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What Type of Home Can You Get for $1,000,000 in Silicon Valley?

by | Apr 5, 2015 | Market Info

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
Mountain View
1,079 SqFt
$931.67/SqFt
5,432 SqFt Lot
Age 62		 Sunnyvale
1,259 SqFt
$780.20/SqFt
6,054 SqFt Lot
Age 66		 Los Gatos
1,647 SqFt
$664.98/SqFt
8,188 SqFt Lot
Age 74		 Los Gatos Mountains
2,013 SqFt
$494.50/SqFt
140,266 SqFt Lot
Age 53		 Evergreen,
San Jose
2,113 SqFt
$460.43/SqFt
6,828 SqFt Lot
Age 26
Santa Clara
1,429 SqFt
$689.81/SqFt
5,337 SqFt Lot
Age 54		 Almaden,
San Jose
1,932 SqFt
$497.88/SqFt
6177 SqFt Lot
Age 43		 Willow Glen,
San Jose
1,518 SqFt
$663.86/SqFt
6,414 SqFt Lot
Age 58		 Cambrian,
San Jose
1,431 SqFt
$679.98/SqFt
6,754 SqFt Lot
Age 56		 Blossom Valley,
San Jose
2,351 SqFt
$406.46/SqFt
6,473 SqFt Lot
Age 28

 

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
Mountain View
1,146 SqFt
$821.26/SqFt
1,865 SqFt Lot
Age 26		 Sunnyvale
1,745 SqFt
$552.64/SqFt
1,335 SqFt Lot
Age 13		 Los Gatos
1,696 SqFt
$576.40/SqFt
1,747 SqFt Lot
Age 42		 Evergreen,
San Jose
2,016 SqFt
$468.01/SqFt
1,742 SqFt Lot
Age 16
Santa Clara
1,790 SqFt
$539.11/SqFt
1,874 SqFt Lot
Age 11		 Cupertino
1,099 SqFt
$862.03/SqFt
2,251 SqFt Lot
Age 34		 Willow Glen,
San Jose
1,954 SqFt
$486.69/SqFt
1,742 SqFt Lot
Age 40		 Cambrian,
San Jose
1,535 SqFt
$605.86/SqFt
1,562 SqFt Lot
Age 8
For various reasons there were a number of areas that did not list results for our search criteria. Saratoga, again, does not make the cut most likely for having a higher price point in general. The Los Gatos Mountains are another area not listed, but that is simply because there are no condos or townhouses in that area. Almaden and Blossom Valley, both neighborhoods in San Jose also came back with zero results.
If you found this post helpful or would like more information on a specific area’s market, look through our market reports, many updated monthly, or contact me.

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
Lot square footage = 10,535
Average price per square foot = $531
Average age = 43 years

 San Jose as a whole:

Home square footage = 2560
Lot square footage = 8343
Av price per SF = $409
Average age = 37
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
Campbell:

Home square footage= 2454
Lot square footage = 10,468
Average price per square foot = $418
Average age = 33 years

 Palo Alto:

Home square footage= 1278
Lot square footage = 6428
Average price per square foot = $816
Average age = 60 years

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 9/30/2023)

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

 
 

 

 

 

Author

  • Mary Pope-Handy

    Silicon Valley Realtor, selling homes in Los Gatos, Saratoga, San Jose, Silicon Valley, and nearby since 1993. Prolific blogger with a network of sites.

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