The Cambrian Park Real Estate Market Update

Bel Estos Drive near Carlton and Rosswood in San Jose's Cambrian areaMy 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 this district of San Jose, 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.   Month to month things are cooling down slightly (average and median price, plus sale price to list price ratio), but comparing year-over year stats tells us sales are up.  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 MAR 2015 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price +10.3% $930,000 $843,188 +12.0% $830,000
Average Sales Price +8.0% $973,916 $901,770 +17.9% $826,006
No. of Homes Sold +57.7% 41 26 -6.8% 44
Pending Properties +21.2% 40 33 -27.3% 55
Foreclosures Sold N/A 0 0 N/A 0
Short Sales Sold N/A 0 0 -100.0% 1
Active Listings +50.0% 30 20 -21.1% 38
Active Foreclosures 0.0% 1 1 N/A 0
Active Short Sales N/A 0 0 -100.0% 1
Sales Price vs. List Price +2.6% 111.0% 108.2% +4.2% 106.5%
Average Days on Market -28.8% 11 16 -8.7% 13
Cambrian Stats At A Glance

Year-Over-Year

  • Median home prices increased by 4.5% year-over-year to $899,000 from $860,000.
  • The average home sales price rose by 2.4% year-over-year to $922,873 from $901,522.
  • Home sales fell by 18.8% year-over-year to 52 from 64.
  • Active listings fell 24.8% year-over-year to 79 from 105.
  • Sales price vs. list price ratio rose by 1.7% year-over-year to 109.5% from 107.7%.
  • The average days on market fell by 31.3% year-over-year to 12 from 17.

Compared To Last Month

  • Median home prices slipped by 3.3% to $899,000 from $930,000.
  • The average home sales price fell by 5.2% to $922,873 from $973,916.
  • Home sales up by 26.8% to 52 from 41.
  • Active listings increased 12.9% to 79 from 70.
  • Sales price vs. list price ratio dropped by 1.4% to 109.5% from 111.0%.
  • The average days on market increased by 5.2% to 12 from 11.
 Generally speaking it is still a hot seller’s market and great time to sell a Cambrian home.  We were expecting a breather, but aren’t getting it – particularly in the areas with Union and Cambrian Schools.

The condo and townhouse real estate market for San Jose 95124 & 95118

The townhouse and condo real estate market in San Jose’s Cambrian area – Lower inventory makes the market look unbalanced, but it may not be accurate; the tiny numbers in April are not a big enough group to be truly representative of market values. Homes are still flying off the market, with 9 homes sold and only 2 active.

Please see the Cambrian Condominium & Townhouse Real Estate Report for all of the numbers in this area and the rest of Santa Clara County!
Cambrian Stats At A Glance

Year-Over-Year

  • Median home prices fell by 3.6% year-over-year to $420,000 from $435,850.
  • The average home sales price rose by 9.1% year-over-year to $521,778 from $478,192.
  • Home sales fell by 59.1% year-over-year to 9 from 22.
  • Active listings fell 33.3% year-over-year to 16 from 24.
  • Sales price vs. list price ratio rose by 2.0% year-over-year to 105.1% from 103.1%.
  • The average days on market fell by 38% year-over-year to 11 from 18.

Compared To Last Month

  • Median home prices slipped by 20.8% to $420,000 from $530,000.
  • The average home sales price rose by 3.4% to $521,778 from $504,636.
  • Home sales down by 18.2% to 9 from 11.
  • Active listings increased 6.7% to 16 from 15.
  • Sales price vs. list price ratio dropped by 2.3% to 105.1% from 107.6%.
  • The average days on market dropped by 25.1% to 11 from 15.

 

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.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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) :

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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,

 

95118: Real Estate Market Chart by Altos Research www.altosresearch.com 

 

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:

  1. 4 beds, 2 full baths
    Home size: 1,363 sq ft
    Lot size: 5,227 sqft
  2. 4 beds, 2 full baths
    Home size: 1,594 sq ft
    Lot size: 9,452 sqft
  3. 3 beds, 2 full baths
    Home size: 1,080 sq ft
    Lot size: 6,838 sqft
  4. 4 beds, 2 full baths
    Home size: 1,790 sq ft
    Lot size: 6,577 sqft
  5. 4 beds, 2 full, 1 part baths
    Home size: 2,068 sq ft
    Lot size: 7,230 sqft

See all Real estate in the 95118 zip code.
(all data current as of 5/29/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

  1. 4 beds, 2 full baths
    Home size: 1,363 sq ft
    Lot size: 5,227 sqft
  2. 4 beds, 2 full baths
    Home size: 1,594 sq ft
    Lot size: 9,452 sqft
  3. 3 beds, 2 full baths
    Home size: 1,080 sq ft
    Lot size: 6,838 sqft
  4. 4 beds, 2 full baths
    Home size: 1,790 sq ft
    Lot size: 6,577 sqft
  5. 4 beds, 2 full, 1 part baths
    Home size: 2,068 sq ft
    Lot size: 7,230 sqft

See all Real estate in the 95118 zip code.
(all data current as of 5/29/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Find a Cambrian home: real estate listings of Cambrian & Cambrian Park homes for sale in San Jose 95124:

  1. 4 beds, 2 full, 1 part baths
    Home size: 2,368 sq ft
    Lot size: 6,011 sqft
  2. 3 beds, 2 full baths
    Home size: 1,780 sq ft
    Lot size: 7,100 sqft
  3. 4 beds, 2 full baths
    Home size: 1,508 sq ft
    Lot size: 8,145 sqft
  4. 3 beds, 2 full baths
    Home size: 1,248 sq ft
    Lot size: 5,900 sqft
  5. 4 beds, 2 full baths
    Home size: 1,575 sq ft
    Lot size: 6,141 sqft

See all Real estate in the 95124 zip code.
(all data current as of 5/29/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

  1. 4 beds, 2 full baths
    Home size: 1,363 sq ft
    Lot size: 5,227 sqft
  2. 4 beds, 2 full baths
    Home size: 1,594 sq ft
    Lot size: 9,452 sqft
  3. 3 beds, 2 full baths
    Home size: 1,080 sq ft
    Lot size: 6,838 sqft
  4. 4 beds, 2 full baths
    Home size: 1,790 sq ft
    Lot size: 6,577 sqft
  5. 4 beds, 2 full, 1 part baths
    Home size: 2,068 sq ft
    Lot size: 7,230 sqft

See all Real estate in the 95118 zip code.
(all data current as of 5/29/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


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