Los Gatos real estate market trends

How's the Los Gatos real estate market? How are Los Gatos Real Estate Market Trends?The Los Gatos real estate market trends are mildly in the seller’s favor “in town” (95030 and 95032, MLS area 16) and mildly in the buyer’s favor in the mountain areas (95033).

As always, the homes selling fastest are in “turnkey” condition, have no location issues, and are priced a little low or right at the perceived market value, and not aiming too high on the list price.

First, some data from Altos Research, with data based on currently listed properties (not sold homes) by zip code. This will automatically update each week.

 

Los Gatos 95030: schools and downtown proximity

 

 

The chart above represents 95030 in Los Gatos (only, not Monte Sereno). If you’d like to see the FULL weekly report, use the following link and save it, as it will be updated automatically every 7 days:

Altos Research Weekly Report for Los Gatos 95030

This part of Los Gatos has the Los Gatos Union School District and features locations closer to downtown Los Gatos than 95032 or most of 95033 (the Los Gatos Mountains area). For that reason, it’s a little pricier than other parts of town. With the higher prices come a bit slower of a real estate market, so here Altos says that it’s a market only slightly in the seller’s favor.

 

Los Gatos 95032: schools and commute

 

 

The 95032 zip code in Los Gatos is more complicated than 95030 for a few reasons. First, part of it is in the Los Gatos Union School District, part is in the Campbell Union School District (west Los Gatos near the Saratoga and Campbell borders), and part is in the Union School District (shared with the Cambrian zip code of 95124 in San Jose). All are good to great schools at the elementary and middle school level. At the high school level, Los Gatos High will have a little more draw due to stronger scores than Westmont or Leigh High (in the Campbell Union High School District), so that part of 95032 will sell for a bit more.

Altos Research Weekly Report for Los Gatos 9503032

Additionally, since west Los Gatos is closer to Cupertino and Apple, and other high tech employment centers, that side of 95032 will sell for a little more than east Los Gatos – though that could change with the new Google complex in downtown San Jose.

 

Inventory for Los Gatos 95030 and 95032 (MLS Area 16)

 

Below please note the history of the Los Gatos inventory of single family  homes from January 2013 to the present. The number of listings on the market is not so huge (home buyers can attest to this), but there’s a common misconception that inventory is bloated. That’s just not true.

 

Los Gatos Inventory of single family homes 2019-9-12

Los Gatos Inventory of single family homes 2019-9-12

 

Read more ›

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Foster City, California Real Estate

Search House Magnifiing GlassFoster City, California real esate is popular for its short commute times and easy access to San Francisco. Additionally, many homes sit close to the San Francisco Bay and enjoy beautiful water views. The majority of residential real estate in Foster City is relatively young by local standards – you are unlikely to find a 100+ year old Victorian in this clean bayside community!

Interested in the real estate market conditions there? Check out my real estate report for Foster City (from here you can toggle to condos and townhomes or to any other community in San Mateo County, Santa Clara County, or Santa Cruz County).

Check out the homes for sale in Foster City today:

Newark real estate market trends

Looking for a more affordable Silicon Valley community with good schools to call home? Newark is conveniently located near Fremont and not far from the Dumbarton Bridge (leading to the San Francisco Peninsula) or to the Santa Clara County border, with Milpitas and North San Jose area. Below I have a couple of links to Altos Research weekly reports that will provide automatically updated information on the Newark real estate market trends.

Newark real estate market trends for single family homes

Newark real estate market trends for condominiums and townhomes

As of this writing, I have a beautiful Newark condo listed and it’s a great value!  Gated community, secure buildings, pools, spas, community rooms and gym and low HOA dues.  Here’s some information on it.

You can learn even more by visiting the virtual tour, including the open house schedule: https://www.tourfactory.com/2639120

Murieta condos in Newark, CA - resort like living!

Murieta condos in Newark, CA – resort like living!

Beautifully updated condo, open floor plan, ideal location!

Living room at 39887 Cedar Blvd # 250, Newark CA

Living room at 39887 Cedar Blvd # 250, Newark CA

Offered at $539,888
Low HOA dues of $376 per month

MLS #ML81765328

Remodeled kitchen at Murieta in Newark

Remodeled kitchen at Murieta in Newark

Spacious and updated 2 bedroom, 2 bath condo, with warm and tasteful décor in luxurious, resort like community. Fantastic location within Murieta, at back of complex, away from road noise. The unit is close to the elevator but has no adjoining walls, so is very quiet. Read more ›

See the Valley of Heart’s Delight Blog

Dear Readers,

I love to write and have a number of blogs – but most of my writing on the Silicon Valley real estate market, home buying and selling tips, negotiation strategies and more you can find at my Valley Of Heart’s Delight blog. Please check it out, as that one is updated on a very regular basis, often daily – or more!

