Sereno?

I update my readers via this blog and also via my Live in Los Gatos blog fairly often on various Silicon Valley communities, including Monte Sereno. Here are a couple of resources for keeping a pulse on the market trends and statistics in this neat little city:

Properties for Sale in Monte Sereno CA

The vast majority of residential real estate in Monte Sereno is single family homes (houses & duet homes), but there are a few townhouses in the city limits too (some townhouses are held in PUD ownership, others in condominium ownership). Also, most (99%) of Monte Sereno is in the 95030 zip code (tiniest of fractions in 95032) and in the Los Gatos School District (tiny fraction in Moreland schools).

At any given time there are usually fewer than 50 houses or homes for sale. Below are the listings currently on our MLS, beginning with those listed most recently. If you click through, you may also view the available properties via map – an easy way to get a lay of the land!

  • List View
  • Map View
  • Grid View

See all Real estate matching your search.
(all data current as of 7/15/2024)

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