Below please find real estate market reports for three Silicon Valley counties where I’m most active: Santa Clara County, San Mateo County, and Santa Cruz County. First we’ll provide the data for single family homes, then condos and townhomes, for each region. (“Silicon Valley” is 95% within Santa Clara and San Mateo Counties, plus a little of Santa Cruz County and a small part of Alameda County. Alameda County uses a different MLS system, and I don’t usually sell there, so am not covering it in my reports.)
Santa Clara County Real Estate Market for October 2019
First, Santa Clara County – home to San Jose, Cupertino, Sunnyvale, Mountain View, Palo Alto, Los Altos, Santa Clara, Campbell, Los Gatos, Saratoga, and a number of other cities and towns. This area has generally come up in price about 1% since last month, but is down 6% from last yaer. Of course, it wasn’t an even slide. Spring and summer saw a rise in sales price, peaking at approximately a 17% increase before slipping back down to our current early autumn cooling.
And the condominium and townhouse report for Santa Clara County:
This year shows about a 4% drop in price for condos and townhomes since last month, but about a 15% drop from last year.
It can be challenging for people moving to Silicon Valley to get a sense of pricing for home buying. So to compare “apples to apples,” let’s take a hypothetical case of a 4 bedroom, 2 bath home of approximately 2,000 SF house (appx 185 square meters) and see how the cost looks in one area versus another.
Today I compared several cities and areas using the formula: single family homes of 1800 – 2200 SF, 3-5 bedrooms, 2-3 bathrooms, on lot sizes of 5000 SF to 10,000 SF that have sold within the last 30 days (short window of time due to price changes in the last 6 months or so – first dropping in the 2nd half of 2018, and now nosing up again).
DOM means “Days on Market”, the number of days a home was listed as available before pending.
Please note that this is a rough estimate of home prices. In many areas, cities, or towns, there can be multiple school districts. In those cases, the home price will be impacted by which school district the property is located within. (If you are interested in prices for similar homes a year or two ago, please also scroll down to find similar charts and data.)
I have arranged this chart in descending order by Sales Price. This is usually how I organize the data, and you can see certain markets shifting position, moving up or down the order depending on what’s hot. To compare, below is a report from April 3rd, 2019 using the same formula.
In the past, I’ve done similar studies, but using a larger window of time to even out any aberrations.
In most cases, the most expensive and desirable places have either the best schools or shortest commute location or both. Had I ranked these for school scores, you’d find that Cambrian is fairly high up and a good “bang for the buck” location – though not a super short commute for folks who work in Mountain View (though not so bad for people working in Cupertino). None of these is especially close to North San Jose (Cisco).
Palo Alto is a gorgeous, exciting area with all kinds of wonderful features – beautiful neighborhoods, lower crime, great schools, short commute. It is usually the most expensive area on this list. But if you didn’t found a successful startup company or inherit a couple of million bucks, it can be hard to buy a single family home there. Many people would like to live in the shadow of Stanford University, but the budget just won’t allow it. What, then?
Please use the list above as a way to get your bearings on nearby areas in the South Bay (southern part of the San Francisco Bay Area). This is not an exhaustive list – it’s just most of the areas closest to Highway 85 or the West Valley Freeway. You can study various cities, downs, and districts within the region at my stats site, popehandy.rereport.com. (Free and you do not have to register unless you want email updates.)
Finally, it should be noted that one of the main drivers of home values is school districts. In the San Jose / Silicon Valley area, the school district boundaries do NOT follow the city or town boundaries. Los Gatos, for example, has 3 different elementary school districts, with varying scores which impact home values. So too with Saratoga and many other areas, San Jose especially! All this to say that the figures above are only ROUGH GUIDES. When you break it down to micro-markets, the picture changes more. But as a starter guide, I think you’ll find the above info helpful to give you a general idea of how far your money can go in home buying for areas in Santa Clara County from Palo Alto to Blossom Valley.
