February Silicon Valley Real Estate Market Update

Quick Market Overview: As is usual for this time of year, the number of available homes for sale have increased. While not a huge jump, we do see a trend change nonetheless. Notwithstanding this, however, the real estate markets in both Santa Clara and San Mateo counties remain in record territory in terms of prices and well off their average inventory levels over the past 15+ years. Record median prices were seen again in January in the Silicon Valley real estate market, breaking last year's records. Demand continues to outstrip supply in Santa Clara County as 60% (versus 58% last month) of homes that closed escrow sold for more than list price inferring multiple offers whereas in San Mateo County, it had an even higher percentage of homes that sold for more than list price of 62% versus 60% last month. Both of these are record highs for this time of year! The median price for a single family residence in Santa Clara County continued in record territory at $898,000, and increased 10.6% over January 2015 so the Silicon Valley real estate trends continue in a positive manner. For San Mateo County, its median price settled at $1,155,000, increasing at 9.5% on a year over year basis.

Below is a chart of the number of single family residence sales in Santa Clara County from January 2002 to January 2016. (Data source: mlslistings.com) Notice the general downwards trend.

Nuts and Bolts: Inventory or the amount of homes available for purchase in Santa Clara County was 591, up from 495 or 19.4% from the record low in December but a decrease of 18.5% from the same month a year ago. whereas sales (accepted offers -- please see above chart) decreased 13.2% in Santa Clara County keeping the downtrend in force since 2012.

For San Mateo County, inventory of single family residences stood at just 234 which decreased 2.9% from the same month a year ago. For both counties, the inventory continues to lag below the average for this time of the year placing pressure on buyers as evidenced in the predominance of multiple offer situations and heated competition between buyers. Sales (accepted offers) were 200 a 8.7% decrease from the same month a year ago.  

Sale price to list price ratio shows that for Santa Clara County transactions completed during January, this ratio stood at 102.5%, level with the previous month and among the highest for this time of year over the past 16 years! Currently, the highest ratio belongs to the Los Altos/Palo Alto market area (median price of about $2.30 million) at 108.3%, a continued very hot marketplace! It also registered the lowest median days on market at just 9 which means half the inventory disappears in just 9 days! 

The Cupertino/Sunnyvale market area (median price about $1.60 million) came in a close second at 106.7% with a median days on market of 13. San Mateo County's ratio overall is at 105.0% with the highest ratio in the Bay Cities (Belmont, Burlingame, Milbrae, San Carlos, San Mateo) market area (median price of about $1.42 million) at 106.2%.

As you may suspect, market dynamics change and the supply and demand relationships can vary by area. If you would like specific market condition information for your area or neighborhood or a current home value, please feel free to call me, your Remax Agent! And as always, you are welcome to leave your comments or questions. Thank you.

What $6 Billion Gets You in Silicon Valley!

What $6 Billion Gets You in Silicon Valley!

World Class Chocolate in the Valley of Hearts Delight

You've made dinner reservations at a romantic restaurant (we did!) and you might have picked up a little something for her at one of her favorite stores (I'm looking!) but then there's always sweets for your Sweets for Valentine's Day.


Here are some world class chocolatiers from Silicon Valley to Santa Cruz to consider:


Chocolate Dream Box

• 15557 Union Avenue, Los Gatos 95032. 408-356-2626http://www.chocolatedreambox.com/

Pictured are hand-crafted European-style chocolates in beautiful boxes by Chocolate Dream Box

Fleur e Cocoa Patisserie Chocolaterie

39 N. Santa Cruz Avenue, Los Gatos 95030. 408-354-3574 http://www.fleurdecocoa.com/




Richard Donnelly Chocolates

• 1509 Mission Street, Santa Cruz 95060. 831-458-4214 http://www.donnellychocolates.com/

Saratoga Chocolates

• 14572-B Big Basin Way, Saratoga 95070. 408-872-1431 http://www.saratogachocolates.com/

Schurra's Fine Confections

• 840 The Alameda, San Jose 95126. 408-289-1562  http://www.schurrasfineconfections.com/

Sugar Butter Flour

• 669 S. Bernardo Avenue, Sunnyvale 94087. 408-732-8597 http://www.sugarbutterflour.com/

• 1875 S. Bascom Avenue (in the Pruneyard Shopping Center), Campbell, CA 95008. Phone: 408-371-5485

Pictured is Dark Chocolate Ganache Truffle from Sugar Butter Flour




Happy Valentine's Day!

Thanks for reading!

Lunar New Year - 2016

Happy New Year! OK, Happy Lunar New Year! In the Chinese calendar, the longest chronological record in history dating back to 2700 B.C., this year marks the lunar year 4714 -- Year of the Monkey. The first day of the lunar year is February 8, 2016. For the Tet Vietnamese New Year it will be the same, Year of the Monkey! 

