Home Buying in Evergreen>Question Details

Shultu, Home Buyer in San Jose, CA

What is the overall picture of home prices in Evergreen Area? Are the houses still getting multiple offers and are they going beyond the asking price?

Asked by Shultu, San Jose, CA Thu Nov 7, 2013

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Hi Shultu:

There's both good and bad news on the horizon for buyers who want to live in the Evergreen area.

First, the good news, while prices are still rising, they're not rising AS MUCH as they did in the summer time. Although that still doesn't mean that this is a "buyer's market" or that homes are selling for less than the listing price in the most desirable areas of Evergreen, it does mean that the days of sellers receiving as much as 40 percent over the asking price are gone. We are still seeing sales prices that are "over" the list prices, but I also see that prices have adjusted in all areas to more correctly the market so that pricing is much closer to what buyers are willing to pay.

Another tiny bit of good news, the number of buyers around this time of year are slightly less than during the peak home buying season (from March to August). So while I was one of 35 offers on a home in Evergreen back in June, the number of offers has dwindled to the low double digits on the best homes and to under 10 for other homes. While that means there is still competition, the smaller number of buyers is less likely to engender the all out bidding wars that seemed to plague the market several months ago.

Now the bad news, I know so many are predicting that the home prices are going to drop drastically in 2014. So far, the indications from the housing industry are that it is unlikely to come true. We still have a very tight housing market with little new inventory from which to draw as replacement housing for those moving up or down in the market. This means that we are likely to--even with higher interest rates--see pretty stiff competition for homes in the Spring.

So if you're interested in buying, I would not necessarily stop looking just because its the holidays. In fact, keep looking and use your Realtor to help you find a great home!

Good luck!
Grace Morioka
Allison James Estates & Homes
Discount Agent with 50 percent Rebates to Buyers and Low Cost Listings for Sellers!
Tel (408) 426-1616
1 vote Thank Flag Link Thu Nov 7, 2013
Below are the stats for Evergreen, the "Sales price to list price" shows average sales that sold at x percent of list, 100% would be list price. The Evergreen ratio for single family homes is currently 99.8%. The data also shows average days to sell, higher is better for buyers.

This is average -- better homes are still selling over list and getting multiple offers. Especially when a realtor lists low to attract multiple offers (a practice statistics shows does NOT net more for the seller).

Month Sale Price to List Price Ratio Days to Sell, Average
Nov 2012 100.9% 41
Dec 2012 100.5% 81
Jan 2013 100.7% 59
Feb 2013 101.8% 27
Mar 2013 102.9% 22
Apr 2013 104.7% 22
May 2013 102.7% 21
Jun 2013 102.9% 22
Jul 2013 102.1% 37
Aug 2013 101.2% 35
Sep 2013 101.6% 34
Oct 2013 99.8% 49
Flag Thu Nov 7, 2013
One of the things about the local real estate market that we see now is that homes in areas where the average home price is below $700k, the average home values still have not risen to the peaks they had in 2007. In areas where the average price is over $700k the values on average have gone well over their 2007 peaks.

The average Evergreen home price is just about $900k but the average price has not reached the 2007 peak. If you look at

Scroll down to the third plot you will see that Evergreen neighborhood homes on average began selling over list price in 2012 but the trend wasn't all that strong. My neighborhood plots are done by quarter. The fourth quarter of 2013 only has data for October. which shows that most Evergreen homes have sold under list price and that on average they have sold not quite 2% under list price.

If you want to see details of Evergreen home sales you can view the information for zip code 95138 at

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
Web Reference: http://julianalee.com
0 votes Thank Flag Link Thu Nov 7, 2013
Just sold at 95148 is the zip I wanted to post:
Flag Thu Nov 7, 2013
It is going to depend on your price point, the location and condition of home. Working with your buyer's agent is going to give you the best resource to know how your expectations compare to the market activity.
0 votes Thank Flag Link Thu Nov 7, 2013
Hi Shultu,

I did a search of all homes sold in the Evergreen area from the last 6 months. If you want a copy of the result send me an email (rpablaza@comcast.net).

0 votes Thank Flag Link Thu Nov 7, 2013
The MLS statistic show Evergreen area currently have 29 new listings around $200-400K price range, 186 new listings around $400-600K price range and 167 new listings around $ 600 ~800K price range, the average day on market since Oct/13 is around 40 days, it would depends on the house condition and price range to determine if the house can get the multiple offers.

We can discuss about more detail information if you can send me your contact information to my mail address - chsieh@interorealestate.com

Christine Hsieh


DRE# 01927442

Intero Real Estate Service

Direct Phone - (408)- 771 - 4400

Office- (408)- 754 - 9568

FAX - ( 408)- 978 - 3699

Email - chsieh@interorealestate.com
0 votes Thank Flag Link Thu Nov 7, 2013
Yes the market is still a sellers market.

Alex Greer
Loan Officer
NMLS #1056079

0 votes Thank Flag Link Thu Nov 7, 2013
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