Kim Richman - Real Estate Market Trends Reports

Kim Richman Sereno Group Real Estate 214 Los Gatos - Saratoga Rd. Los Gatos, CA 95030 (408) 406-9533 [email protected] http://www.KimRichmanTeam.com Cal BRE #01076556

Prices for single-family homes and condos/townhomes reached new highs in 2017. The median prices for homes gained 15.2% compared to 2016. This is the largest gain since 2014. The median price for condos/townhomes rose 10.6% from 2016. (See tables on next page for details.)

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Home sales, surprisingly, were up last year. Single-family, re-sale home sales rose 3.3% year-over-year. Condo/townhome sales were off 1.5%. The sales price to list price ratios jumped to their highest point ever. The ratio for homes was 106.0%, while it was 105.8% for condos.

The real estate market will be among the sectors most impacted by the tax bill. The legislation calls for reduced tax rates for individuals with higher standard deductions but institutes caps on mortgage interest deductions and the deduction of state and local taxes. The individual cuts expire in 2025.

Yeah, the new tax bill will not be friendly to Please discuss the new rules with your tax advisor homeowners in the Bay Area, and we haven’t even to determine how the changes will impact your personal circumstances. This article may not be added in sales tax paid. relied upon as tax or legal advice.

In another blow to future homeowners, the deduction for mortgage interest has been lowered from $1,000,000 to $750,000. Existing mortgages How it will shake out is still unknown, but many real will be grandfathered in. That might give people less incentive to move. estate experts have been up in arms about the changes, with the National Association of Realtors Interest on home equity debt is no longer (NAR) initially warning that it could lower home deductible, unless the proceeds are used in a trade prices by up to 10% in every state. or business acquisition or to improve rentals. Home equity debt includes refinances on your primary or secondary residences as well as HELOCs. The new $10,000 cap on how much local and state tax can be deducted from federal income taxes will If the tax bill does result in fewer people moving, inventory will continue to by abysmal. On the other have an outsized impact on the Bay Area. hand, the loss of the tax deduction and the Take couples with enough adjusted gross income lowering of the mortgage interest deduction will to put them in the state’s 9.3% category, that’s probably curtail demand. income between $105,258 and $537,499, the state At this point, all we can do is keep a watch on the income tax ranges from $9,786 to $49,987. market to see how this all plays out. Now, let’s get to property taxes. In Santa Clara County, the effective tax rate is about 1.21%. Let’s Although we have gleaned this information from apply that to the median price of homes sold in reliable sources, the IRS and CPAs have only had 2017, which was about $1,200,000. Property taxes a few weeks to go through the tax bill. They’re still on homes that were sold for that amount, or trying to figure out all the nuances. assessed for that amount, equals $14,520.

Kim Richman | (408) 406-9533 | [email protected] | http://www.KimRichmanTeam.com

Santa Clara County SINGLE-FAMILY HOMES Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Sales 15,281 11,843 9,165 9,120 11,878 11,382 11,175 11,990 10,981 10,230 10,574 10,001 10,327

Prices Median Average $ 739,000 $ 897,788 $ 773,000 $ 940,731 $ 838,000 $ 1,044,150 $ 660,000 $ 837,184 $ 525,000 $ 660,573 $ 596,000 $ 746,716 $ 567,000 $ 741,134 $ 640,000 $ 833,954 $ 780,000 $ 993,306 $ 855,000 $ 1,120,710 $ 950,000 $ 1,246,600 $ 1,020,000 $ 1,284,700 $ 1,175,000 $ 1,446,320

SP/LP 101.0% 100.1% 100.0% 98.5% 99.9% 100.1% 99.2% 101.5% 104.1% 104.1% 105.2% 102.8% 106.0%

This information is brought to you by:

% Change from Year Before Prices DOI Sales Med Ave 123 81 -22.5% 4.6% 4.8% 190 -22.6% 8.4% 11.0% 216 -0.5% -21.2% -19.8% 99 30.2% -20.5% -21.1% 117 -4.2% 13.5% 13.0% 76 -1.8% -4.9% -0.7% 34 7.3% 12.9% 12.5% 32 -8.4% 21.9% 19.1% 18 -6.8% 9.6% 12.8% 21 3.4% 11.1% 11.2% 18 -5.4% 7.4% 3.1% 10 3.3% 15.2% 12.6%

KIM RICHMAN Sereno Group Real Estate 214 Los Gatos - Saratoga Rd. Los Gatos, CA 95030 (408) 406-9533 [email protected] http://www.KimRichmanTeam.com Cal BRE #01076556

Santa Clara County Homes - Prices & Sales 16,000

$1,100

11,000

Thousands

$1,600

$600

6,000

$100

1,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median Average Sales © 2017 rereport.com

Santa Clara County Condos - Prices & Sales $900

7,000

Thousands

$700

5,000

$500

3,000

$300 $100

1,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median Average Sales © 2017 rereport.com

Santa Clara County

Condominiums Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Sales 6,501 5,156 3,851 2,913 3,943 3,956 4,393 4,517 4,754 4,462 4,240 4,218 4,156

$ $ $ $ $ $ $ $ $ $ $ $ $

Prices Median 475,000 $ 500,000 $ 529,888 $ 435,000 $ 320,000 $ 345,000 $ 300,000 $ 365,000 $ 477,000 $ 530,000 $ 610,000 $ 660,000 $ 730,000 $

