How’s the Silicon Valley real estate market? Because the Silicon Valley region is so large – comprising of all of Santa Clara County, much of San Mateo County, and a little of Alameda County and Santa Cruz County – the real estate market is really quite different from one area to the next.
On a county level, San Mateo is usually the hottest with the most expensive real estate that sells in the shortest time with the most overbids. Expect to pay $1.4 million for an OK house, but nothing luxurious, there.
Santa Clara county is the heart of Silicon Valley (San Jose claims to be its capital) and a little calmer but still a nightmare for people coming from other parts of the country. That same house will sell with multiple offers, go fast and go for more than list price, but all the numbers will be a little softer than SMC. You might be able to get that $1.4 million house for $1 million to $1.1 million in the South Bay.
Within Santa Clara County, the areas with the best schools, shortest commutes, or both without being solely “luxury homes” tend to be the most in demand. These most competitive areas include:
Santa Cruz County is a bargain by comparison! It is 10-20% less expensive than Santa Clara County, homes are selling closer to list price and you can breath before signing the contract. Just don’t take too long – homes there are still not waiting around if they are well priced, staged, and marketed.
Below, please find a link to my Real Estate Report which covers the real estate market all three counties (sorry, Alameda is not part of my MLS system, so it will not be discussed much in this site). You can navigate from one to the next very easily – just select a different county.
Please contact me for specific information for your Silicon Valley home or the one you want to buy! Remember, the realty market is comprised of many, many “micro markets” and your home’s price point, school district, or any number of things could make it a little different – or even a lot different – from the broad numbers shared here.