Today on the Valley of Heart’s Delight Blog, I looked at the real estate markets for Los Gatos, Saratoga, Cupertino, and Los Altos.
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.
Silicon Valley neighborhoods
Los Gatos neighborhood videos
How to find the median rental price by zip code
Many relocating families search specifically for neighborhoods with the very best, or at least very good public schools. There are many sites which will give you this information in immense detail, but if you want a “quick answer” on excellent schools in Silicon Valley and San Jose, I can give that to you quickly here.
The finest public schools and districts (with excellent scores at all levels of schooling) tend to be found in the most expensive parts of Santa Clara County, and most of them are along the “west valley” areas, including Almaden Valley (an area of San Jose), Los Gatos, Monte Sereno, Saratoga, Cupertino, Los Altos, Los Altos Hills, and Palo Alto. Most of these communities are found along the base of the coastal foothills, aka the Santa Cruz Mountains, are are located not too far from Highway 85. The Silver Creek area (of the Evergreen District of San Jose) on the east side also has some fine schools. There are pockets with great elementary schools scattered throughout the valley too.
What do these homes cost? In the best areas, it is not uncommon to spend a million dollars or more for a “turnkey” home of 1800 square feet with no issues (no high voltage lines, no busy road, etc.). In some areas, like Saratoga, that might be closer to $2 million.
In many parts of Santa Clara County the elementary schools are excellent, middle schools are “very good” and the high schools are good. This is true for parts of west San Jose (bordering Cupertino and Saratoga) and Cambrian Park. These areas tend to be much more affordable than those with excellent schools in all levels. For home buyers not so worried about high schools as cost, these can be a great option for getting more home (and school) for your money.
While many home buyers are reluctant to consider private schools, sometimes it is much less expensive in the long run to purchase a comfortable home in an area you like but which doesn’t have fantastic schools and then send your kids to private or parochial schools. In Los Gatos, where the schools run from very good to exceptional, about one-third of students are not in public schools.
If you are planning a relocation to Silicon Valley and want to know more about local schools (public or private) please email me and I’ll be happy to chat with you about them more in person. I can also help you to find areas which are more affordable and offer strong schools.
Aerial vew over San Jose looking east – photo by Mary Pope-Handy
What’s going on with the Silicon Valley real estate market? Is it as crazy as ever with multiple offers, overbids, and few or no contingencies? Today we’ll consider the regional view, aka The Big Picture, to provide a sense of what is going on. For info on smaller areas or districts, please head over to my main blog, the Valley Of Heart’s Delight Blog – SanJoseRealEstateLosGatosHomes.com. There cities, towns, and districts are looked at in depth.
Seasonal Patterns in Silicon Valley
The quietest time (number of sales, traffic, etc.) and lowest prices in the real estate market tend to fall in January, or sometimes in December. As with most years, this time around January had the lowest prices.
Most years, we see strong buyer activity with multiple offers early in the year – often emerging as a pattern by the middle of February.
Right now, some home sellers have not accepted that home prices have dropped 20% or so since the peak last spring (more or less depending on location, pricing tier, school districts, property condition, and so on). Those properties are not moving quickly.
For sellers who understand the current market conditions and have priced appropriately, home buyers are flocking and multiple offers are back – in force.
In short, there’s a kind of duality right now, so it’s a weird time. Homes that were sitting on the market but get a price reduction may linger awhile, and then sell with multiple offers. This catches buyers and their Realtors off guard.
To provide regional Silicon Valley market conditions, today I’ll post info on the three counties (San Mateo, Santa Clara, and Santa Cruz).
In terms of expense, San Mateo is the most costly of these 3, and overall it becomes less expensive in Santa Clara County, then less expensive still in Santa Cruz County. Alameda County has a little of Silicon Valley, but that area is in a different MLS system so is not part of this analysis.
Next, a look at sale prices an market conditions for single family homes and condominiums / townhomes by county.
What does it cost to buy a house or condo in Silicon Valley?
In Santa Clara County (home to Palo Alto, Cupertino, Sunnyvale, Mountain View, San Jose, and my own Los Gatos), the average sale price is $1,413,000 and the median sale price $1,185,000 – quite a bit lower than last spring.
Santa Clara County
Please click to enlarge:
For condominiums and townhouses, of course, it is a more affordable.
In San Mateo County (home to Redwood Shores, Foster City, Menlo Park, San Mateo), the average sale price is about $1.78 million for houses recently sold. The median is a little lower at $1.425 million. (more…)
It’s a hot seller’s market in Silicon Valley, but it’s also a time of great job growth here! Each week I get calls or emails from people considering job offers in Cupertino, Palo Alto, Mountain View, Sunnyvale, Menlo Park, San Jose and nearby. Many of these recruits are interested in areas with superior public schools.
What’s the cost of buying a house of about 2,000 square feet with 3-5 bedrooms and great schools? A few communities with better education are these: Los Gatos, Saratoga, Cupertino, Palo Alto. We’ll consider these to provide a sense of prices in similar areas.
Here’s a quick look at what single family homes have been selling for over the last three months:
- Los Gatos: mostly $1,200,000 to $2,200,000 depending on the school district, averaging about $1,700,000
- Saratoga: mostly $1,400,000 to $2,300,000 depending on the school district, averaging about $1,900,000
- Cupertino: mostly $1,700,000 to $2,100,000 depending on the school district, averaging about $1,950,000
- Palo Alto: mostly $2,000,000 to $3,300,000 depending on the school district, averaging about $2,650,000
If you are new to Santa Clara County, you may be wondering if this is correct. It is…
Please continue reading here:
How do prices compare between Los Gatos, Saratoga, Cupertino and Palo Alto?
Yesterday on my Live in Los Gatos blog, I compared a number of “west valley” areas in Santa Clara County, or southern Silicon Valley, to provide a sense of how much home you can get for your money in Los Gatos, Saratoga, Cupertino, Campbell, and areas of San Jose such as Cambrian, Almaden and West San Jose. I used my Altos Research weekly newsletters, which provide a snapshot view of four real estate pricing tiers for various cities or areas. In these, you see the median list price per quartile with the type of square footage, lots size, beds and baths found for each one.
Let’s look at Cupertino first, since I get a lot of folks wanting to relocate to Silicon Valley for Apple employment, and many of the new recruits have heard about the wonderful public schools in that city – a major draw. A few years ago, it was very possible to purchase a small house in Cupertino for under a million dollars. But have a look at the chart below and check out the days on market as well as the other data….
In many areas, the most affordable homes are the ones that get gobbled up fastest. Why is it that in Cupertino, the lowest priced listings are on the market the longest? It’s not their size – I can tell you this from two decades of experience selling homes in the Bay Area. It is very likely that these properties are not too livable as a group. They probably need serious remodeling or rebuilding (and perhaps expansion as well). Most buyers do not have the cash to totally “rehab” a house, especially if they are starting at over $1,000,000. If you want to live in Cupertino and not throw a ton of money into the existing house, or tear down and rebuild, you’re most likely to need a budget closer to $1.3 or $1.4 million as a starting point. Want to be able to walk to Infinity Loop? Make that $1.5 or more – and you will still need to do some remodeling unless it’s very small!
What about other nearby Silicon Valley communities and neighborhoods? Please have a look at the full article with charts for a number of areas (plus one for all of San Jose).
What does a million dollars buy you in Los Gatos 95030, Los Gatos 95032, and nearby areas: Saratoga, Almaden, Cambrian, Campbell, Cupertino?