Average 499,984 525,424 557,164 472,039 363,951 382,319 355,619 414,108 520,910 583,557 668,555 730,128 802,880

SP/LP 101.5% 100.1% 99.6% 97.9% 99.5% 99.7% 99.0% 102.1% 104.8% 103.3% 105.8% 103.6% 105.8%

% Change from Year Before Prices DOI Sales Med Ave 101 68 -20.7% 5.3% 5.1% 149 -25.3% 6.0% 6.0% 235 -24.4% -17.9% -15.3% 116 35.4% -26.4% -22.9% 150 0.3% 7.8% 5.0% 73 11.0% -13.0% -7.0% 27 2.8% 21.7% 16.4% 24 5.2% 30.7% 25.8% 8 -6.1% 11.1% 12.0% 12 -5.0% 15.1% 14.6% 14 -0.5% 8.2% 9.2% 2 -1.5% 10.6% 10.0%

If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully.

Based on information from MLS Listings. Inc. Due to MLS reporting and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, we do not guarantee the data accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.

Campbell

SINGLE-FAMILY HOMES Prices Year Sales Average Median 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

108 288 286 190 237 245 252 320 282 281 266 288 358

$ 798,825 $ 828,778 $ 856,076 $ 798,025 $ 700,641 $ 710,399 $ 705,053 $ 738,462 $ 816,500 $ 945,000 $ 1,082,250 $ 1,231,430 $ 1,404,510

$ $ $ $ $ $ $ $ $ $ $ $ $

736,944 777,000 800,000 759,000 670,000 675,000 670,000 700,500 881,456 1,008,610 1,149,520 1,162,500 1,337,400

SP/LP

100.4% 99.6% 99.2% 97.4% 97.1% 98.7% 98.1% 100.4% 103.6% 105.3% 106.4% 102.8% 107.5%

22 28 41 54 68 61 70 43 25 19 18 25 19

166.7% -0.7% -33.6% 24.7% 3.4% 2.9% 27.0% -11.9% -0.4% -5.3% 8.3% 24.3%

3.7% 3.3% -6.8% -12.2% 1.4% -0.8% 4.7% 10.6% 15.7% 14.5% 13.8% 14.1%

$1,500

Sereno Group Real Estate 214 Los Gatos - Saratoga Rd. Los Gatos, CA 95030 (408) 406-9533 [email protected] http://www.KimRichmanTeam.com Cal BRE #01076556

410

$1,300

310

$1,100 Thousands

KIM RICHMAN

5.4% 3.0% -5.1% -11.7% 0.7% -0.7% 4.6% 25.8% 14.4% 14.0% 1.1% 15.0%

Campbell Homes - Prices & Sales

210

$900

110

$700 $500

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

10

© 2017 rereport.com

Campbell Condos - Prices & Sales

Thousands


% Change from Year Before Prices DOM Sales Ave Med

$900

210

$700

160

$500

110

$300

60

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

Campbell Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

91 188 174 109 102 124 123 151 150 149 149 127 117

$ $ $ $ $ $ $ $ $ $ $ $ $

Prices Average Median 552,485 536,294 563,685 507,411 446,695 430,068 403,406 414,218 520,709 604,606 703,147 724,280 822,156

$ $ $ $ $ $ $ $ $ $ $ $ $

549,950 528,000 547,000 510,000 450,000 427,500 395,000 395,000 523,000 600,000 716,000 735,000 830,000

SP/LP

101.0% 99.8% 99.1% 97.7% 98.0% 98.0% 97.0% 101.0% 105.0% 103.0% 106.0% 103.3% 106.1%

10


% Change from Year Before Prices DOM Column Column Column 21 27 40 67 84 69 84 56 19 23 16 21 15

106.6% -7.4% -37.4% -6.4% 21.6% -0.8% 22.8% -0.7% -0.7% 0.0% -14.8% -7.9%

-2.9% 5.1% -10.0% -12.0% -3.7% -6.2% 2.7% 25.7% 16.1% 16.3% 3.0% 13.5%

-4.0% 3.6% -6.8% -11.8% -5.0% -7.6% 0.0% 32.4% 14.7% 19.3% 2.7% 12.9%



Cupertino


173 384 414 292 324 391 346 347 305 289 268 238 230

$ $ $ $ $ $ $ $ $ $ $ $ $

1,109,710 1,166,750 1,281,250 1,232,649 1,121,641 1,112,847 1,142,256 1,252,051 1,488,657 1,725,888 1,907,468 1,981,640 2,127,260

$ $ $ $ $ $ $ $ $ $ $ $ $

1,020,690 1,101,500 1,194,510 1,187,500 1,070,500 1,077,850 1,115,000 1,250,000 1,425,000 1,680,000 1,845,000 1,880,000 2,100,000

SP/LP

100.7% 100.8% 102.2% 99.5% 96.7% 99.3% 99.7% 102.7% 106.1% 109.0% 109.0% 104.6% 109.9%

21 22 27 30 62 41 39 32 18 19 21 19 16

122.0% 7.8% -29.5% 11.0% 20.7% -11.5% 0.3% -12.1% -5.2% -7.3% -11.2% -3.4%

5.1% 9.8% -3.8% -9.0% -0.8% 2.6% 9.6% 18.9% 15.9% 10.5% 3.9% 7.3%

Thousands


7.9% 8.4% -0.6% -9.9% 0.7% 3.4% 12.1% 14.0% 17.9% 9.8% 1.9% 11.7%

Cupertino Homes - Prices & Sales $2,600

510

$2,100

410

$1,600

310

$1,100

210

$600

110

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Median

Average

Sales

10


Cupertino Condos - Prices & Sales $1,600

210 160

$1,100 Thousands



110 $600 $100

60

10 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median Average Sales © 2017 rereport.com

