The Silicon Valley real estate market is composed of many micro-markets. What's happening with Morgan Hill luxury homes is vastly different from condos in Cupertino or entry level homes in Willow Glen. Even within each region and pricepoint, there are smaller markets still, defined often by school districts, but other factors as well, such as views, qualities such as "charm", historic and architectural uniqueness, and much more.

Recently I had a closer look, on two of my other blogs, at the markets in Almaden Valley, Los Gatos, and Saratoga.

Perhaps most salient to me when studying the housing market in these three upscale communities in Silicon Valley was how differently the condo and townhome market is performing from the single family home market. (Within each, of course, there is variation by price point too.)  In all three of these neighborhoods, the condominium sales were having a much harder time, with more pressure on pricing, than the market in the same area for single family homes.

It appears that this may be a good buying opportunity for townhouse or condo buyers in the high-end west valley communities in Santa Clara County!  In the hot hot markets of Cupertino, Mountain View, Palo Alto, and Sunnyvale, this may be an ideal time for seniors to sell their house and downsize into a comfortable, easy maintenance condo. The numbers would seem to indicate that this is a good window for that kind of move.

If you'd like a closer look, here are the links to those posts:

From the Valley of Hearts Delight blog:

Are Real Estate Prices Holding Up in Almaden Valley?

How is the Real Estate Market in Saratoga, California?

From the Live in Los Gatos blog:

Los Gatos Real Estate Market Numbers - In for July 2008

Los Gatos Real Estate Market Update for August 4, 2008

And as always, for more information on your particular situation, please call or email me!