ValleyOfHeartsDelight.com/blog   which forwards to SanJoseRealEstateLosGatosHomes.com

San Martin Real Estate

San Martin is a South County community which lies between Morgan Hill on the north and Gilroy on the south. It shares many characteristics with both, though it does not also have a downtown per se. Parcels are larger and it’s even more of an agricultural area than the Morgan Hill or Gilroy for that reason.

San Martin has wineries,  garlic, mushroom farms, and quite a bit more agriculture. It features an airport, too.

To see how the market is doing, take a look at the Altos Research market profile below, which will be automatically updated each week. (You can also view the weekly San Martin market report and request it to be emailed to you.)

Next, the median list price of single family homes in San Martin (there are no condos or townhomes there):

The average Days on Market next:

Average price per square foot in San Martin:

And inventory of houses for sale in San Martin:

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Morgan Hill

Morgan Hill: The Gateway to South County

El Toro in Morgan Hill

Slightly warmer and more inland than much of Santa Clara County, the “South County” communities of Morgan Hill, San Martin, and Gilroy exude the feel of peaceful country life, while maintaining plenty of urban resources.

Morgan Hill is a newer community with a population of mostly middle class professional households. It is also one of the fastest growing cities in Santa Clara County.

Many Morgan Hill homes were built within the last 30 years. The northern part of town, off Cochrane Avenue, is bustling with new home and retail construction as of 2015+.  One of those newer neighborhoods is Mission Ranch, and within it there are some very new communities such as Terra Mia at Mission Ranch.

View from Jackson Oaks in Morgan Hill

View from Jackson Oaks in Morgan Hill

Looking for a view property? Love to boat? You may want to consider purchasing a home in Holiday Lake Estates or Jackson Heights, which sit near beautiful Lake Anderson.

If a lush, green area near the coastal foothills is your ideal, you’ll want to take a drive out to the Llagas area.

Or maybe what will perfectly fill the bill is a “walk to downtown” location. Morgan Hill enjoys a very attractive downtown area with some great restaurants and shops.

For many, it’s almost never necessary to leave Morgan Hill, as it offers just about everything (other than a hospital)

Morgan Hill is still known primarily for its wineries (such as Guglielmo), farmland, and fruit stands. With plenty of open space, active farms and ranches, three nearby golf courses, regional parks, tennis, softball, soccer, the placid Lake Anderson and a myriad of other activities, there is always plenty to do. Many Silicon Valley commutes are between ½ hour and 1 hour long, though several major employers offer locations in the area, such as Abbott Labs, Media Arts, and Anritsu. Crime rates are low and schools range from above average to excellent with strong family support.

If you’re interested in the Morgan Hill Real Estate Market, please check out the post on my Valley of Heart’s Delight blog.

San Martin & Gilroy

Just south of Morgan Hill is San Martin, an unincorporated area which shares many characteristics with both Morgan Hill and Gilroy.

In Gilroy, home of the famous Garlic Festival, summertime is full of fun with many other summer music opportunities and occasional street dances and holiday parades. The outlet shopping is famous, and a large draw on the weekends. Gilroy Gardens makes it a great destination for families with kids, too.

Below please find a live Altos Research chart, showing the median list price of homes for sale in both Morgan Hill and Gilroy – this will give you an  idea of what a house might cost there.

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

Read more ›

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Cupertino California Real Estate Market

Cupertino has been a hot ticket item for a long while. With plenty of business, major employers like Apple, great public education and parks, it’s no surprise this is a highly desirable place to call home. Both the single family and condo markets have been hot for years, but with the prolonged seller’s market that’s surrounded the South Bay for the last year or more, things are even crazier than usual.

So how to we understand the market?

Using data from the MLS, below are two different charts for analysis. Firstly, the RE Report takes the data of home sales over the last month and compares it with the month prior and the year before to identify shifts and trends. At the bottom of this page is a graph taken from Altos Research, which used data gathered from the same source but divides the housing market into pricing tiers, showing the market trends and changes within these distinct groups from entry-level to luxury markets.