Cupertino Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

51 156 165 105 85 117 111 104 119 98 91 95 88

Prices Average Median

$ 679,676 $ 690,922 $ 701,775 $ 735,864 $ 682,317 $ 640,878 $ 676,668 $ 672,457 $ 799,890 $ 920,699 $ 1,064,333 $ 1,135,590 $ 1,246,710

$ 630,000 $ 669,006 $ 656,000 $ 690,000 $ 655,000 $ 625,000 $ 675,000 $ 627,500 $ 760,000 $ 895,500 $ 998,888 $ 1,128,000 $ 1,200,000

SP/LP

100.5% 100.3% 100.7% 99.4% 97.0% 98.7% 99.5% 101.9% 107.1% 107.0% 111.0% 105.0% 109.9%

% Change from Year Before Prices DOM Sales Ave Med 20 23 28 26 56 57 46 24 16 18 16 26 14

205.9% 5.8% -36.4% -19.0% 37.6% -5.1% -6.3% 14.4% -17.6% -7.1% 4.4% -7.4%

1.7% 1.6% 4.9% -7.3% -6.1% 5.6% -0.6% 19.0% 15.1% 15.6% 6.7% 9.8%

6.2% -1.9% 5.2% -5.1% -4.6% 8.0% -7.0% 21.1% 17.8% 11.5% 12.9% 6.4%




266 545 297 495 696 517 587 617 510 489 565 581 618

$ $ $ $ $ $ $ $ $ $ $ $ $

793,528 798,126 795,623 513,913 419,228 447,748 435,594 447,018 592,251 644,788 700,857 728,507 776,103

$ $ $ $ $ $ $ $ $ $ $ $ $

710,000 720,000 705,000 453,000 375,000 405,000 390,000 406,000 525,000 585,000 631,000 669,800 705,000

Gilroy SP/LP

100.1% 99.4% 97.9% 96.3% 98.9% 99.6% 98.3% 99.4% 99.7% 99.0% 100.0% 99.8% 100.4%

27 43 80 79 98 72 92 69 45 47 41 42 33

104.9% -45.5% 66.7% 40.6% -25.7% 13.5% 5.1% -17.3% -4.1% 15.5% 2.8% 6.4%

0.6% -0.3% -35.4% -18.4% 6.8% -2.7% 2.6% 32.5% 8.9% 8.7% 3.9% 6.5%

Thousands


1.4% -2.1% -35.7% -17.2% 8.0% -3.7% 4.1% 29.3% 11.4% 7.9% 6.1% 5.3%

Gilroy Homes - Prices & Sales $900

810

$700

610

$500

410

$300

210

$100


Gilroy Condos- Prices & Sales $500

70

$400 Thousands



50

$300 30

$200

$100


Gilroy Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

25 53 18 15 60 32 31 38 54 30 34 28 25

$ $ $ $ $ $ $ $ $ $ $ $ $


$ $ $ $ $ $ $ $ $ $ $ $ $

390,000 372,500 417,500 265,000 181,500 186,000 187,000 186,950 275,250 363,500 352,500 422,750 449,600

SP/LP

101.7% 99.9% 98.9% 95.3% 97.9% 100.9% 98.3% 100.8% 102.1% 100.0% 100.0% 102.1% 101.3%


112.0% -66.0% -16.7% 300.0% -46.7% -3.1% 22.6% 42.1% -44.4% 13.3% -17.6% -10.7%

1.0% 6.2% -38.5% -29.5% 0.5% -1.4% -0.1% 53.1% 19.5% 6.7% 15.2% 2.2%

-4.5% 12.1% -36.5% -31.5% 2.5% 0.5% 0.0% 47.2% 32.1% -3.0% 19.9% 6.4%



Los Altos


143 353 324 252 269 334 307 365 323 292 309 252 323

$ $ $ $ $ $ $ $ $ $ $ $ $

1,687,890 1,782,880 1,880,510 1,960,647 1,654,914 1,688,322 1,769,435 1,975,216 2,161,519 2,536,402 2,952,859 2,852,110 3,262,470

$ $ $ $ $ $ $ $ $ $ $ $ $

1,585,000 1,621,000 1,749,000 1,797,500 1,510,000 1,550,000 1,647,500 1,825,000 2,100,000 2,370,000 2,750,000 2,705,000 3,010,000

SP/LP

100.1% 100.3% 102.8% 99.3% 95.4% 97.3% 98.4% 102.1% 105.6% 111.0% 110.0% 104.5% 107.2%

