Housing Market Update for February 2019

Market Trends

This year already feels like it is flying by! These updates are as much for me as they are for you; I like being able to look back and see what the market is doing because it is easy to forget how the market shows or feels at a given time. Being able to look back allows us to plan for the future. We have another month in the bag, and what has the market done in the last month?

In Santa Clara County for Single Family Homes, the median sales price for February was $1,170,000. That is $10k higher than January, but down 15% ($211k) from February last year. If you include townhouses and condos, the median sales price was $1,059,000. Up $34k from January, but down 13% ($160k) from February last year. The market generally begins to pick up in February and we see that, slightly, for the county overall. But that isn't true of every area. Here is the breakdown, taking February median sales price for Single Family Homes compared to January this year and February last year:

Area1 Morgan Hill/Gilroy/San Martin: Down 8% from January, Down 7% from same time last year.

Area2 Santa Teresa area, San Jose: Up 8% from January, Down 5% from same time last year.

Area3 Evergreen area, San Jose: Up 26% from January, NO CHANGE from same time last year.

Area4 Alum Rock area, San Jose. NO CHANGE from January, Down 6% from same time last year.

Area5 Berryessa area, San Jose. Up 5% from January, Down 7% from same time last year.

Area6 Milpitas. Up 13% from January, Down 5% from same time last year.

Area8 Santa Clara. Up 16% from January, Down 15% from same time last year.

Area9 Central San Jose. Down 9% from January, Down 5% from same time last year.

Area10 Willow Glen. Down 9% from January, Down 18% from same time last year.

Area 11 South San Jose area. Up 9% from January, Up 1% from same time last year.

Area 12 Blossom Valley area, San Jose. Up 3% from January, Down 5% from same time last year.

Area 13 Almaden area, San Jose. Up 26% from January, Up 1% from same time last year.

Area 14 Cambrian area, San Jose. Down 6% from January, Down 19% from same time last year.

Area 15 Campbell. Up 6% from January, Down 9% from same time last year.

Area 16 Los Gatos. NO CHANGE from January. Up 18% from same time last year.

Area 17 Saratoga. Up 26% from January. Down 9% from same time last year.

Area 18 Cupertino. Up 2% from January. Down 9% from same time last year.

Area 19 Sunnyvale. Down 1% from January. Down 16% from same time last year.

Area 200-210 Mountain View. Up 27% from January. Up 18% from same time last year.

Area 214 Los Altos. Up 18% from January. Down 7% from same time last year.

Area 230-242. Palo Alto. Up 7% from January. Down 5% from same time last year.