Cupertino Single Family Housing Market

For an average sized home in Cupertino, expect to pay no less than $2,000,000 – a high price for a popular community. The average and median price has risen by double digits since last year, and with sales selling for higher above list price, the market is definitely hotter than 2016. Sales vs list price percentages are stable since last month, with homes selling well over list price. Homes are selling on average in about one month, a speedy turnover, and many more have sold than are active. There is a strong sellers market that refuses to let up in the single family market in Cupertino. Read the full RE Report with more information through the link.

Trends At a Glance Jan 2019 Previous Month Year-over-Year
Median Price $2,300,000 (+2.2%) $2,250,000 $2,485,000 (-7.4%)
Average Price $2,361,680 (+7.1%) $2,204,190 $2,539,920 (-7.0%)
No. of Sales 13 (+44.4%) 9 (+44.4%)
Pending 12 (-20.0%) 15 15 (-20.0%)
Active 10 (+150.0%) 4 12 (-16.7%)
Sale vs. List Price 99.9% (+0.3%) 99.6% 113.1% (-11.6%)
Days on Market 43 (+31.7%) 33 (+541.2%)
Days of Inventory 23 (+73.1%) 13 40 (-42.3%)

 

Cupertino Condo Market

In most markets, condos show very different trends from the housing market, usually being much slower. That being said, a prolonged seller’s market and a huge lingering demand has made many condo markets just as hot as their housing couterparts, and Cupertino is no exception. Sales vs list price shows that properties are selling on average at 110.5% of list price – almost as high as single family homes – and faster at a mere 18 days on market. With that in mind, notice what a small inventory the data is collected from. With low numbers, the percentages can swing wildly and are not as reliable. Looking at trends over many months is more helpful in this case. Condos have been selling quickly and well over list price for as far back as the charts show, meaning the condo market is a firey hot seller’s market. Read more in the full RE Report through the link.

Condo Market Trends at a Glance

Trends At a Glance Jan 2019 Previous Month Year-over-Year
Median Price $1,370,000 (-7.4%) $1,480,000 $1,369,000 (+0.1%)
Average Price $1,370,000 (-7.4%) $1,480,000 $1,369,000 (+0.1%)
No. of Sales (0.0%) 1 (-50.0%)
Pending (+100.0%) 2 (-42.9%)
Active (+125.0%) 4 (+80.0%)
Sale vs. List Price 98.6% (-0.8%) 99.4% 119.9% (-17.7%)
Days on Market 54 (+440.0%) 10 (+620.0%)
Days of Inventory 270 (+125.0%) 120 75 (+260.0%)

 

Altos Research Cupertino Market by Pricing Quartiles

The chart below shows market trends for Cupertino divided into four pricing tiers. Looking at it in quartiles shows not only the average cost of properties, but also the differing trends. Here you can see that the luxury sector has harsher high and low points, and that the current luxury market has falling prices for the first time in a while. the lowest price points are the most stable, and show a fair amount of stability through last spring and summer. The high-end (but not luxury) market may have some bumps, but it’s on a steady upward trajectory, meaning this might be where buyers are facing the greatest challenges and fighting to make competitive offers.



Contact Mary Now 408 204-7673If you’ve found this information helpful and you are interested in buying or selling a house in Cupertino or around Silicon Valley, I would love to hear from you! Feel free to check out more of my posts on housing markets and neighborhoods around the South Bay, as well as tips for buyers and sellers on my other blogs as well: Valley of Heart’s Delight and Live in Los Gatos. Let’s arrange a time to chat by phone, and if it seems like we might be a good fit to work together, we can arrange a time to meet. (No obligation, no cost, no pressure.)

 

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Los Altos

Downtown Los AltosLos Altos is one of Santa Clara County’s most prestigious towns (read “among the most expensive Silicon Valley real estate”). Prices for houses currently begin at about $2.5 million for a home that’s livable as is.

Los Altos is located in the northern end of the county, just 10 minutes from Palo Alto and Stanford University. It is close to the San Francisco Bay and catches more of the “bay breeze”, so can be a little cooler in summer than Los Gatos, a town with which it is often compared.

With a quaint and charming downtown, Los Altos features many first-class restaurants, bakeries, art galleries and boutiques. Possessing a country atmosphere, many of the streets in this city are lined with tall trees and are without sidewalks. It is a peaceful, yet upscale feeling. The town slopes gently toward San Francisco Bay and sports many homes on large lots of 1/4 acre or more. School rankings in Los Altos are very high and crime ratings are among the lowest in the state. High school seniors have many higher educational opportunities nearby including Foothill Junior College and Stanford University. Read more ›

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Campbell CA real estate market trends

Campbell water tower and bannerAn active community with a charming downtown, easy access to freeways and VTA lightrail systems, and back dropped by the lovely Santa Cruz mountains, it’s no wonder why Campbell is so popular.