24 25 29 28 65 54 39 31 22 16 16 21 17

146.9% -8.2% -22.2% 6.7% 24.2% -8.1% 18.9% -11.5% -9.6% 5.8% -18.4% 28.2%

5.6% 5.5% 4.3% -15.6% 2.0% 4.8% 11.6% 9.4% 17.3% 16.4% -3.4% 14.4%


2.3% 7.9% 2.8% -16.0% 2.6% 6.3% 10.8% 15.1% 12.9% 16.0% -1.6% 11.3%

Los Altos Homes - Prices & Sales

Thousands



$4,100

410

$3,100

310

$2,100

210

$1,100

110

$100


Thousands

Los Altos Condos- Prices & Sales $2,100

90

$1,600

70

$1,100

50

$600

30

$100


Los Altos Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

21 62 54 33 39 41 50 46 68 43 43 68 46

$ $ $ $ $ $ $ $ $ $ $ $ $

Prices Average Median 751,262 769,576 904,119 852,121 746,702 736,438 810,094 874,083 1,044,142 1,329,290 1,386,967 1,503,050 1,640,840

$ $ $ $ $ $ $ $ $ $ $ $ $

747,000 696,250 889,000 864,000 760,000 760,000 792,500 864,500 952,000 1,200,000 1,421,000 1,425,500 1,565,000

SP/LP

100.4% 99.8% 101.0% 99.0% 95.0% 95.8% 98.0% 101.0% 105.4% 106.0% 107.0% 101.7% 105.0%


195.2% -12.9% -38.9% 18.2% 5.1% 22.0% -8.0% 47.8% -36.8% 0.0% 58.1% -32.4%

2.4% 17.5% -5.8% -12.4% -1.4% 10.0% 7.9% 19.5% 27.3% 4.3% 8.4% 9.2%

-6.8% 27.7% -2.8% -12.0% 0.0% 4.3% 9.1% 10.1% 26.1% 18.4% 0.3% 9.8%



Los Altos Hills


39 96 96 61 68 81 99 113 114 90 94 93 92

$ $ $ $ $ $ $ $ $ $ $ $ $

2,789,040 2,745,090 3,028,270 2,889,133 2,614,368 2,590,416 2,705,218 2,916,770 3,069,500 3,498,817 4,370,163 4,434,090 4,449,680

$ $ $ $ $ $ $ $ $ $ $ $ $

2,395,000 2,405,400 2,575,000 2,420,000 2,435,000 2,315,000 2,300,000 2,600,000 2,796,500 3,250,000 3,612,500 3,850,000 3,790,000

SP/LP

96.8% 96.4% 96.6% 95.1% 94.5% 93.4% 94.5% 97.1% 98.4% 103.0% 105.0% 98.3% 102.0%



146.2% 0.0% 0.0% 11.5% 19.1% 22.2% 14.1% 0.9% -21.1% 4.4% -1.1% -1.1%

-1.6% 10.3% 10.3% -9.5% -0.9% 4.4% 7.8% 5.2% 14.0% 24.9% 1.5% 0.4%


0.4% 7.1% 7.1% 0.6% -4.9% -0.6% 13.0% 7.6% 16.2% 11.2% 6.6% -1.6%

Los Altos Hills Homes - Prices & Sales $5,100

160

$4,100 110

Thousands

$3,100 $2,100

60

$1,100 $100


Monte Sereno Homes - Prices & Sales $4,100

70

Thousands

$3,100

50

$2,100 30

$1,100 $100


Morgan Hill


195 416 348 290 428 407 424 515 456 489 484 462 527

$ $ $ $ $ $ $ $ $ $ $ $ $

881,969 945,000 902,493 743,303 606,986 634,581 597,378 616,151 722,419 805,346 908,329 949,615 992,465

$ $ $ $ $ $ $ $ $ $ $ $ $

802,500 856,500 843,250 682,500 550,000 590,000 520,000 566,000 689,950 742,000 820,000 859,000 920,000

SP/LP

99.3% 98.3% 97.7% 95.6% 96.7% 98.1% 97.1% 98.3% 100.0% 99.0% 100.0% 99.7% 100.5%


113.3% -16.3% -16.7% 47.6% -4.9% 4.2% 21.5% -11.5% 7.2% -1.0% -4.5% 14.1%

7.1% -4.5% -17.6% -18.3% 4.5% -5.9% 3.1% 17.2% 11.5% 12.8% 4.5% 4.5%

6.7% -1.5% -19.1% -19.4% 7.3% -11.9% 8.8% 21.9% 7.5% 10.5% 4.8% 7.1%



Los Gatos


136 299 308 262 268 330 329 375 354 352 476 416 468

$ $ $ $ $ $ $ $ $ $ $ $ $

1,346,330 1,495,410 1,624,290 1,616,054 1,239,990 1,321,628 1,390,203 1,535,105 1,480,000 1,702,500 1,672,500 1,809,630 2,030,880

$ $ $ $ $ $ $ $ $ $ $ $ $

1,240,000 1,355,000 1,450,000 1,360,000 1,150,000 1,175,000 1,250,000 1,303,500 1,621,650 1,886,900 1,844,050 1,566,500 1,857,500

SP/LP

98.1% 98.7% 98.6% 96.4% 95.4% 96.4% 95.0% 97.2% 100.6% 101.0% 100.7% 99.4% 101.2%

28 32 39 43 90 76 77 52 35 40 32 45 34

119.9% 3.0% -14.9% 2.3% 23.1% -0.3% 14.0% -5.6% -0.6% 35.2% -12.6% 12.5%

11.1% 8.6% -0.5% -23.3% 6.6% 5.2% 10.4% -3.6% 15.0% -1.8% 8.2% 12.2%


9.3% 7.0% -6.2% -15.4% 2.2% 6.4% 4.3% 24.4% 16.4% -2.3% -15.1% 18.6%

Los Gatos Homes - Prices & Sales

Thousands



$2,600

510

$2,100

410

$1,600

310

$1,100

210

$600

110

$100


Thousands

Los Gatos Condos- Prices & Sales $1,600

160

$1,100

110

$600

60

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

Los Gatos Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

52 113 115 67 81 95 98 143 119 126 114 92 104


$ 664,408 $ 675,868 $ 741,004 $ 725,351 $ 629,955 $ 590,434 $ 579,934 $ 637,122 $ 696,637 $ 839,580 $ 925,283 $ 1,042,140 $ 1,066,290

