The Cambrian Park Real Estate Market Update
Today, in addition to the regular Cambrian Park real estate stats, we’re going to drill down to the months of inventory by zip code and school district. The numbers can be different based on how the statistics are gathered. For our purposes today, I’ll be using both “Area 14″, the MLS defined area for Cambrian, plus an overlay of the 95124 and 95118 zip codes as well as the school districts.
For the figures below, HSD = High School District (473 = Campbell Union HSD and 482 = San Jose Unified School District), Active = for sale, not yet pending, Sold/30 = sold and closed escrow in last 30 days and MOI = months of inventory.
First, if we just consider the 95124 and 95118 zip codes within Cambrian, what’s hottest? (The lower the months of inventory, the more of a seller’s market it is.)
| HSD | Zip | Active | Sold/30 | MOI |
| both | both | 54 | 56 | 0.96 |
| both | 95124 | 25 | 29 | 0.86 |
| both | 95118 | 25 | 24 | 1.04 |
Overall, there’s less than one month of inventory in “area 14″ or Cambrian. But tease it out a little and it’s evident that 95124 is a little more in demand than 95118 generally. But that’s not the whole story. What if we consider just the high school districts, and omit the zip codes? Let’s see:
| HSD | Zip | Active | Sold/30 | MOI |
| 473 | both | 35 | 45 | 0.78 |
| 482 | both | 19 | 11 | 1.73 |
Here the disparity is even greater, hinting that perhaps the biggest driver in the Cambrian market is schools.
Now let’s factor in both zip codes and public schools to see if it’s only about the schools (95118 is a little less expensive than 95124). Disclaimer: very few 95124 houses are in the San Jose Unified School District.
| HSD | Zip | Active | Sold/30 | MOI |
| 473 | 95118 | 7 | 14 | 0.5 |
| 473 | 95124 | 24 | 28 | 0.86 |
| 482 | 95118 | 18 | 10 | 1.8 |
| 482 | 95124 | 1 | 1 | 1 |
Properties in the 95118 zip code but with the Campbell HSD are flying off the market at a half a month of inventory! We can see plainly that the best selling homes have the Campbell Union HSD but are in 95118 – a more affordable part of Cambrian. This suggests that the hottest part of the Cambrian real estate market is that with the lowest price for the better schools. In other words, it’s “the most bang for your buck” when it comes to education.
My Cambrian Park Real Estate Report was just published with the updated numbers from the closed sales in May for this part of San Jose (95124 and 95118 with a little of 95008 too). Please click on the link to see much more information there.
| TRENDS AT A GLANCE | MAY 2013 | PREVIOUS MONTH | YEAR-OVER YEAR | ||
|---|---|---|---|---|---|
| Median Home Price | +1.4% | $750,000 | $740,000 | +22.6% | $611,500 |
| Average Sales Price | +4.3% | $787,804 | $755,655 | +22.6% | $642,786 |
| No. of Homes Sold | -5.6% | 67 | 71 | -9.5% | 74 |
| Pending Properties | +2.5% | 82 | 80 | -11.8% | 93 |
| Foreclosures Sold | -100.0% | 0 | 1 | -100.0% | 8 |
| Short Sales Sold | +66.7% | 5 | 3 | -44.4% | 9 |
| Active Listings | +81.3% | 58 | 32 | -7.9% | 63 |
| Active Foreclosures | 0.0% | 2 | 2 | 0.0% | 2 |
| Active Short Sales | N/A | 2 | 0 | -81.8% | 11 |
| Sales Price vs. List Price | +0.4% | 107.0% | 106.6% | +5.5% | 101.4% |
| Average Days on Market | -19.6% | 16 | 20 | -55.1% | 36 |
The year over year median and average sales prices in Cambrian are up around 25%. Inventory has fallen a little after a slight rise the month before, and the sale price to list price ratio has jumped up again. Generally speaking it is a great time to sell a Cambrian home. Tougher is buying one, as many homes are seeing multiple offers.
The townhouse and condo real estate market in San Jose’s Cambrian area – this is one of the hottest segments of the Silicon Valley real estate market. Last month saw a little cooling here as elsewhere in the county, but it’s still a challenge for buyers to purchase – check out the sale price to list price ratio!
| TRENDS AT A GLANCE | MAY 2013 | PREVIOUS MONTH | YEAR-OVER YEAR | ||
|---|---|---|---|---|---|
| Median Home Price | +1.0% | $500,000 | $495,000 | +35.1% | $370,000 |
| Average Sales Price | -5.4% | $479,087 | $506,273 | +39.9% | $342,474 |
| No. of Homes Sold | -18.2% | 9 | 11 | -52.6% | 19 |
| Pending Properties | +26.7% | 19 | 15 | -32.1% | 28 |
| Foreclosures Sold | N/A | 0 | 0 | -100.0% | 3 |
| Short Sales Sold | -100.0% | 0 | 1 | -100.0% | 6 |
| Active Listings | +85.7% | 13 | 7 | +30.0% | 10 |
| Active Foreclosures | N/A | 0 | 0 | -100.0% | 2 |
| Active Short Sales | -100.0% | 0 | 2 | -100.0% | 3 |
| Sales Price vs. List Price | -0.7% | 107.6% | 108.3% | +3.5% | 103.9% |
| Average Days on Market | +16.6% | 14 | 12 | -69.1% | 45 |
The Cambrian condo market is up steeply from last year with no signs of letting up anytime soon.
Please see the Cambrian Condominium & Townhouse Real Estate Report for all of the numbers in this area and the rest of Santa Clara County!
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:
Higher priced houses in 95118 too a sharp uptick in early summer, but have settled back down to be in line with appreciation with the other quartiles in this zip code.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, 95118:
Average days on Market in San Jose’s Cambrian area:
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!
Showing properties
1 - 5 of 49.
See more Real estate in the 95124 zip code.
Listing information deemed reliable but not guaranteed. Read full disclaimer. Showing properties
1 - 5 of 25.
See more Real estate in the 95118 zip code.
Listing information deemed reliable but not guaranteed. Read full disclaimer.
(all data current as of
6/20/2013)
(all data current as of
6/20/2013)
Houses for sale in the 95118 part of Cambrian
Cambrian Park Houses for Sale in 95124
Tags: Absorption Rate, buy a home, Cambrian, Cambrian Park (SJ), Cambrian Park Real Estate, Cambrian real estate, condos, days of inventory, days on the market, homes, homes for sale, houses, market, market conditions, Market Reports, Real estate, sales, san jose, Santa Clara County, sell a home, silicon valley, solds, Townhouses, trends
November 11th, 2011 at 8:27 am
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