Last week, the Mercury News real estate blog posted that the house prices in the San Jose-Sunnyvale-Santa Clara region rose 10.3% since the second quarter of 2005.
Wow, that’s pretty interesting stuff…doesn’t sound like market softening to me!
But, what if my home is in a different neighborhood like Willow Glenn, Berryessa, or Downtown San Jose? If I sold today, do you think I’d get that kind of bounce?
I pulled some data from Trulia and found that San Jose actually only grew 3.4%, which means the Sunnyvale-Santa Clara regions must’ve grown at a faster clip. And within San Jose, the downtown neighborhood grew the fastest at 16.3% but the Berryessa neighborhood saw a massive 24% drop.
At Trulia, we think that all real estate is local. Detailed information at the hyper-local level is what is most useful for home buyers, sellers, owners and browsers. The trend data at the “metro area” level is great water cooler talk, but not that relevant when you’re making decisions about your most important asset.
What do you think? Is this information useful?
|
San Jose, CA Neighborhoods
|
Median Sales Price
|
% change (yoy)
|
| Almaden Valley |
$905,000
|
5.1%
|
| Berryessa |
$492,500
|
-24.2%
|
| Blossom Valley |
$630,000
|
4.1%
|
| Buena Vista |
$437,000
|
-2.9%
|
| Burbank |
$587,500
|
4.9%
|
| Cambrian Park |
$701,000
|
2.3%
|
| Downtown San Jose |
$625,000
|
16.3%
|
| East Foothills |
$740,000
|
13.4%
|
| East San Jose |
$637,500
|
12.8%
|
| Edenvale Seven Trees |
$620,000
|
10.7%
|
| Evergreen |
$750,000
|
2.0%
|
| Fairgrounds |
$545,000
|
1.4%
|
| North San Jose |
$528,500
|
-3.9%
|
| North Valley |
$600,000
|
7.3%
|
| Santa Teresa |
$693,000
|
6.0%
|
| West San Jose |
$762,000
|
4.5%
|
| Willow Glen |
$695,000
|
-0.6%
|
| Avg for San Jose |
$644,059
|
3.4%
|
Popularity: 2% [?]
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September 18th, 2006 at 2:09 pm
Yes real estate is a very local business. Most people want more information about what is going on in their own neighborhood, then the city and maybe the state. I am seeing a lot of real estate mega sites out there that try to serve everyone every where. No way! Keep it local. People care the most about the value of their very own home. Tjat is super duper hyper local.
Just put your free mapping feature on my web site. Thanks! I love it.
September 18th, 2006 at 11:22 pm
Teresa - this is Heather from Trulia…thanks for your comment and you are very welcome for TruliaMap!
September 24th, 2006 at 1:12 pm
Just wanted to give kudos to you guys for creating an awesome real estate web search
-Micah
RedCritic.com - Online Investment and Money for the Individual
January 27th, 2008 at 1:46 pm
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