$ 635,000 $ 650,000 $ 740,000 $ 725,000 $ 640,000 $ 611,000 $ 585,000 $ 650,000 $ 705,000 $ 840,000 $ 967,500 $ 1,048,500 $ 1,100,750

SP/LP

100.6% 98.9% 99.3% 97.9% 97.5% 97.2% 97.6% 98.8% 102.1% 102.0% 104.0% 102.2% 103.6%

10



117.3% 1.8% -41.7% 20.9% 17.3% 3.2% 45.9% -16.8% 5.9% -9.5% -19.3% 13.0%

1.7% 9.6% -2.1% -13.2% -6.3% -1.8% 9.9% 9.3% 20.5% 10.2% 12.6% 2.3%

2.4% 13.8% -2.0% -11.7% -4.5% -4.3% 11.1% 8.5% 19.1% 15.2% 8.4% 5.0%




197 411 272 254 354 370 332 369 327 295 321 339 274

$ 723,158 $ 754,898 $ 735,069 $ 583,880 $ 516,305 $ 541,571 $ 521,592 $ 590,128 $ 702,359 $ 763,531 $ 893,851 $ 932,295 $ 1,044,260

$ $ $ $ $ $ $ $ $ $ $ $ $

Milpitas

695,000 710,000 690,500 550,000 460,000 500,000 470,000 530,000 672,000 715,000 842,000 873,000 995,000

SP/LP

101.6% 99.8% 98.9% 97.4% 99.8% 99.8% 98.8% 99.8% 103.2% 103.0% 105.0% 103.5% 108.2%

22 30 40 53 76 61 70 55 28 25 29 22 17

108.6% -33.8% -6.6% 39.4% 4.5% -10.3% 11.1% -11.4% -9.8% 8.8% 5.6% -19.2%

4.4% -2.6% -20.6% -11.6% 4.9% -3.7% 13.1% 19.0% 8.7% 17.1% 4.3% 12.0%

Thousands


2.2% -2.7% -20.3% -16.4% 8.7% -6.0% 12.8% 26.8% 6.4% 17.8% 3.7% 14.0%

Milpitas Homes - Prices & Sales $1,100

510

$900

410

$700

310

$500

210

$300

110

$100


Milpitas Condos- Prices & Sales $900

260 210

$700 Thousands



160

$500

110

$300

$100

60 10 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median Average Sales © 2017 rereport.com

Milpitas Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

85 175 129 81 129 166 192 192 198 211 191 180 180

$ $ $ $ $ $ $ $ $ $ $ $ $


$ $ $ $ $ $ $ $ $ $ $ $ $

550,000 520,000 546,000 475,000 280,000 343,750 282,000 317,500 460,000 550,000 600,000 665,750 790,000

SP/LP

101.6% 99.9% 98.8% 97.0% 99.4% 99.3% 98.4% 103.1% 104.4% 102.0% 104.0% 104.0% 104.8%


105.9% -26.3% -37.2% 59.3% 28.7% 15.7% 0.0% 3.1% 6.6% -9.5% -5.8% 0.0%

-2.3% 2.7% -15.3% -28.6% 2.6% -9.6% 5.6% 46.5% 17.1% 10.3% 8.4% 15.8%

-5.5% 5.0% -13.0% -41.1% 22.8% -18.0% 12.6% 44.9% 19.6% 9.1% 11.0% 18.7%



Monte Sereno


21 40 36 31 27 38 25 32 55 50 59 33 45

$ $ $ $ $ $ $ $ $ $ $ $ $

1,884,090 2,028,100 2,192,170 2,240,774 1,909,684 2,160,031 1,722,729 2,031,453 2,220,216 2,611,569 2,953,563 2,860,730 2,989,530

$ $ $ $ $ $ $ $ $ $ $ $ $

1,800,000 1,875,000 2,024,980 1,860,000 1,699,000 1,817,500 1,660,741 1,890,000 1,980,000 2,345,732 2,775,000 2,500,000 2,917,500

Morgan Hill Homes - Prices & Sales $1,100

SP/LP

97.6% 97.8% 97.5% 94.5% 94.0% 92.1% 94.6% 96.9% 98.8% 100.0% 100.0% 98.2% 97.9%



90.5% -10.0% -13.9% -12.9% 40.7% -34.2% 28.0% 71.9% -9.1% 18.0% -44.1% 36.4%

7.6% 8.1% 2.2% -14.8% 13.1% -20.2% 17.9% 9.3% 17.6% 13.1% -3.1% 4.5%


4.2% 8.0% -8.1% -8.7% 7.0% -8.6% 13.8% 4.8% 18.5% 18.3% -9.9% 16.7%

610

$900 410

Thousands

$700 $500

210

$300 $100


Morgan Hill Condos- Prices & Sales $700

110 90

Thousands

$500 $300

70 50 30

$100




Mountain View


146 318 271 235 254 300 281 325 280 232 253 235 228

$ $ $ $ $ $ $ $ $ $ $ $ $

932,039 990,795 1,085,900 1,067,009 946,438 956,709 1,002,662 1,128,912 1,346,474 1,504,320 1,774,932 1,840,330 2,057,470

