Silicon Valley Real Estate

San Jose’s upscale suburb, Almaden Valley, features gorgeous hillside views, great schools, low crime, and consistently nice neighborhoods.  Home prices range from a little higher than average to very expensive.  How is the real estate market faring in posh Almaden Valley?

Here’s a snapshot view of list prices over the last year in Almaden of both single family houses and condos or townhomes.

It is curious to note that condo prices seemed to have an uptick while single family homes had a downtick around March first of this year. Condo and townhouse prices in Almaden appear to be slipping overall since then, while home prices have risen generally, though slipped again a little since July 1st.

Next let’s have a look at asking prices for single family homes, or houses (as opposed to condominiums or townhomes).  Below, find the data broken down by quartiles.

It is interesting to see how differently the lowest quartile has done from the highest in Almaden, and also how large a gap there is in the price point between the top and second pricing groups there. Most of the activity in Almaden is somewhat close to $1,000,000 today. Most of these median asking prices are approximately where they were a year ago, and each one had a “peak” in pricing at different points in the last 12 months. While March/April is usually the best time to sell in terms of getting a high price, clearly that hasn’t been the case in all price points in Almaden.

How about with the condo market in Almaden Valley?  Let’s see:

Again, there’s quite a difference between one price point and the next. The most expensive, luxury condos in Almaden seem to have had their highest list prices last November, then a lesser peak in about April 2008. For the second quartile, the market appears to have peaked sooner - beginning in about February. And for the last two quartiles, the timing was closer to June!

Almaden Valley is full of micro markets. With this post, it is clear that the price point of condos and houses is one factor to consider. Views, proximity to shopping and golf courses, land, house size are all important too. Another key issue is schools. Much of Almaden has Leland High School, for instance, which is rated very highly. The part closest to downtown San Jose, though, has Pioneer. And one little sliver close to Hicks Road actually has Los Gatos Schools - which are highly acclaimed, but not close by and very inconvenient!

To get a pulse on the market where you live, or where you’d like to live, please give me a call or send me an email. I’d welcome the chance to speak with you about your plans, wants and needs in Almaden Valley.