Want to do a deep dive on any of these areas? Please visit my Valley of Heart’s Delight Blog to learn about them.
Historical comparisons of home prices in the same / similar areas
Here’s similar info from about 22 months ago (one change is that the lot sizes used before was a range of 6,000 to 10,000 SF, and in 2019 I went down to 5,000). I also thought it would be useful to share the number of sales represented, since obviously a small number may not be truly representative of home values in today’s market.
January 25, 2018: Continue reading
All four of these areas are known for good public schools, proximity to the coastal range, and a nice way of life. All but Cupertino have a quaint downtown area, and those three communities each have about 31,000 residents, while Cupertino is more than double that. For folks relocating to the San Jose area for work, most likely, all four will be considered if schools are a priority.
To see how these 4 highly regarded communities compare in terms of market conditions and what you can buy for your money, please visit:
Market comparison: Los Gatos, Saratoga, Cupertino and Los Altos on the Valley of Heart’s Delight Blog.
When people relocating to Silicon Valley get “sticker shock” on our real estate prices, most of the time they look for more affordable places in which to live that are close by. Often finding neighborhoods with good schools comes into play. Or perhaps they simply love the scenic town of Los Gatos but can’t buy in town (95030 and 95032 zip codes are “in town” and 95033 is the unincorporated county areas with a Los Gatos mailing address). The mountains between San Jose and Santa Cruz – the coastal range – is home to a number of communities such as Chemeketa Park, Holy City, Aldercroft Heights, the Lexington Reservoir area (the town of Lexington is under the reservoir now!), Alma, Redwood Estates (Upper Redwood Estates, Lower Redwood Estates) and more.
The Los Gatos Mountains are a specialty area and I don’t usually work them. I frequently will refer them out or team up with someone else who knows a lot more than I do about the unique things you need to worry about if buying up there.
There are many plusses to living in the Los Gatos Mountains: clean air, more open space (less crowding), beautiful vistas, great schools (top rated public schools), lower housing costs. It’s a fabulous place if you have horses or just love more seclusion. The folks who live in the hills absolutely love their communities and homes.
At the same time, there are special consideration if you live in the Santa Cruz Mountains. Here’s a list of potential issues that mountain residents may face:
Many residential roads are private & there are private road agreements in place (so owners must agree on paving, clearing brush or trees too close to the road, pay if the road washes out in a mudslide to clear it or if soil beneath it gives way, etc.)
- Utilities: in the valley, we have Pacific Gas & Electric (PG & E) and public water (most of us have San Jose Water). In the mountains most or many of them have propane gas (not P G & E), they do have electric from PG & E though, and well water. Our recent drought – which ended officially this week – was not severe but with a worse drought the wells can run dry and then mountain residents have to truck water in, which is very expensive. You also must periodically check well water for arsenic and other elements and purity. (Also there’s septic instead of sewer. Not a big deal but it’s one more thing to maintain.)
- Fire concerns – the wildland areas are at risk of fire in summer, so the fire marshall’s regulations are to keep brush cleared a certain distance from your house to help lessen the risk. (Google “fire santa cruz mountains” and you will get a lot of news returns on fire danger and past fires).
- Winter weather issues – the higher elevations can get snow a couple of times a year – doesn’t last long but can make roads impassable (not as low as Chemeketa Park but near the summit and perhaps upper Redwood Estates). Trees sometimes fall and block roads and driveways during heavy rainfall. Our redwood trees have VERY shallow roots and I think this is why they come down in strong winds and rain, but I’m not sure. The lovely trees are green year round, including winter. They can keep the sun away if you’re in a heavily forrested area, though. I had friends who lived near the summit and they said that in winter, sunshine never touched their property. Finally, with all the trees and more severe winter weather in the Mtns, residents there lose electricity more often than we do in the valley (due to trees falling I am sure).
- Beach traffic – the mountain communities are all pretty dependent on Hwy 17 (there are few alternatives) and there’s a wave of traffic tie ups as coast visitors come and go with the warm weather.