$ $ $ $ $ $ $ $ $ $ $ $ $

870,000 910,500 1,060,000 982,000 874,840 902,500 965,000 1,100,000 1,275,000 1,467,500 1,700,000 1,745,000 1,989,940

SP/LP

103.1% 101.2% 103.5% 100.0% 97.5% 99.6% 100.6% 104.5% 107.9% 111.0% 112.0% 106.7% 110.5%

18 23 19 27 62 43 37 22 18 20 17 18 15

117.8% -14.8% -13.3% 8.1% 18.1% -6.3% 15.7% -13.8% -17.1% 9.1% -7.1% -3.0%

6.3% 9.6% -1.7% -11.3% 1.1% 4.8% 12.6% 19.3% 11.7% 18.0% 3.7% 11.8%


4.7% 16.4% -7.4% -10.9% 3.2% 6.9% 14.0% 15.9% 15.1% 15.8% 2.6% 14.0%

Mountain View Homes - Prices & Sales $2,600

410

$2,100

310

$1,600 Thousands



210

$1,100

110

$600 $100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average Mountain View Condos- Prices & Sales $1,600

Sales

10


510 410

Thousands

$1,100

310 210

$600

110 $100


Mountain View Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

211 434 356 262 287 268 290 340 356 293 294 322 310


$ 566,451 $ 563,953 $ 601,603 $ 587,710 $ 538,987 $ 539,266 $ 484,307 $ 589,060 $ 653,350 $ 792,429 $ 942,612 $ 1,046,710 $ 1,119,690

$ 541,000 $ 559,500 $ 606,500 $ 596,150 $ 540,000 $ 549,500 $ 470,000 $ 612,500 $ 650,000 $ 779,100 $ 905,000 $ 1,050,000 $ 1,148,000

SP/LP

102.8% 100.7% 101.5% 98.7% 97.7% 98.8% 98.6% 103.3% 108.1% 108.0% 115.0% 107.3% 110.0%


105.7% -18.0% -26.4% 9.5% -6.6% 8.2% 17.2% 4.7% -17.7% 0.3% 9.5% -3.7%

-0.4% 6.7% -2.3% -8.3% 0.1% -10.2% 21.6% 10.9% 21.3% 19.0% 11.0% 7.0%

3.4% 8.4% -1.7% -9.4% 1.8% -14.5% 30.3% 6.1% 19.9% 16.2% 16.0% 9.3%



Palo Alto


185 517 465 356 387 443 452 478 406 357 325 354 337

$ $ $ $ $ $ $ $ $ $ $ $ $

1,488,740 1,515,830 1,870,640 1,760,925 1,516,480 1,557,004 1,722,006 2,009,780 2,362,424 2,705,599 3,137,741 2,941,710 3,543,770

$ $ $ $ $ $ $ $ $ $ $ $ $

1,250,000 1,340,000 1,552,100 1,550,000 1,334,500 1,385,000 1,431,500 1,727,500 2,100,000 2,410,000 2,699,000 2,540,000 3,000,000

SP/LP

103.4% 103.1% 106.4% 100.6% 97.8% 100.1% 102.5% 104.8% 108.6% 114.0% 112.0% 104.2% 107.9%

24 24 24 26 50 44 32 23 17 16 18 23 20

179.5% -10.1% -23.4% 8.7% 14.5% 2.0% 5.8% -15.1% -12.1% -9.0% 8.9% -4.8%

1.8% 23.4% -5.9% -13.9% 2.7% 10.6% 16.7% 17.5% 14.5% 16.0% -6.2% 20.5%


7.2% 15.8% -0.1% -13.9% 3.8% 3.4% 20.7% 21.6% 14.8% 12.0% -5.9% 18.1%

Palo Alto Homes - Prices & Sales $4,100

610

$3,100 Thousands



410

$2,100 210

$1,100

$100


Palo Alto Condos - Prices & Sales $2,100

160

Thousands

$1,600

110

$1,100 60

$600 $100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

Palo Alto Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

63 144 127 103 85 124 142 147 112 108 85 100 86

$ $ $ $ $ $ $ $ $ $ $ $ $

Prices Average Median 651,944 745,148 816,744 865,040 768,583 778,745 776,807 916,456 1,011,236 1,248,082 1,490,334 1,502,320 1,571,420

$ $ $ $ $ $ $ $ $ $ $ $ $

610,000 675,500 760,000 801,000 675,000 717,500 760,000 890,000 947,500 1,250,000 1,458,888 1,505,000 1,510,000

SP/LP

102.4% 100.6% 102.1% 99.8% 96.3% 98.3% 99.1% 103.2% 105.9% 112.0% 109.0% 104.5% 109.0%

10



128.6% -11.8% -18.9% -17.5% 45.9% 14.5% 3.5% -23.8% -3.6% -21.3% 17.6% -14.0%

14.3% 9.6% 5.9% -11.2% 1.3% -0.2% 18.0% 10.3% 23.4% 19.4% 0.8% 4.6%

10.7% 12.5% 5.4% -15.7% 6.3% 5.9% 17.1% 6.5% 31.9% 16.7% 3.2% 0.3%



San Jose


3,119 6,525 4,451 5,083 7,046 6,333 6,182 6,488 5,990 5,583 5,797 5,355 5,386

$ 754,902 $ 787,913 $ 823,847 $ 628,855 $ 506,205 $ 564,663 $ 545,463 $ 603,981 $ 755,144 $ 842,228 $ 926,699 $ 984,837 $ 1,102,810