For years I’ve been writing about the Campbell real estate market updates on my Valley of Hearts Delight blog. Please hop over there to get the latest (and a bit more details), or make use of the links and info below to get a pulse on the housing situation there.

Altos Profiles (updated weekly)

Campbell Real Estate Market for Single Family Homes

Campbell Real Estate Market for Condominiums and Townhouses

Campbell CA real estate market for Single Family Homes & Condos

Find the CURRENT and full RE Report for the Campbell single family housing market here.

See more in the full RE Report for Campbell condos through the link.

If you’d like to get the weekly report from Altos Research, please sign up HERE.

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Saratoga, CA

Saratoga California View from West Valley CollegeOnce a logging town known as Bank Mills, the Saratoga, CA, is now considered an upscale suburb of Silicon Valley and San Jose with a very high quality of life.

Where is the city of Saratoga? You’ll find it just north of Los Gatos and Monte Sereno along Highway 9, and like them, it sits at the foothills of the Santa Cruz Mountains and provides a path to the coast, also via Highway 9 (Big Basin Way).

Downtown Saratoga, CA, known as “Saratoga Village” or simply “the Village” is an active strip along Big Basin Way with shops, boutiques, restaurants, spas, and wine tasting bars. Just off this main drag you’ll also find the lovely Wildwood Park.   It is less busy at night than Los Gatos, so those who prefer things a little quieter will love it here.

There are plenty of events and entertainment to keep you busy with venues such as Villa Montalvo, the Mountain Winery, the Hakone historic estate and gardens, West Valley College, vineyards and horseback riding all within town limits.

  • Downtown Saratoga Village along Big Basin Way
    Downtown Saratoga Village along Big Basin Way

What are the Saratoga, CA neighborhoods like?

Saratoga, CA, neighborhoods by map

Saratoga, CA neighborhoods by map – please click to see details on Google Maps

Neighborhoods often boast meandering roads, no streetlights, and views of the hills giving Saratoga its signature rustic feel. There are some older, historic areas known as Heritage Lane (Austin Way still has a brick road!) with interesting architecture.  Like the rest of Santa Clara County, most of this lovely city has more contemporary and ranch style houses.

In most cases, the smallest lots are around 10,000 square feet, and the most modest homes as small as 1000 or 1200 square feet, generally, with values beginning at around $1 million for a smaller house that needs a whole lot of work (consider the Paseo and Quito Village areas or nearby for “entry level” houses, or any of the many condominium or townhouse communities for more affordable options). The most expensive homes are truly luxury estates, worth many millions of dollars and usually sitting on multiple acres, frequently with views and in hilly locations west of Highway 9.

Some of the neighborhoods are described on another page on this site:
Saratoga Real Estate And Saratoga Homes For Sale

Some of the neighborhood or area names you’ll want to know include these

  • The Golden Triangle
  • The Platinum Triangle / Montalvo / Glen Una area
  • Prides Crossing
  • Parker Ranch
  • Les Chateaux de Notre Dame
  • Austin Corners
  • Montewood
  • Fruitvale Area
  • Carnelian Glen
  • Toll Gate / Saratoga Heights
  • Pierce Road / Mount Eden
  • Civic Center
  • Shadow Oaks
  • Aspesi / Marshall Lane
  • Canon /West of Highway 9
  • Brookview
  • Blue Hills
  • Shadow Oaks
  • Saratoga Village
  • Portos / Harleigh
  • Paseo / Quito Village
  • Ravenswood
  • Madronia Historic area
  • West of Saratoga-Sunnyvale / Reid

Generally speaking, homes west of Highway 9 or west of Saratoga-Sunnyvale will be more expensive than those in the Golden Triangle – but not always.

Beyond home buying, Saratoga is a good place to retire, too: the Saratoga Retirement Community is a large campus with independent living, assisted living, and nursing care available in an extremely scenic setting.

For some, this pretty city also includes the last real estate they will ever need – the beautiful and historic Madronia Cemetery.

Saratoga is well known for its low crime rate and top notch schools. If this is what interests you, make sure you know where the school district boundaries lie! Read more ›

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