Evergreen area of San Jose (Silicon Valley)San Jose’s Evergreen district is in a seller’s market that’s continuing to accelerate through spring. This article will examine the data from sales and active listings in this residential real estate market with live charts and monthly updates. Here are a few points from the latest Evergreen single family housing market update, provided in more detail below:

  • April sales took an average of 11 days on market to sell, a full month quicker than this time last year!
  • The sales to list price ratio rose again month-over-month at 109.9%, up +2.2% above last month and up +9.3% from last year.
  • Single family home sales prices in April had some up and down. Average sales prices dipped -3.2% and median sales prices grew +7.2% month-over-month, though they were both up +6.4% and +10.1% respectively year-over-year.

The Evergreen area of San Jose includes many newer homes and communities. It is a desirable Silicon Valley district as Evergreen is scenic and most of the area enjoys highly regarded schools, particularly at the elementary and middle school levels.

Evergreen Real Estate Market Report: Single Family Homes

The RE Report considers all of the Evergreen district together. Please find the full report on my Real Estate Report for the Evergreen area of San Jose. Further down, you’ll see live charts with more zip code specific details.

The market is showing a strong sellers market with some up and down from the month before. This hot market is far from balanced!

Active inventory grew month-over-month and remains well below this time last year – which was still well below a more typical spring market! Pending sales soared, while closed sales fell sharply month-over-month. Meanwhile year-over-year active inventory and pending sales fell behind with closed sales up by a hair. The sales to list price ratio rose by +2.2% since the month before, and up +9.3% over this time last year. Homes on average took 11 days to sell, and with prices around 6% – 10% higher than this time last year.

Data indicates a strong seller’s market with increasing activity nearing spring’s likely peak in the Evergreen single family home real estate market.

Trends at a Glance

Trends At a GlanceApr 2024Previous MonthYear-over-Year
Median Price$2,062,500 (+7.2%)$1,924,000$1,872,500 (+10.1%)
Average Price$2,063,060 (-3.2%)$2,131,910$1,938,070 (+6.4%)
No. of Sales20 (-37.5%)3218 (+11.1%)
Pending27 (+58.8%)1723 (+17.4%)
Active20 (+81.8%)1131 (-35.5%)
Sale vs. List Price109.9% (+2.2%)107.5%100.5% (+9.3%)
Days on Market11 (-41.9%)1941 (-73.2%)
Days of Inventory29 (+181.2%)1050 (-41.9%)

 

Altos Research: Evergreen real estate market for single family homes or houses by zip code

95148

Evergreen of San Jose 95148 Real-Time Market Profile

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

 

See the weekly newsletter for the 95148 zip code HERE. Like it? Click the Subscribe button in the upper right corner and get this Altos Research update emailed to you weekly.

95121

Evergreen of San Jose 95121 Real-Time Market Profile

Here, Altos is also showing a strong seller’s market with a market action that’s slowly growing.

And the median price graph for 95121:

Evergreen of San Jose 95121 Real-Time Market Profile

The top pricing tier above is showing more changes, but it’s not a huge number of houses. One ultra expensive luxury home selling sky high can cause wild swings.

See the weekly 95121 housing market newsletter HERE.

95135

Evergreen of San Jose 95135 Real-Time Market Profile

Evergreen’s 95135 is currently in a strong seller’s market with hardly any inventory. Low inventory can sometimes cause wild swings in data, so take it with a grain of salt!

And the Median Price graph for 95135:

Get the weekly update for 95135 HERE. Subscribe!

95138

Evergreen of San Jose 95138 Real-Time Market Profile

In January 2024 the chart for 95138 dropped back down to a slight seller’s market for the first time in months, and it only rose out of that in early April, now once again a strong seller’s market.

And the Median Price graph for 95138:

The weekly 95138 real estate market newsletter from Altos Research – sign up to get it in your inbox!

The condominium and townhouse market for the Evergreen area of San Jose

Evergreen condos and townhomes saw some up and down in April. The sales vs list price ratio jumped to 104.4% of asking, and turnover sped to an average of 17 days on market. Available inventory and closed sales grew while pending sales dropped month-over-month.

Compared to last year, active inventory is low while closed and pending sales shot up. Prices may have slipped, but don’t appear to have changed significantly. With so few sales any swings in data may say more about the types of properties selling rather than any major shift in market values.

It’s still a seller’s market for Evergreen condos and townhomes, with even more April sales than the single family housing market!

