Tag Archives: Almaden Real Estate Market

Real Estate Update for Santa Clara County March 2011!


Good morning everyone and welcome to Raymond’s Real Estate Update for Santa Clara County that includes San Jose Real Estate of course!  You will read how the market is consistently improving regardless of some major websites I won’t mention.  You will also note that I try to stay with facts by only stating actual numbers.  Should you want detail for a certain zip code as I have done for a few neighborhoods below feel free to email me and if I have numbers for that particular area I will supply them. 

The amount of homes that went into pending status for February 2011 jumped 22.1%↑ over January 2011.  I know what you’re thinking…that’s normal right?  Yes, it’s normal for more buyers to come out and jump into the market as we get closer to the spring months, but what’s better than that Jan.11-Feb.11 had an increase of 7.3%↑ vs. same months prior year Jan.10-Feb.10!  Also, Feb. 11 vs. same month 1 year ago increased by 19.8%↑In other words we are off to a great start.

While many believe there are many homes on the market when driving down their neighborhoods the reality is inventory is still very low.  When you think about there are 1,764,000 people who live here and only 2,380 single family homes available for sale is not very much.  The big reason why prices are climbing as you will see below in the graphs for many areas within the Santa Clara County is for that very reason…no supply and big demand. 

The absorption rate based on pending sales jumped nearly 8%↑ from Jan. 11 to Feb. 11 now at 50.4%, which means 50.4% of the homes that listed in Feb. 11 went into contract.  What’s the big deal you may ask? Well, it topped Feb. 10 by 2.7%, and when you think about the nice summer month September 2010 had only a 29.5% absorption rate.  The market is increasingly getting better right before our eyes…it’s too bad there are many out there who still do not realize it. 

Take a look at some graphs below showing actual numbers for San Jose Real Estate, Santa Clara Real Estate, Campbell Real Estate, and Los Gatos Real Estate.

ALMADEN VALLEY median price 12%↑ Jan. 11-Feb. 11 CAMPBELL median price .5%↓ Jan. 11-Feb. 11 

City of SANTA CLARA median price 5.6%↑ Jan. 11-Feb.11

LOS GATOS median price 21.2%↑ Jan.11-Feb.11

BLOSSOM VALLEY median price .2%↑ Jan.11-Feb.11

Should you have any questions or if you know someone who can use my assistance in the Real Estate Market please do not hesitate to call me at 408-655-7900!  In the mean time don’t forget to visit www.raymondchavez.com to connect with me on LinkedIn or Facebook!

Real Estate Update for Santa Clara County Jan.2010-Jan.2011!


While everyone talks about what the newspapers are saying when it comes to Real Estate and generally it’s negative, the newspaper never mentions all the good things that are happening in Santa Clara County.  For example…

  • Feb. 2009 59%↓ of homes listed were distressed
  • Feb. 2010 50%↓ of homes listed were distressed
  • Feb. 2011 35%↓ of homes listed are distressed

So, do the numbers and you will see we are down 24%↓ from 2 years ago when it comes to distressed homes for sale! 

The other thing is that our inventory while it is slowly climbing as it should at the beginning of the year is still well below normal currently hovering at 2,402 single family homes in Santa Clara County.  The absorption rate for pending sales in January 2011 jumped 9% from Dec. 2010 now at 45.6% (meaning 45.6% of the listing went into contract for that month), versus same 2 months a year ago when it dropped 24.9% The median price increased 2% over same month a year ago,  and the amount of homes that went into contract in Jan. 2011 over Jan. 2010 sky rocked by 22%

So, you have to ask yourself, why doesn’t the media ever talk about this rather than mentioning the County depreciated by 15% as some news channels recently talked about, and failing to note that this happens almost every year in the real estate market.  Also, the media failed to tell everyone that Dec. 2010 was one of the top 5 best months for home sales last year.  Something to think about for those who think Santa Clara County shuts down in our mild winters.

ALMADEN VALLEY median price  Jan. 2010-Jan.2011

                               CAMPBELL  median price  Jan. 2010-Jan.2011

CITY OF SANTA CLARA median price  Jan. 2010-Jan.2011

                                    Los Gatos median price Jan.2010-Jan.2011

BLOSSOM VALLEY median price Jan.2010-Jan.2011

Should you have any questions or if you know someone who can use my assistance in the Real Estate Market please do not hesitate to call me at 408-655-7900!  In the mean time don’t forget to visit www.raymondchavez.com to connect with me on LinkedIn or Facebook!