HousingMarket UpdatesPostsTips for Home Buyers & Sellers May 17, 2021

Public Schools and Property Values – This Month’s Winners!

Even if you don’t have kids in the public school, the local public schools’ ratings can affect your home’s value.  It’s one of the factors to look at when you’re considering purchasing a home or selling your home.  Make sure to compare apples to apples, and check the school ratings as they may offer an explanation as to why a similar home a few blocks away seemed to sell for much more (or much less).

Take a look at the charts below for April 2021’s single family home sales in Santa Clara County, by school districts.

A couple key takeaways from these charts is that the median days on market (“DOM”, how many days before a home is sold and under contract) is extremely low across all of Santa Clara County.  With the exception of the districts that serve the Los Gatos mountain area, homes are being sold, on average, in ONE week.  Here’s the other kicker – they are selling 10-15% OVER the list price!  See sales price to list price ratio in the tables below for more detail (SP/LP).

Which district wins when it comes to the highest median sale price in April?  For elementary schools, the winner is Los Altos Elementary, with a median sale price of $3.738 million.  For high schools, Los Altos is edged out by Palo Alto Unified, coming in at a median sales price of $3.475 million.  Prices continue to climb, despite COVID, mortgage forbearance, and the continued news about uncertainties in our economy.  Check out my other blog posts for more details on housing and county-wide home sales since April 2020.

School ratings can be found at a number of websites like GreatSchools.org.  You can also see school ratings and district-assigned schools by property address on popular sites like Trulia.com.  These aren’t always 100% accurate, and even if a property is listed for sale with the detail school information, it’s important to double check with the district just in case boundary lines have changed or enrollment is at capacity.

Photo courtesy of Campbell Union High School District, Branham High School