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.)
Santa Clara County Real Estate Market Report 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, Monte Sereno, Milpitas, Morgan Hill,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.
San Mateo County Real Estate Market for January 2019
Next, San Mateo County – home to Menlo Park, Redwood Shores, San Mateo, Half Moon Bay, and other Peninsula Communities. This area is generally more expensive than Santa Clara County, with variation, of course – a general rule of thumb might be 20-25% more costly. This area shows about a 6% price increase since last month but a 1-2% decrease from last year.
The condo and townhome report for San Mateo County:
Since last month, prices have dipped around 4%, and dipped less than 1% since last year.
Santa Cruz County Real Estate Market Report for January 2019
And lastly, coastal Santa Cruz County. While Santa Clara County and San Mateo County are part of the San Francisco Bay Area, and considered to be “Northern California”, Santa Cruz County is part of the Monterey Bay and is “Central California” or “Central Coast”. This region is less expensive that Santa Clara County, so is an attractive destination for retirees who don’t really want to move too far from home, but benefit from less expensive housing. Santa Cruz County includes the highly regarded University of California at Santa Cruz, exquisite beaches, and plenty of wineries – among more reasons to visit, if not make it your home!
Single Family Home (houses, duet homes – not duplexes) in Santa Cruz County:
Santa Cruz shows a 9% price increase since last month, but a 2% drop since last year. This is a smaller market, so larger swings in data can be expected.
The condominium and townhouse report for Santa Cruz County:
Again, this is a very small data set so it may show more dramatic change than the market actually has. That said, this month has a 10% price increase since last month, and a 20% increase since last year. Likely this reflects more which sectors of the market are selling rather than the real values of properties across the county changing.
Looking to buy or sell a home in any of these areas? Please reach out to me for an appointment to chat by phone. If it seems like a good fit, we can arrange to meet in person and strategize your home buying or selling – no cost, no obligation, no pressure.