- San Andreas Earthquake Fault – runs pretty much down the spine of the coastal range (on or close to Summit Road). The summit is the “sunniest” area in the mountains, so if I lived there I’d want to be where there’s more sunlight – but that would mean straddling one of the most powerful and most scary earthquake faults on the globe. I won’t do it!
- Travel time – hwy 17 can be pretty smooth but once off the road, it can be 10 to 20 or more minutes until you get to the house, so the total travel time to whereever you’re going can be long. That’s especially true if there’s an accident on 17, which is not so uncommon with all the curves in the road. There is a large grocery store on Summit Road so it is not necessary to drive to the valley for the basics.
- Resale issues – even in a “hot” market, it takes far longer to sell a mountain home than one on the valley floor. Agents in my office say that on a typical open house up there they get one or two people per hour. It is not uncommon for a mountain house to take a year to sell. I just checked the average Days on Market and it’s 63. In todays hot sellers market, that’s significantly longer than in the valley but far less than when I last updated this post in March 2011 when the Days on Market were 212.
- Bugs – in addition to drywood termites and subterranean termites, up in the SC Mountains they also have dampwood termites.
If you’re interested in learning more about the mountains, please email me! I can get you more info and partner with a “mountain agent” to get you the best deal on a property in the coastal range near the San Jose area.
Finally, if you are not sure which area is in Los Gatos vs having a Los Gatos mailing address (which can also happen in pockets on the valley floor), the best resource is the map of the town’s boundaries, which you can find here: http://www.losgatosca.gov/DocumentCenter/View/338
What’s available in the mountains today?
Here’s what’s listed in the Los Gatos Mountain area today.
How’s the market in 95033 this week?
Listed at $2,000,000 and sold with 4 offers for $2,300,000. Closed on August 14, 2018
Original post on this listing is below:
If you’ve been hunting for a move-in ready Cupertino home for sale with Monta Vista High School, this is your lucky week! Set in the beautiful Three Oaks neighborhood, close to Rainbow Drive and S Stelling Road, this sunny house was expanded in 2011 and more updates were done in 2018, including fully remodeling both bathrooms. The addition brought 600 SF of kitchen, family, and office space to the home – and they are exquisite!
The home at 1190 Crestline Drive, Cupertino CA 95014 features 3 bedrooms plus an office (which could be converted to a bedroom), 2 remodeled baths, a spacious living room, dining room, alcove off the dining room (originally the location of the “old” kitchen), a spacious kitchen – family room combination with a large, vaulted ceiling. There are recessed lights in the living, dining, kitchen, and family rooms. The kitchen-family room area offers 2 skylights with retractable shades. Both bathrooms and also the dining room provide sun tunnels. There’s loads of natural light!
Flexible floor plan and more options for another bed, bath, or?
The space which was the original kitchen is now an alcove, but it is possible to create another bedroom there – or use it as a study, music room, hobby room, or play area. It’s got a sewer line there, since it was previously a kitchen, so it may be possible to add a bathroom, too.
- 3 bedrooms + office and alcove
- Office has closet adjacent – could possibly convert office to bedroom
- 2 newly remodeled baths in 2018
- 1715 SF (per county)
- Lot size 6007 SF (per county)
- Built in 1963, expanded in 2011
- No carpeting – mostly hardwood floors, some laminate, some Italian porcelain tile
- Flexible layout—sewer plumbed to possibly add 3rd bathroom and another in original kitchen area
- Schools: Regnart Elementary, Kennedy Middle & Monta Vista High
MLS # ML81714661
OPEN HOUSE SCHEDULE:
Thurs., 7-19-2018 9:30am to 12:30pm (broker tour AND public open house)
Sat., 7-21-2018 2pm to 4pm
Sun., 7-22-2018 2pm to 4pm
You can learn more about this Cupertino home for sale and see all the photos on either of these two sites:
As you may know, I have a number of blogs relating to Silicon Valley real estate (I will list them below). My family and I live in Los Gatos, and my office is in Los Gatos too, so my focus is that town and the nearby areas, such as Saratoga, Cupertino, Campbell, Monte Sereno, and parts of San Jose such as Cambrian and Almaden and Willow Glen. One area I’m working on for the blogs, as well as for my Facebook business page, Google + and Twitter are video “drive throughs” of neighborhoods. I’m starting in Los Gatos but eventually hope to get to all of the areas listed above.
