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:

 

 

 

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

Here are the numbers for listings and closings of single family homes last month – please click on this RE Report Link for much more Blossom Valley real estate data, including past months:

 

Blossom Valley Single Family Home Real Estate Trends at a Glance

While much of Santa Clara County and Silicon Valley are seeing significantly softening markets, the real estate market in Blossom Valley is incredibly tough and has been doing some bouncing up and down a bit (like Santa Teresa is doing) rather than a straight decline.  Prices are up strongly from a year ago, and right now, flattening. Seasonal? I think so – but we’ll have to watch and see. Many other parts of the valley have worse indicators. Only time will tell.

Trends at a Glance: Strong Market in Blossom Valley

While much of Santa Clara County has been seeing a softening market, and some areas are down year over year, prices in this part of San Jose are still strong. There’s a little slippage month over month, but year over year it remains a double digit situation.

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $988,000 (-5.9%) $1,050,000 $894,500 (+10.5%)
Average Price $1,012,500 (-5.5%) $1,071,520 $910,796 (+11.2%)
No. of Sales 53 (-3.6%) 55 64 (-17.2%)
Pending 58 (+5.5%) 55 62 (-6.5%)
Active 69 (-12.7%) 79 15 (+360.0%)
Sale vs. List Price 103.0% (-2.1%) 105.2% 105.8% (-2.7%)
Days on Market 23 (+46.5%) 16 18 (+28.2%)
Days of Inventory 38 (-12.4%) 43 (+455.5%)

 

And the month before:

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $1,050,000 (+2.4%) $1,025,000 $879,000 (+19.5%)
Average Price $1,071,520 (+1.5%) $1,055,350 $900,058 (+19.1%)
No. of Sales 55 (-17.9%) 67 58 (-5.2%)
Pending 55 (-12.7%) 63 56 (-1.8%)
Active 79 (+2.6%) 77 22 (+259.1%)
Sale vs. List Price 105.2% (-0.9%) 106.2% 105.2% (0.0%)
Days on Market 16 (-8.9%) 18 15 (+9.2%)
Days of Inventory 43 (+25.0%) 34 11 (+278.7%)

 

The condo market in Blossom Valley

Condominium and townhouse real estate in San Jose’s Blossom Valley area:

Median list price continues to increase in the condos of zip codes 95136 and 95123.
Real Estate Market Chart by Altos Research www.altosresearch.com

Now just 95123 and a look at the 4 pricing tiers.

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

And next the median list price in just San Jose 95136, also with 4 pricing levels:

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

It’s a very hot seller’s market.

And now let’s look at the Blossom Valley real estate statistics and trends for closed sales of condos and townhomes last month. Days on market are up to 24 days, which would be like lightening speed anywhere else, but this is a lot longer than the 8 days we had a few months ago.  Prices are holding their own pretty well, barely slipping month over month in August.

Blossom Valley Condo Real Estate Market Trends at a Glance

It’s pretty strong year over year! The market is softening, but it is still way up from last year, and homes are continuing to sell for 101.4% over list. Days on market are considerably longer, though, indicating far more buyer choice, and likely some easier sales to be made with homes which have languished on the market.

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $677,500 (+3.0%) $657,500 $580,000 (+16.8%)
Average Price $650,276 (-0.7%) $654,922 $603,351 (+7.8%)
No. of Sales 26 (+44.4%) 18 39 (-33.3%)
Pending 18 (-33.3%) 27 28 (-35.7%)
Active 64 (+39.1%) 46 10 (+540.0%)
Sale vs. List Price 101.4% (-0.9%) 102.3% 105.6% (-4.0%)
Days on Market 25 (+4.2%) 24 15 (+71.9%)
Days of Inventory 71 (-6.9%) 77 (+860.0%)

 

And the month before:

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $657,500 (-0.8%) $663,000 $550,000 (+19.5%)
Average Price $654,922 (-1.0%) $661,652 $540,569 (+21.2%)
No. of Sales 18 (-21.7%) 23 29 (-37.9%)
Pending 27 (+3.8%) 26 41 (-34.1%)
Active 46 (+15.0%) 40 (+475.0%)
Sale vs. List Price 102.3% (-2.7%) 105.2% 105.7% (-3.3%)
Days on Market 24 (+33.3%) 18 11 (+124.0%)
Days of Inventory 77 (+46.9%) 52 (+826.4%)

 

Here’s the link for more info on the condominium and townhouse real estate market in Blossom Valley (San Jose 95123 & 95136).

 

  1. 3 beds, 2 baths
    Home size: 1,554 sq ft
  2. 3 beds, 3 baths
    Home size: 1,508 sq ft
    Lot size: 7,958 sqft
  3. 2 beds, 2 baths
    Home size: 950 sq ft
    Lot size: 757 sqft
  4. 2 beds, 2 baths
    Home size: 950 sq ft
    Lot size: 757 sqft
  5. 4 beds, 2 baths
    Home size: 1,624 sq ft
    Lot size: 5,998 sqft

See all Real estate in the 95123 zip code.
(all data current as of 10/21/2018)

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

 

Related Reading:

Santa Teresa real estate market

Almaden Valley Real Estate Market Conditions & Homes for Sale

The Cambrian Park Real Estate Market Update

 

 

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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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