Fall 2019 SFBA, Silicon Valley residential home prices

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Real Estate Agent with (408) 425-1601 CA bre 1519182

                                                                                      Sam Shueh 

                                                                                     Realty One Group

                                                                                     San Jose, CA   

Here is the latest scoop of residential real estates. With every empty lot clustered with high rises and new 3 story tree houses, there seems to have more rentals on the market than ever. The residential real estate for new and previously occupied home sales are very active. Ample jobs, stable economy, low interest rate there are ample qualified home buyers. However, unlike last two years the sales are more traditional today.                                                       

 

 1    2

 

       Figure 1 San Jose, CA  Historical home areal prices ($/sf)      Figure 2 San Jose Sold vs asked ratio (99% vs 100.7%)

marketing time(days)                                             Figure 3 Marketing time for San Jose (days)

Homes on the market is still brief. Valued homes are sought after. 18 days on the market is short. But it was just 9 days on the average two years ago. 

It appears 2018 year was a year with highest sales. In 2020 it will continue similar trend as it has been in the past.

Below is the regional home sales.

 

Housing Inventory Snapshot October 31, 2019
  Average List Price 30 Day Trend Average Sold Price 30 Day Trend Average DOM: active/sold 30 Day Trend Number of Active Listings 30 Day Trend
Alameda County, CA
Single Family $841,079 -3.13% $887,556 +0.96% 41 / 26 2 / 10 867 -146
Luxury Single Family $2,152,183 +0.65% $1,633,186 -4.42% 67 / 19 12 / -2 297 -32
Condo/Townhome $604,257 +0.15% $567,560 -5.16% 47 / 24 6 / -3 400 -40
Luxury Condo/Townhome $980,433 -0.76% $1,056,000 +5.43% 50 / 14 6 / -4 119 -21
 
San Mateo County, CA
Single Family $1,815,906 +1.32% $1,704,140 +14.97% 47 / 18 7 / -1 392 -70
Luxury Single Family $8,513,865 +2.69% $7,688,460 N/A 112 / 61 16 / N/A 140 -13
Condo/Townhome $851,874 +0.94% $838,406 +44.6% 42 / 20 10 / 0 134 -5
Luxury Condo/Townhome $1,799,630 -4.02% $1,840,033 +3.18% 60 / 5 -2 / 3 46 2
Santa Clara County, CA-SILICON VALLEY 59% of SFH listed are $1M or more making it least affordable in US
Single Family $1,290,924 -1.47% $1,340,423 +16.7% 54 / 21 5 / 7 930 -107
Luxury Single Family $4,987,954 +7.46% $3,301,470 -6.05% 90 / 11 9 / -39 295 -35
Condo/Townhome $703,068 -1.22% $614,461 -15.2% 58 / 56 8 / 25 437 -62
Luxury Condo/Townhome $1,405,799 +1.62% $1,268,616 -8.20% 66 / 15 16 / -7 133 -23
Santa Cruz County, CA
Single Family $918,575 -3.06% $869,600 +21.8% 71 / 18 4 / -12 317 -41
Luxury Single Family $3,099,965 +2.45% N/A N/A 125 / N/A 15 / N/A 103 -14
Condo/Townhome $630,614 +6.49% $781,560 +44.1% 67 / 5 3 / -27 64 4
Luxury Condo/Townhome $1,176,447 -2.29% N/A N/A 82 / N/A 1 / N/A 19 3

 I have call Silicon Valley my hometown since the 1970s.  I am proud to be a resident and able to contribute to the Silicon Valley growth. 

 

SamShuehRealtor at Gmail.com     (408) 425-1601 

SOURCE:  

Shueh, Sam  How much is my Silicon Valley home worth? (Silicon Valley Home Values)

Shueh, Prediction of 2018 Home Prices in San Francisco Bay Area 

Shueh, Sam    (Real EstateBlogs)

Shueh, Sam    (My Website)    

 

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Rainmaker
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Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
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A very complete/comprehensive report appreciated by those in your market !

Nov 09, 2019 04:23 PM #1
Rainmaker
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Sam Shueh
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Here is a summary of home sales. Lots of new condo/townhome with 2000 sf on a tiny lot on the market. People still prefer airy large standard sized lots.

Homes are sold very quick. Got to be quick to get what you want.

Nov 09, 2019 04:25 PM #2
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Rainmaker
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Sam Shueh

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