Five years ago I wrote my first post about what you can buy for $1,000,000 in Silicon Valley. This is still a significant question for first time buyers in the area and those wishing to relocate to the Valley, so it’s time for a refresher. Here we will take a new look at some statistical averages for homes that sold between $900,000 and $1,000,000 within the last 90 days, comparing various towns, cities, and neighborhoods. There are two charts, one for single family homes and a second for condos and townhomes. There were some places we looked at that had nothing for sale within our pricing – these are listed below the charts with explanations.
For those of you who are curious the post from 2010 is left at the bottom, and we were in a buyers market at the time – very different from the prolonged sellers market we are experiencing now.
To start off with, here is the chart for single family homes:
|Single Family Homes for $1 Million|
5,432 SqFt Lot
6,054 SqFt Lot
8,188 SqFt Lot
|Los Gatos Mountains
140,266 SqFt Lot
6,828 SqFt Lot
5,337 SqFt Lot
6177 SqFt Lot
6,414 SqFt Lot
6,754 SqFt Lot
6,473 SqFt Lot
We also searched in Saratoga where there were no homes listed as sold within our criteria. Saratoga is a highly desirable area with most of the homes selling closer to the $2 million marker. For more on the current Saratoga market, check out our market analysis page for monthly updates. Cupertino also returned with no results.
Now on to townhomes and condos:
|Condos & Townhomes for $1 Million|
1,865 SqFt Lot
1,335 SqFt Lot
1,747 SqFt Lot
1,742 SqFt Lot
1,874 SqFt Lot
2,251 SqFt Lot
1,742 SqFt Lot
1,562 SqFt Lot
Now, the original post from September 21, 2010:
You’ve heard that prices are a little high in Silicon Valley. Even with the recession and the “rollback”, this is still true. So what can you buy for $1 million here?
In Santa Clara County (which is most of “Silicon Valley”), in the last 3 months there were about 50 -75 homes that sold very close to $1 million. They were spread throughout the county. Here’s a snapshot of what a million dollar home in Silicon Valley looks like.
(Reminder: these are 2010 figures)
|Santa Clara County:
Home square footage= 2115
|San Jose as a whole:
Home square footage = 2560
|Los Gatos:Home square footage= 1810
Lot square footage = 8866
Average price per square foot = $580
Average age = 57 years
|Saratoga:Home square footage= 2055
Lot square footage = 10964
Average price per square foot = $483
Average age = 53 years
Home square footage= 2454
Home square footage= 1278
Depending on where you live, you can get more or less for your money. In some areas, a million dollar price tag will get you a townhouse rather than a house, too. In some areas, it’s a luxury home, but in many it’s simply a nice, middle-class home.
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(all data current as of 1/18/2021)
Listing information deemed reliable but not guaranteed. Read full disclaimer.