Famous people born in the Year of the Monkey include: Lucy Liu, Donald Rumsfeld, Elizabeth Taylor, Johnny Cash, Elanor Roosevelt, Tom Hanks, Will Smith, Patti Labelle. Tom Selleck, Buster Keaton, Joe Cocker, Jennifer Aniston, Michael Douglas

Here are selected local events celebrating the Lunar New Year in San Francisco and Alameda counties.

Alameda County:

Saturday, February 20, 7:00pm-9:30pm - 2016 PKUAANC Chinese New Year Gala

Peking University Alumni Association of Northern California (PKUAANC) at James Logan High School Center for the Performing Arts, 1800 H Street, Union City, CA 94587

San Francisco/San Francisco's Chinatown:

Saturday, January 30, 10:30am, mini procession/ribbon cutting, Chinatown/Grant Avenue from California to Pacific. Sneak peak at what larger parade will bring! Ribbon cutting approximately 10:50am on the main stage on Washington Street, mayor is joined by others to officially open festival.

Saturday, January 30, 10:00am-8:00pm, Flower Market Fair, Chinatown/Grant Avenue

Sunday, January 31, 9:00am-6:00pm, Flower Market Fair, Chinatown/Grant Avenue

Saturday, February 6, 10:00am-4:00pm - 23rd Annual Basketball Jamboree, Betty Ann Ong Recreational Center - San Francisco. More information: email hoopsterlee@gmail.com

Saturday, February 13, 7:30pm - Miss Chinatown USA Pageant, Palace of Fine Arts, San Francisco (www.chineseparade.com). Tickets: $35, $45, $65.

Friday, February 19, 6:00pm-Midnight, Miss Chinatown USA Coronation Ball, San Francisco Hilton and Towers, 333 O'Farrell Street. More information: Chinese Chamber of Commerce., 415-982-3071

Saturday, February 20, 5:15-8:00pm, Southwest Airlines Chinese New Year Parade http://www.chineseparade.com 

History: San Francisco's Chinese New Year Parade began in 1860 and was named by the IFEA to be one of the top ten parades in the world! It is also one of the few remaining night illuminated parades in the country. The parade and festival have grown to be the largest celebration of Asian culture outside of Asia! Since 1958 the parade has been organized and directed by the Chinese Chamber of Commerce.

More Information: Chinese New Year Festival and Parade, Market and Second Streets to Kearney and Jackson. Check out "Gum Lung", the 201-foot-long Golden Dragon! (www.chineseparade.com/)  Can't be there?  Watch or DVR it on KTVU Fox Channel 2 or KTSF Channel 26 (Chinese broadcast) on Saturday, February 20, from 6:00-8:00pm.

Sunday, February 28, 8:00am start, registration begins at 7:00am, 38th Annual Chinese Chamber of Commerce & Chinatown YMCA 10K/5K Run/Walk, Chinatown/Sacramento and Grant www.ysfchinatownrun.org or 415-576-9622

This event comprises a 10K or 5K run or walk and raises funds for the YMCA's youth and teen programs. The event expects 1,700 participants and 250 volunteers.

More Than A Hundred Years of the Chinese (Lunar) Calendar (1912 to 2031) --

The Chinese Calendar names each year after an animal and legend has it that a person born under a certain animal will display traits of that animal. I was born in the Year of the Tiger. What sign are you in the Chinese 12-year calendar cycle? Look up in the table below what year you were born and the corresponding animal.

Rat: 1912 1924 1936 1948 1960 1972 1984 1996 2008 2020

Ox: 1913 1925 1937 1949 1961 1973 1985 1997 2009 2021

Tiger: 1914 1926 1938 1950 1962 1974 1986 1998 2010 2022

Rabbit: 1915 1927 1939 1951 1963 1975 1987 1999 2011 2023

Dragon: 1916 1928 1940 1952 1964 1976 1988 2000 2012 2024

Snake: 1917 1929 1941 1953 1965 1977 1989 2001 2013 2025

Horse: 1918 1930 1942 1954 1966 1978 1990 2002 2014 2026

Ram: 1919 1931 1943 1955 1967 1979 1991 2003 2015 2027

Monkey: 1920 1932 1944 1956 1968 1980 1992 2004 2016 2028

Rooster: 1921 1933 1945 1957 1969 1981 1993 2005 2017 2029

Dog: 1922 1934 1946 1958 1970 1982 1994 2006 2018 2030

Boar: 1923 1935 1947 1959 1971 1983 1995 2007 2019 2031

Gung Hey Fat Choy! Happy Year of the Monkey!

Chúc Mung Nam Moi! Happy Tet 2016 - Year of the Monkey!