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. 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!

Cambrian area sales at a glance:

Year-Over-Year

  • Median home prices increased by 4.8% year-over-year to $975,000 from $930,000.
  • The average home sales price rose by 5.8% year-over-year to $1,022,910 from $966,594.
  • Home sales rose by 23.3% year-over-year to 53 from 43.
  • Active listings rose 17.5% year-over-year to 94 from 80.
  • Sales price vs. list price ratio fell by 4.7% year-over-year to 105.7% from 111.0%.
  • The average days on market rose by 35.0% year-over-year to 17 from 13.

Compared To Last Month

  • Median home prices slipped by 3.2% to $975,000 from $1,007,500.
  • The average home sales price fell by 4.7% to $1,022,910 from $1,073,590.
  • Home sales up by 140.9% to 53 from 22.
  • Active listings increased 34.3% to 94 from 70.
  • Sales price vs. list price ratio dropped by 0.8% to 105.7% from 106.6%.
  • The average days on market increased by 45.0% to 17 from 12.

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.

 Please see the whole Cambrian Real Estate Report for charts, stats and more.

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 are not a large enough group to be truly representative of market values. Plus, December usually sees a significant drop in activity. Nevertheless, there are some clear trends. The market inventory is on the rise since December, but still only shows eight active listings and nine sold. While it’s still a clear sellers market, it’s usually a little slower than others, though sales coming in above list price and a very short average days on market (just 10 days!) means that at least some properties are competing at the same level as the housing market.

The Real Estate Report for condo sales

Cambrian townhomes and condominium real estate market stats:

Year-Over-Year

  • Median home prices increased by 2.1% year-over-year to $541,000 from $530,000.
  • The average home sales price rose by 20.2% year-over-year to $606,600 from $504,636.
  • Home sales fell by 63.6% year-over-year to 4 from 11.
  • Active listings fell 18.8% year-over-year to 13 from 16.
  • Sales price vs. list price ratio fell by 1.5% year-over-year to 105.9% from 107.6%.
  • The average days on market fell by 42.6% year-over-year to 9 from 15.

Compared To Last Month

  • Median home prices improved by 13.9% to $541,000 from $475,000.
  • The average home sales price rose by 16.8% to $606,600 from $519,222.
  • Home sales down by 55.6% to 4 from 9.
  • Active listings increased 8.3% to 13 from 12.
  • Sales price vs. list price ratio dropped by 0.8% to 105.9% from 106.7%.
  • The average days on market dropped by 18.6% to 9 from 10.

 

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.  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. 3 beds, 2 full baths
    Home size: 1,900 sq ft
    Lot size: 7,361 sqft
  2. 4 beds, 2 full, 1 half baths
    Home size: 2,362 sq ft
    Lot size: 4,268 sqft
  3. 3 beds, 2 full baths
    Home size: 1,504 sq ft
    Lot size: 7,840 sqft
  4. 3 beds, 2 full baths
    Home size: 1,475 sq ft
    Lot size: 6,185 sqft
  5. 4 beds, 2 full baths
    Home size: 1,569 sq ft
    Lot size: 6,316 sqft

See all Silicon Valley Real Estate for Sale.
(all data current as of 5/3/2016)

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

  1. 3 beds, 2 full baths
    Home size: 1,900 sq ft
    Lot size: 7,361 sqft
  2. 4 beds, 2 full, 1 half baths
    Home size: 2,362 sq ft
    Lot size: 4,268 sqft
  3. 3 beds, 2 full baths
    Home size: 1,504 sq ft
    Lot size: 7,840 sqft
  4. 3 beds, 2 full baths
    Home size: 1,475 sq ft
    Lot size: 6,185 sqft
  5. 4 beds, 2 full baths
    Home size: 1,569 sq ft
    Lot size: 6,316 sqft

See all Silicon Valley Real Estate for Sale.
(all data current as of 5/3/2016)

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. 3 beds, 2 full baths
    Home size: 1,206 sq ft
    Lot size: 8,058 sqft
  2. 4 beds, 3 full baths
    Home size: 3,500 sq ft
    Lot size: 14,921 sqft
  3. 3 beds, 2 full baths
    Home size: 1,547 sq ft
    Lot size: 7,884 sqft
  4. 4 beds, 2 full, 1 half baths
    Home size: 2,396 sq ft
    Lot size: 7,492 sqft
  5. 3 beds, 1 full bath
    Home size: 1,047 sq ft
    Lot size: 9,626 sqft

See all Silicon Valley Real Estate for Sale.
(all data current as of 5/3/2016)

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

  1. 3 beds, 2 full baths
    Home size: 1,900 sq ft
    Lot size: 7,361 sqft
  2. 4 beds, 2 full, 1 half baths
    Home size: 2,362 sq ft
    Lot size: 4,268 sqft
  3. 3 beds, 2 full baths
    Home size: 1,504 sq ft
    Lot size: 7,840 sqft
  4. 3 beds, 2 full baths
    Home size: 1,475 sq ft
    Lot size: 6,185 sqft
  5. 4 beds, 2 full baths
    Home size: 1,569 sq ft
    Lot size: 6,316 sqft

See all Silicon Valley Real Estate for Sale.
(all data current as of 5/3/2016)

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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