$ 690,000 $ 715,000 $ 741,000 $ 560,000 $ 450,000 $ 510,000 $ 482,000 $ 543,972 $ 693,000 $ 755,000 $ 835,000 $ 890,000 $ 1,000,000

SP/LP

101.1% 100.0% 99.2% 98.6% 99.5% 99.9% 98.8% 100.7% 102.9% 103.0% 104.0% 102.7% 105.8%



109.2% -31.8% 14.2% 38.6% -10.1% -2.4% 4.9% -7.7% -6.8% 3.8% -7.6% 0.6%

4.4% 4.6% -23.7% -19.5% 11.5% -3.4% 10.7% 25.0% 11.5% 10.0% 6.3% 12.0%


3.6% 3.6% -24.4% -19.6% 13.3% -5.5% 12.9% 27.4% 8.9% 10.6% 6.6% 12.4%

San Jose Homes - Prices & Sales $1,600

9,000 7,000

$1,100 Thousands

5,000 $600

3,000

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Median

Average

Sales

1,000


San Jose Condos - Prices & Sales $700

3,500 3,000

Thousands

$500

2,500 2,000

$300

1,500

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

San Jose Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

1,386 2,991 2,002 1,651 2,416 2,371 2,635 2,592 2,639 2,636 2,557 2,436 2,434

$ $ $ $ $ $ $ $ $ $ $ $ $


$ $ $ $ $ $ $ $ $ $ $ $ $

450,000 469,950 485,000 355,000 250,000 280,000 250,000 300,000 420,000 460,000 530,000 575,000 635,000

SP/LP

101.4% 100.0% 99.0% 97.7% 99.3% 99.7% 98.7% 101.2% 103.6% 102.0% 104.0% 102.8% 104.4%

1,000



115.8% -33.1% -17.5% 46.3% -1.9% 11.1% -1.6% 1.8% -0.1% -3.0% -4.7% -0.1%

3.2% 2.6% -24.3% -24.2% 7.8% -8.8% 16.3% 33.9% 10.0% 14.8% 7.1% 11.1%

4.4% 3.2% -26.8% -29.6% 12.0% -10.7% 20.0% 40.0% 9.5% 15.2% 8.5% 10.4%



Santa Clara


275 568 508 456 506 517 526 591 566 540 590 505 599

$ 722,136 $ 743,526 $ 782,209 $ 693,892 $ 600,789 $ 606,094 $ 599,678 $ 652,138 $ 777,646 $ 893,559 $ 1,019,237 $ 1,129,290 $ 1,302,930

$ 705,000 $ 717,500 $ 749,400 $ 650,000 $ 580,000 $ 580,000 $ 577,625 $ 626,000 $ 739,425 $ 847,000 $ 975,000 $ 1,075,000 $ 1,260,000

SP/LP

101.8% 100.5% 99.8% 97.8% 99.3% 99.3% 98.7% 102.2% 105.1% 106.0% 109.0% 105.5% 110.7%

18 23 31 42 74 48 61 46 20 19 18 21 13

106.5% -10.6% -10.2% 11.0% 2.2% 1.7% 12.4% -4.2% -4.6% 9.3% -14.4% 18.6%

3.0% 5.2% -11.3% -13.4% 0.9% -1.1% 8.7% 19.2% 14.9% 14.1% 10.8% 15.4%


1.8% 4.4% -13.3% -10.8% 0.0% -0.4% 8.4% 18.1% 14.5% 15.1% 10.3% 17.2%

Santa Clara Homes - Prices & Sales

700

$1,100

500

$600

300

Thousands

$1,600

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

100


Santa Clara Condos - Prices & Sales

Thousands



$900

500

$700

400

$500

300

$300

200

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

Santa Clara Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

162 398 307 213 265 251 305 345 370 323 356 338 331

$ $ $ $ $ $ $ $ $ $ $ $ $


$ $ $ $ $ $ $ $ $ $ $ $ $

484,950 455,000 478,000 435,000 380,000 370,000 315,000 375,000 472,500 538,000 650,000 695,000 768,000

SP/LP

101.4% 99.9% 99.1% 97.4% 99.2% 99.8% 98.7% 102.4% 104.2% 104.0% 108.0% 104.6% 107.1%

100



145.7% -22.9% -30.6% 24.4% -5.3% 21.5% 13.1% 7.2% -12.7% 10.2% -5.1% -2.1%

-0.6% 3.5% -5.0% -14.7% -3.8% -10.7% 14.7% 23.1% 13.4% 19.6% 6.6% 12.2%

-6.2% 5.1% -9.0% -12.6% -2.6% -14.9% 19.0% 26.0% 13.9% 20.8% 6.9% 10.5%



Saratoga


115 318 346 237 227 287 275 378 328 290 327 297 291

$ $ $ $ $ $ $ $ $ $ $ $ $

1,692,050 1,707,970 1,852,780 1,803,537 1,557,682 1,646,386 1,634,822 1,770,940 1,984,635 2,233,380 2,447,895 2,500,330 2,678,360

