The Cambrian Park Real Estate Market Update
My Cambrian area of San Jose Real Estate Report was recently published with the updated numbers from the closed sales last month for this part of San Jose (95124 and 95118 with a little of 95008 too). Please click on the link above to see much more information there.
In Cambrian, we are experiencing dreadfully low inventory of homes for sale. Buyers aren’t backing off as much as usual for this time of year – I believe because there is just a whole lot of pent up demand from nearly two years of a deep seller’s market. Sales are up and inventory is down. What does that mean? Sellers, if you have a problem home, or one not updated or well maintained, this is the time to sell it – buyers have little to choose from so are purchasing properties that need more work than they would bother with in a more balanced market.
Be sure to read to the end to see the live Altos charts too – they are near the end of the article so please keep reading into the next page!
|Trends at a Glance||NOV 2014||PREVIOUS MONTH||YEAR-OVER YEAR|
|Median Home Price||+0.5%||$855,000||$851,000||+14.8%||$745,000|
|Average Sales Price||+2.6%||$900,357||$877,448||+16.9%||$770,092|
|No. of Homes Sold||-48.8%||43||84||-25.9%||58|
|Short Sales Sold||N/A||0||0||-100.0%||1|
|Active Short Sales||N/A||0||0||-100.0%||1|
|Sales Price vs. List Price||+2.0%||105.6%||103.5%||+2.4%||103.1%|
|Average Days on Market||+0.1%||19||19||-24.5%||25|
- Median home prices increased by 13.5% year-over-year to $851,000 from $750,000.
- The average home sales price rose by 12.2% year-over-year to $877,448 from $782,008.
- Home sales rose by 33.3% year-over-year to 84 from 63.
- Active listings fell 39.3% year-over-year to 71 from 117.
- Sales price vs. list price ratio fell by 0.0% year-over-year to 103.5% from 103.5%.
- The average days on market fell by 20% year-over-year to 19 from 23.
Compared To Last Month
- Median home prices improved by 1.9% to $851,000 from $835,000.
- The average home sales price rose by 1.8% to $877,448 from $862,175.
- Home sales up by 50.0% to 84 from 56.
- Active listings dropped 39.3% to 71 from 117.
- Sales price vs. list price ratio increased by 0.5% to 103.5% from 103.0%.
- The average days on market dropped by 12.8% to 19 from 21.
The condo and townhouse real estate market for San Jose 95124 & 95118
|Trends at a Glance||OCT 2014||PREVIOUS MONTH||YEAR-OVER YEAR|
|Median Home Price||+3.0%||$450,000||$437,000||-1.3%||$456,000|
|Average Sales Price||+2.1%||$497,273||$487,154||+5.2%||$472,567|
|No. of Homes Sold||-15.4%||11||13||-26.7%||15|
|Short Sales Sold||N/A||0||0||N/A||0|
|Active Short Sales||N/A||0||0||-100.0%||2|
|Sales Price vs. List Price||-0.3%||101.2%||101.5%||+0.2%||101.0%|
|Average Days on Market||+23.9%||31||25||+57.9%||20|
- Median home prices fell by 1.3% year-over-year to $450,000 from $456,000.
- The average home sales price rose by 5.2% year-over-year to $497,273 from $472,567.
- Home sales fell by 26.7% year-over-year to 11 from 15.
- Active listings fell 43.6% year-over-year to 22 from 39.
- Sales price vs. list price ratio rose by 0.2% year-over-year to 101.2% from 101.0%.
- The average days on market rose by 57.9% year-over-year to 31 from 20.
Compared To Last Month
- Median home prices improved by 3.0% to $450,000 from $437,000.
- The average home sales price rose by 2.1% to $497,273 from $487,154.
- Home sales down by 15.4% to 11 from 13.
- Active listings increased 10.0% to 22 from 20.
- Sales price vs. list price ratio dropped by 0.3% to 101.2% from 101.5%.
- The average days on market increased by 23.9% to 31 from 25.
Now let’s work with Altos Research’s graphs and get a feel for the Cambrian realty market in “real time”. These use list prices, whereas my REReport uses sold data.First, the statistics by quartile for houses in San Jose 95118. A quick note: most of 95118 has San Jose Unified Schools, while 95124 has Cambrian and Union schools, which are normally preferred.
Next, the stats and trends by price quartile for houses in San Jose 95124: In 95124 we didn’t see the big departure from growth as seen in the rest of the zip as we saw in 95118 for early summer. But we do see very consistently rising prices throughout the area, with the higher priced homes appearing to rise the most.Median list price of homes for sale in 95124 and 95118 (all quartiles combined) :
As this graph indicates, homes in 95124 tend to sell for a bit more than those in 95118. Part is probably due to the fact that 95124 is in the Union and Cambrian School Districts, which many prefer to San Jose Unified (though part of 95118 is not in SJUSD). Part of it may have to do with some of the homes being on the Los Gatos border, which is highly desirable. And much of 95124 is a better commute location, with faster access to freeways.Inventory in Cambrian area of San Jose 95124,
Want to buy or sell in Cambrian Park? Please call or email me – let’s talk!Want more info on your neighborhood, your house, or your target home to buy? Please call me!
Browse real estate listings of Cambrian & Cambrian Park homes for sale San Jose 95118:
[idx-listings zip=”95118″ propertytypes=”275″ orderby=”DateAdded” orderdir=”DESC”][idx-listings zip=”95118″ propertytypes=”275″ orderby=”DateAdded” orderdir=”DESC”]
Find a Cambrian home: real estate listings of Cambrian & Cambrian Park homes for sale in San Jose 95124:
[idx-listings zip=”95124″ propertytypes=”275″ orderby=”DateAdded” orderdir=”DESC”][idx-listings zip=”95118″ propertytypes=”275″ orderby=”DateAdded” orderdir=”DESC”]
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