Silver Leaf Park in the Santa Teresa area of San Jose
A scenic, more affordable part of San Jose with excellent freeway access is the Santa Teresa region, which is perhaps the southernmost part of the city. The east foothills and the Santa Teresa foothills create pleasant views and some areas are still rural. Price ranges have a wide gap between lowest and highest, with some luxury properties in some of the hilly eastern side. Most of the homes for sale, though, are less than the median or average for San Jose as a whole.
Where is the Santa Teresa area?
Per the MLS, the Santa Teresa district of San Jose spans a few zip codes (95119, 95138, 95139 and a little bit of 95123 north of 85 and the 95119 zip code). (The city of San Jose has a different map that includes far more of 95123.) An easier description might be the area close to where Highway 101 and Highway 85 intersect in South San Jose, or the area through which Santa Teresa Boulevard runs. It is north of the Coyote Valley, it borders on Blossom Valley and the southern part of Evergreen, and is just over the hills from the Almaden Valley. It truly is South San Jose, and part of it even has Morgan Hill Schools, though most of the area is served by the Oak Grove School District.
The Santa Teresa foothills include gorgeous, large open space, the Santa Teresa County Park. It’s a wonderful place to walk or hike, and for suburban dwellers, easy access to rural or natural space, even within the city.
Some of the better known neighborhoods in Santa Teresa are these:
- Avenida Espana (95119 zip, has Morgan Hill Schools – Bernal Road is the cutoff)
- Chantilly (95119 zip, has Morgan Hill Schools)
- Edenvale (kind of a sub-district)
- Sunspring
- Silver Leaf (near Silver Leaf Park, between Monterey Highway & Hwy 101 – 95138 zip code)
- Basking Ridge (newer homes on a small hill just over 101 – one of the last subdivisions you see before hitting the open countryside, north of Metcalf Road – 95138 zip code)
- Los Paseos (95119 zip, has Morgan Hill Schools)
- California Maison
- Burning Tree
- Martinvale Vineyard
- Rancho Santa Teresa
- Oak Ridge
- Makati
- Anderson
- Miner
- Oak Grove
- Deer Run
- Great Oaks
What does it cost to live in Santa Teresa?
Naturally, location, size, view, condition, and many other factors influence the cost of housing. To give a rough ballpark, though, I ran the sold properties over the last three months (as of Feb 6, 2015) and here are the numbers for houses or single family homes:
Least expensive home sold: $624,999 2 bed, 2 bath, 960 SF (appx), 4,879 SF lot (appx)
Most expensive home sold: $1,125,000 5 bed, 2.5 bath, 2,527 SF (appx), 8,904 SF lot (appx)
Averages of the houses sold in the last ninety days: $814,263 (appx sale price, which was almost the same as the list price), 1,722 SF home (appx), 6,287 SF lot (appx)
How’s the Santa Teresa real estate market?
As is often the case, the market is very different depending on the particular home’s pricing and placement. Some houses are overpriced, look terrible, are impossible to see…. Other properties are well staged, easy to view, have complete pre-sale disclosure packages, and are priced aggressively (on the low side rather than the high side). With the latter situation, home values can easily skyrocket, especially in the lowest price points. More expensive homes, or those not well situated to sell, may have a terrible time of it.
Of the properties studied above, most sold fairly close to list price but some went for as much as $70,000 over list.
Of pending sales there is little information except by word of mouth. Right now inventory is still very tight, but over the past 6 months the market has seen some fluctuation. While some homes are still selling well above list, more are selling very close to or below list, which goes along with the cooling we’ve seen. A lot of it depends on the number of offers. With more than 3-5 offers, the price is likely to go sky high.
All of that said, home prices are just creeping up on the values from the peak, though. While Cupertino, Palo Alto, Sunnyvale, Menlo Park and other areas surpassed the old peak a year or two ago, areas which are either farther from work centers or areas with school scores which are not a big draw have been lagging in the recovery. But Santa Teresa is almost there! Read more about the Santa Teresa real estate market here.
GREAT ARTICLE on the beautifully scenic Santa Teresa Foothills:
http://www.rhorii.com/SantaTeresaHills/Sthills2.htm
Homes for sale in the Santa Teresa area of San Jose
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