$ $ $ $ $ $ $ $ $ $ $ $ $

1,505,000 1,550,000 1,650,000 1,650,000 1,400,000 1,501,500 1,480,000 1,639,000 1,821,500 2,017,500 2,300,000 2,351,000 2,500,000

SP/LP

98.4% 98.5% 99.3% 97.4% 94.1% 96.3% 96.2% 98.2% 99.8% 105.0% 104.0% 102.2% 104.8%

32 32 44 39 97 66 69 66 42 35 33 37 29

176.5% 8.8% -31.5% -4.2% 26.4% -4.2% 37.5% -13.2% -11.6% 12.8% -9.2% -2.0%

0.9% 8.5% -2.7% -13.6% 5.7% -0.7% 8.3% 12.1% 12.5% 9.6% 2.1% 7.1%

Thousands


3.0% 6.5% 0.0% -15.2% 7.3% -1.4% 10.7% 11.1% 10.8% 14.0% 2.2% 6.3%

Saratoga Homes - Prices & Sales $3,100

400

$2,100

300

$1,100

200

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Median

Average

Sales

100


Saratoga Condos - Prices & Sales

Thousands



$1,600

70

$1,100

50

$600

30

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

Saratoga Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

31 43 47 44 18 34 27 44 59 37 39 48 43


$ 707,714 $ 713,671 $ 788,208 $ 742,982 $ 573,513 $ 640,895 $ 684,499 $ 723,646 $ 774,969 $ 820,010 $ 1,073,496 $ 1,021,720 $ 1,247,540

$ 630,000 $ 650,000 $ 644,000 $ 647,500 $ 572,000 $ 612,500 $ 660,000 $ 625,360 $ 685,000 $ 768,000 $ 1,050,000 $ 925,000 $ 1,160,000

SP/LP

98.9% 99.2% 99.1% 98.2% 95.5% 98.9% 96.3% 100.4% 102.4% 105.0% 104.0% 102.3% 105.5%

10



38.7% 9.3% -6.4% -59.1% 88.9% -20.6% 63.0% 34.1% -37.3% 5.4% 23.1% -10.4%

0.8% 10.4% -5.7% -22.8% 11.7% 6.8% 5.7% 7.1% 5.8% 30.9% -4.8% 22.1%

3.2% -0.9% 0.5% -11.7% 7.1% 7.8% -5.2% 9.5% 12.1% 36.7% -11.9% 25.4%



Sunnyvale


325 620 623 551 556 576 565 640 591 568 603 553 551

$ $ $ $ $ $ $ $ $ $ $ $ $

796,356 863,662 917,962 845,184 714,442 760,772 755,620 838,456 1,006,317 1,176,188 1,374,763 1,455,870 1,713,610

$ $ $ $ $ $ $ $ $ $ $ $ $

775,000 836,500 905,000 865,000 749,500 799,250 785,000 865,000 1,022,500 1,218,000 1,400,000 1,480,000 1,735,000

SP/LP

102.2% 101.3% 102.8% 99.7% 98.3% 100.0% 99.6% 103.9% 109.1% 110.0% 112.0% 106.8% 113.8%

19 22 23 34 61 46 53 29 16 16 16 17 12

90.8% 0.5% -11.6% 0.9% 3.6% -1.9% 13.3% -7.7% -3.9% 6.2% -8.3% -0.4%

8.5% 6.3% -7.9% -15.5% 6.5% -0.7% 11.0% 20.0% 16.9% 16.9% 5.9% 17.7%

$2,100

Sereno Group Real Estate 214 Los Gatos - Saratoga Rd. Los Gatos, CA 95030 (408) 406-9533 [email protected] http://www.KimRichmanTeam.com Cal BRE #01076556

700

$1,600 Thousands

KIM RICHMAN

7.9% 8.2% -4.4% -13.4% 6.6% -1.8% 10.2% 18.2% 19.1% 14.9% 5.7% 17.2%

Sunnyvale Homes - Prices & Sales

500

$1,100 300

$600 $100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

100


Sunnyvale Condos - Prices & Sales $1,600

500 400

$1,100 Thousands



300 $600

200

$100

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Median

Average

Sales

Sunnyvale Condominiums Year Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

167 315 314 189 254 209 276 315 413 345 299 305 313


$ 557,733 $ 563,705 $ 579,496 $ 545,636 $ 486,484 $ 477,628 $ 447,885 $ 506,403 $ 631,692 $ 714,757 $ 859,280 $ 905,182 $ 1,067,220

$ 545,000 $ 555,000 $ 573,975 $ 550,000 $ 495,000 $ 475,000 $ 457,500 $ 518,000 $ 640,000 $ 745,000 $ 860,000 $ 910,000 $ 1,086,100

SP/LP

101.7% 100.1% 100.1% 98.1% 98.3% 98.5% 99.9% 102.5% 105.9% 106.0% 109.0% 106.4% 111.6%

100



88.6% -0.3% -39.8% 34.4% -17.7% 32.1% 14.1% 31.1% -16.5% -13.3% 2.0% 2.6%

1.1% 2.8% -5.8% -10.8% -1.8% -6.2% 13.1% 24.7% 13.1% 20.2% 5.3% 17.9%

1.8% 3.4% -4.2% -10.0% -4.0% -3.7% 13.2% 23.6% 16.4% 15.4% 5.8% 19.4%