Right now, I’ve got 5 Los Gatos neighborhood videos on my YouTube channel, plus slideshows of a few more areas and parks. Additionally there are some slideshows up of Saratoga and parts of San Jose. Interested in an up close view of these parts of Silicon Valley? Please visit my channel: http://www.youtube.com/PopeHandy Or start with the Los Gatos playlist, below. The first one is a slideshow of Los Gatos as a general intro, and after that there is a mixture of slideshows and drive throughs. Enjoy!
Other blogs about Silicon Valley real estate, homes and neigbhorhoods:
Valley of Hearts Delight – aka San Jose Real Estate Los Gatos Homes
Belwood of Los Gatos blog
Here are a few of the homes for sale in Los Gatos and Monte Sereno right now![idx-listings linkid=”445042″ count=”15″ showlargerphotos=”true”]
Edit: I originally wrote this post on August 12, 2013, but it is still accurate today, January 25, 2018, and probably will be for years to come.
- Palo Alto (very costly)
- Cupertino (less expensive for the school scores compared to other areas up to #5 on this list)
- Saratoga (very expensive)
- Los Altos & Los Altos Hills
- Los Gatos & Monte Sereno (95030 & 95032)
- Parts of San Jose in Cambrian 95124 and Almaden 95120 (very good value)
- The Los Gatos Mountains (zip code 95033)
- Parts of Fremont (Mission San Jose area)
How hard could relocating from San Francisco to Silicon Valley be? It’s the same time zone, the same “San Francisco Bay Area” region, and depending on which part of Silicon Valley you target, the drive time could be all of 20 minutes – or perhaps well over an hour.
Relocating from San Francisco to Silicon Valley can be a little bit of a culture shock, which is surprising given the close proximity of the two areas. What’s so different?
(1) Most noticeably, the scenery is different.
You won’t be seeing the Golden Gate Bridge, facing frighteningly steep hills, or catching a view of the Pacific Ocean from the Cliff House when you’re in Silicon Valley. Nob Hill, the Wharf, Ghirardelli Square, Union Square, Market Street, Mission Dolores, the SOMA district and so many other colorful parts of the city will be places you visit on weekends rather than drop in on some evening for supper. The scenic beauty of San Francisco may be the thing you will miss the most if you move out of that fabled city.
Beauty isn’t absent from Silicon Valley, though! There are views of the San Francisco Bay in many places (Foster City and Redwood Shores especially). Scenic vistas of the beautiful Santa Cruz Mountains can be enjoyed from many locations in the South Bay, especially Los Altos, Cupertino, Saratoga, Los Gatos, and the Almaden Valley in San Jose. Part of Silicon Valley reaches into North San Jose, Milpitas, and Fremont, where views of the eastern foothills can be quite lovely, too. Some of these communities have a high elevation and can see the bay as well as the valley.If you are relocating from San Francisco to Silicon Valley, you’ll want to be outdoors more and enjoy the many open spaces available to you. Parks and hiking areas abound on the Peninsula and in Santa Clara County. For example, you’ve probably driven past Crystal Springs Reservoir many times- but did you know that you can hike there? Santa Clara County has a network of trails following various creeks. The Los Gatos Creek Trail (with some adjacent percolation ponds) runs from Lexington Reservoir down into the valley, stopping at Meridian Avenue. There are also trails around parts of the bay – and eventually trails should ring the whole SF Bay Area, but that may take quite awhile.