Trends at a Glance

Trends At a GlanceApr 2024Previous MonthYear-over-Year
Median Price$850,500 (+3.1%)$825,000$884,000 (-3.8%)
Average Price$900,411 (+5.6%)$852,579$906,253 (-0.6%)
No. of Sales28 (+47.4%)1917 (+64.7%)
Pending15 (-40.0%)25(+66.7%)
Active15 (+25.0%)1217 (-11.8%)
Sale vs. List Price104.4% (+1.1%)103.2%102.3% (+2.0%)
Days on Market17 (-54.2%)3725 (-32.6%)
Days of Inventory16 (-18.0%)1929 (-46.4%)

Low to no inventory is not unusual in this market! So take this data with a grain of salt, since it can swing wildly with such a small pool for reference. While often this chart is completely blank, recently (4/8/2024) it has shown a slight buyer’s advantage with 2 available listings, and as of the latest look (5/6/2024) it’s now risen into a slight seller’s advantage with 4 active listings.

And the Median Price for Condos in 95148:

 

Read the weekly 95148 newsletter HERE.

95121

Evergreen of San Jose Condos 95121 Real-Time Market Profile

Low to no inventory is common in these first two zip codes – there are just so few condos and townhomes for sale! Lately it’s been showing climbing market action in a strong seller’s market.

And the Median Price for Condos in 95121:

 

The weekly update for San Jose 95121 condos / townhomes.

95135

Evergreen of San Jose Condos 95135 Real-Time Market Profile

At last, an area with more inventory! Condo and townhome inventory in 95135 continues to exceed the inventory of other zip codes in Evergreen ‘s condo market (and even the single family home zipcodes) with 16 active listings as of this writing. With more inventory, there’s less competition in this market making it a good option for weary buyers, though in the end it’s still a strong seller’s market!

And the Median Price for Condos in 95135:

Read the weekly townhouse and condominium real estate report HERE.

95138

Evergreen of San Jose Condos 95138 Real-Time Market Profile

Condos in 95138 have also frequently had too few listings to chart, and this has been about par for the course for months. Finally there’s inventory, and on May 6, 2024 it’s showing 4 active listings with a slight seller’s advantage. With low inventory, market action can fluctuate dramatically without much significance, so take this with a grain of salt.

And the Median Price for Condos in 95138:

Read the automatically updated newsletter for condos and townhouses in 95138 HERE.

Where is Evergreen?

The Evergreen area is in the southeast foothills of San Jose. For the San Jose City Council, it is within District 8 (see a map of the Council Districts here).

Boundaries are generally along or near Tully Road to the north, Capitol Expressway and 101 to the west, San Felipe Road to the south, and the foothills to the east. Neighboring districts or cities are Coyote Valley to the south, Santa Teresa and South San Jose to the west, and Alum Rock to the north.

Evergreen includes a few zip codes – 95148, 95121, 95135, and a portion of 95138 (part is also “Santa Teresa” or “South San Jose”) and even a little sliver of 95111. You can see a map of the crazy relationship between the district boundaries here. The local multiple listing service, MLSListings.com, includes a much broader area, going deep into the east foothills (which are not densely populated).

Evergreen MLS Boundary areas

There’s a lot of diversity in this region – the areas in the flat lands near the Mall or Capitol Expressway, Reid-Hillview Airport, and water park are more modest and affordable as compared to the areas further east and south where you’re more likely to see luxury properties (Hillstone, Bel-Aire Estates, The Meadowlands, The Ranch on Silver Creek, Silver Creek Valley Country Club and nearby). Pricier areas feature larger lots and houses and valley or hillside views set near the golf courses (Silver Creek Valley Country Club, The Ranch Golf Club, and the Villages Golf & Country Club).

Evergreen Schools

Most of Evergreen is in the highly regarded Evergreen School District (elementary and middle schools, which have strong school ratings) and the East Side Union High School District (with Evergreen Valley High School or Silver Creek High School).

How's The Silicon Valley Real Estate Market?If you live in Evergreen now, or are thinking you’d like to sell or buy a home there, you’ll want to get a better understanding of the current real estate market conditions. The information below is naturally a little generic, applying to either all of Evergreen or to a particular zip code. All real estate is local, though.  It may be different by pricing tier, exact location, home style, or amenities (such as pool, no pool, large garage vs no garage). All of these things can be factored in and may apply to your particular home – or dream home – market. For property specific data, please reach out to me and let’s see if we can work together in buying or selling your home.

Contact Mary Now 408 204-7673Are you looking to buy or sell a home in the Evergreen district of San Jose, or anywhere in Santa Clara County? Please email me at mary@popehandy.com for a no-obligation, no-pressure conversation by phone. If it seems like a fit, we can then meet in person and discuss your real estate needs and formulate a plan.