Santa Clara County: market area analysis

Single-family detached houses, town by town. Each town page shows what drives value there, the three regression programs' models, their adjustments and how the models compare.

The towns

Definitions

Best model

Of the three programs' models (GAM, MARS, elastic net), the one with the highest OOF R²: the model that values sales held out of its fit most accurately.

Median absolute percentage error* (MdAPE)

The middle value of the held-out sales' percentage differences between price and the model's value, ignoring sign. Lower is better.

OOF R²

The share of price variation explained when every sale is valued by a model fitted without that sale's group (pooled out-of-fold R²).

Town limit

The incorporated boundary of the town, from the US Census Bureau's 2024 TIGER/Line places. San Jose's sub-markets are the city's MLS areas, drawn on a 400 m grid inside the city limit.

R²

The share of the variation in sale prices that the model explains, on the sales it was fitted on (coefficient of determination). Higher is better. A model fits its own sales better than it values new ones, so R² runs above the held-out measures (CV R², OOF R²).

Typical sale

The middle (median) of each feature over the town's fitting sales, valued by the town's best model at the effective date. A typical sale, not a typical house of the town: houses that sell are often more updated than the houses that do not.

© 2026 William Bert Craytor · Valuation Engineer Research Labs. These pages show market area models: how features affect the value of single-family houses in each town, for adjustments and market analysis. They are not an appraisal, give no opinion of value for any property and are provided without warranty of any kind. Elevation from USGS 3DEP data (public domain).