At Vasona Lake County Park in Los Gatos you can rent a paddle boat and roam the lake in style! Or how about sauntering on horseback in the low foothills of Saratoga at Garrod’s? A day at Filoli in Woodside is always good for the soul – lovely places to walk around both outdoors and in. (Really spectacular during the holidays, too.)
Got wine? You’ll get great views if you take in some wine tasting in Saratoga (several spots, also at Cooper-Garrod’s if you want to sip wine after riding horses) or Cupertino at Ridge Vineyards, too. There are dozens of wineries in Silicon Valley, including J Lohr near the San Jose airport.
Lovely sights are bountiful in The Valley. Continue reading
This website, Move2SiliconValley.com, provides an overview for people thinking of or planning to move to Silicon Valley. If you want to dig deeper and learn about individual Silicon Valley neighborhoods, I want to suggest that you visit some of my other websites and blogs for Silicon Valley real estate resources. Please have a look:
popehandy.com is my flagship site for Silicon Valley real estate – it includes area or neighborhood profiles for all the Silicon Valley communities (in all 4 counties) as well as information for Silicon Valley home sellers and more. Visit popehandy.com and click on “Communities” for a drop down menu listing the 4 counties and learn about the cities, towns, and areas that comprise the Silicon Valley area. (I run several sites and have many articles on them, and this is the one which covers the broadest territory.)
ValleyOfHeartsDelight.com is where I showcase my listings, and it’s the site for general real estate info in Santa Clara County and Santa Clara Valley, once known as the Valley Of Heart’s Delight. Most of Silicon Valley is in this area.
SanJoseRealEstateLosGatosHomes.com covers real estate in the town of Los Gatos and the nearby areas of San Jose, Campbell, Saratoga and more. I think it’s the best part of the Santa Clara Valley or Santa Clara County, but perhaps I’m biased. There are MANY posts with local market trends & statistics, updated monthly, for these areas plus Cupertino, Sunnyvale, Mountain View, Almaden Valley, Blossom Valley, Willow Glen, and so on – areas within Santa Clara County. (Google “real estate market” plus the city or area you’re interested in, and you likely will find an article on this site for your desired corner of the region.) Additionally, there are special research postings on the absorption rate in Los Gatos and Saratoga. Also you’ll find Silicon Valley neighborhoods described in depth, often at the subdivision level for areas such as Cambrian and Almaden. Check it out, it is a wealth of information!
For example, here’s an article on the Happy Valley neighborhood, also known as the Country Lane neighborhood:
Happy Valley neighborhood, Country Lane neighborhood – west San Jose
LiveInLosGatosBlog.com focuses on the town of Los Gatos, its neighborhoods, areas, districts, as well as events, parks, real estate for sale, the arts, schools, businesses, restaurants, and much more. A little more community and a little less real estate, but the BEST site for Los Gatos neighborhoods you’ll find anywhere. Los Gatos was once known as the “gem city” and is still a very beloved corner of Silicon Valley today, with historic neighborhoods and homes, gorgeous architecture, and a vibrant downtown. Before deciding where to live, be sure to investigate this scenic town snuggled at the base of the Santa Cruz Mountains – the gateway to the valley.
popehandy.ReReport.com is all about the statistics for Silicon Valley, including San Mateo County, Santa Clara County, and Santa Cruz County. Overall, it is very comprehensive. It features a way for you to track listings and sales near your own home, or one of interest, too.
Silicon Valley neighborhoods where I focus my real estate sales:
Obviously, 4 counties is a lot of ground to cover, and most Realtors don’t work that huge of an area in urban communities like ours. I have sold in all 4 counties, but the vast majority of my business is in Santa Clara County, where I live and where my office is located.
In general, I avoid taking on buyers in counties outside of Santa Clara County as it’s far with today’s traffic and with buyer clients it’s important to be super responsive and see new listings as soon as they are available. For that reason, I’d be happy to introduce you to a great buyer’s agent in those areas if that’s where you’d like to purchase a home. With listings it’s far fewer trips and I have more control of my time, so I’m happy to assist sellers in all of these counties.