Market Reports for Three Silicon Valley Counties

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.)

Early Summer 2021: Three Silicon Valley Counties

Santa Clara County Real Estate Market Report for June 2021

First, Santa Clara County – home to San Jose, Cupertino, Sunnyvale, Mountain View, Palo Alto, Los Altos, Santa Clara, Campbell, Los Gatos, Saratoga, Monte Sereno, Milpitas, Morgan Hill, and a number of other cities and towns. This area has generally come up in price about 10% since last year, though in March the median sale price is over 14% higher, and in June that jumped to 27% higher in 2021 than in 2020! Homes sold more than a month faster this June compared to last year. Of course, it hasn’t been even growth.

While the 2019-2020 winter was particularly hot, it experienced a massive swing at the start of the California pandemic falling to it’s lowest point in Santa Clara County around May and June. This put pressure on the market by stifling spring activity and, over the course of the year, created a backlog of demand with severely low available inventory. Pent up activity is driving up prices and the sales to list price ratio, among other things. Santa Clara County is keeping up the momentum from a raging hot spring market into early summer.

Santa Clara County SFH Market Report - June 2021

And the condominium and townhouse report for Santa Clara County:

This June shows about a 14%-15% rise in median sales price for condos and townhomes since last year, a clear rise in sales to list price ratio, and increased, but still low, active inventory compared to last month.

June 2021 – Condo _ Townhouse Market Report - Santa Clara

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Beach Traffic

One of the many lures to the San Jose area and Santa Clara County generally is the fairly close proximity of the beach at Santa Cruz, Capitola, Rio del Mar, and other scenic places that line the Monterey Bay. From most of Santa Clara County, it’s under a one hour drive. If you live in Los Gatos, it could be just half of that.  That said, not all days are created equally when it comes to beach traffic. Go on a regular weekday in summer and it’s pretty much a piece of cake. Go on a weekend or holiday and it’s a whole other matter.

Photo of Capitola Beach as seen from the Capitola Pier on a sunny summer day with colorful beachfront condos lining the shore

Capitola Beach as seen from the Pier – photo by Mary Pope-Handy

Most of the locals know this about holidays or weekends and the shore: go early or don’t go.

How early is early enough?

If you want to get over the hill before it’s stop and go traffic, I suggest 9:30am or earlier.  It can be backed up as early as 9:30 or 10. Coming home from the coast, the line of cars may move sluggishly as early as 3 or 4pm if the fog rolls in early.

If you go early, you can enjoy breakfast with a bay view in Capitola on the esplanade. Or hit wonderful Gayle’s Bakery in that same town with some piping hot coffee before taking in a walk at the coast.  Sometimes there may be a marine layer (fog), but it usually burns off by late morning.  The beach will be fairly quiet if you arrive before the crowds.  Or go a little later and have an early lunch at the Crow’s Nest at the harbor.  Play in the surf  and sand and return around 3:30 or so, and it will be a lot easier than a 5pm trek across the Santa Cruz Mountains.

Related reading on MPH’s other sites:

Spending Summer Days In Santa Cruz? Some Tips & Favorite Places to Share (Valley of Heart’s Delight blog)

Beach towns in Santa Cruz County (from popehandy.com)