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 have been experiencing dreadfully low inventory of homes for sale, and 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 8.9% year-over-year to $1,035,000 from $950,000.
  • The average home sales price rose by 5.5% year-over-year to $1,052,440 from $997,124.
  • Home sales fell by 3.3% year-over-year to 59 from 61.
  • Active listings rose 14.0% year-over-year to 122 from 107.
  • Sales price vs. list price ratio fell by 4.8% year-over-year to 106.4% from 111.8%.
  • The average days on market fell by 15.2% year-over-year to 11 from 13.

Compared To Last Month

  • Median home prices slipped by 3.7% to $1,035,000 from $1,075,000.
  • The average home sales price fell by 5% to $1,052,440 from $1,107,360.
  • Home sales down by 0.0% to 59 from 59.
  • Active listings increased 10.9% to 122 from 110.
  • Sales price vs. list price ratio increased by 0.7% to 106.4% from 105.7%.
  • The average days on market dropped by 29.6% to 11 from 16.

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. Nevertheless, there are some clear trends. The market inventory is on the rise since December. While the condo market is usually slower than housing, the sales to list price aroud 105% and the very short average days on market, near 10 days for months, show that these properties are competing in a sellers market that is just as hot as the current 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 48.9% year-over-year to $700,000 from $470,000.
  • The average home sales price rose by 35.2% year-over-year to $719,286 from $532,115.
  • Home sales fell by 46.2% year-over-year to 7 from 13.
  • Active listings fell 0.0% year-over-year to 19 from 19.
  • Sales price vs. list price ratio fell by 1.4% year-over-year to 105.8% from 107.3%.
  • The average days on market rose by 3.9% year-over-year to 10 from 10.

Compared To Last Month

  • Median home prices improved by 10.1% to $700,000 from $635,750.
  • The average home sales price rose by 6.4% to $719,286 from $676,179.
  • Home sales down by 50% to 7 from 14.
  • Active listings increased 35.7% to 19 from 14.
  • Sales price vs. list price ratio increased by 0.2% to 105.8% from 105.6%.
  • The average days on market dropped by 6% to 10 from 11.

 

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: 1,497 sq ft
    Lot size: 6,272 sqft
  2. 4 beds, 2 full baths
    Home size: 2,050 sq ft
    Lot size: 6,185 sqft
  3. 3 beds, 2 full baths
    Home size: 1,356 sq ft
    Lot size: 5,793 sqft
  4. 4 beds, 2 full baths
    Home size: 1,248 sq ft
    Lot size: 6,054 sqft
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,030 sq ft
    Lot size: 7,710 sqft

See all Real estate and homes in 95118 zip code.
(all data current as of 7/1/2016)

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

  1. 3 beds, 2 full baths
    Home size: 1,497 sq ft
    Lot size: 6,272 sqft
  2. 4 beds, 2 full baths
    Home size: 2,050 sq ft
    Lot size: 6,185 sqft
  3. 3 beds, 2 full baths
    Home size: 1,356 sq ft
    Lot size: 5,793 sqft
  4. 4 beds, 2 full baths
    Home size: 1,248 sq ft
    Lot size: 6,054 sqft
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,030 sq ft
    Lot size: 7,710 sqft

See all Real estate and homes in 95118 zip code.
(all data current as of 7/1/2016)

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. 5 beds, 3 full baths
    Home size: 3,384 sq ft
    Lot size: 11,586 sqft
  2. 3 beds, 2 full baths
    Home size: 1,643 sq ft
    Lot size: 6,664 sqft
  3. 3 beds, 1 full, 1 half baths
    Home size: 1,330 sq ft
    Lot size: 5,009 sqft
  4. 5 beds, 3 full baths
    Home size: 2,566 sq ft
    Lot size: 11,238 sqft
  5. 3 beds, 2 full baths
    Home size: 1,554 sq ft
    Lot size: 6,011 sqft

See all Real estate and homes in 95124 zip code.
(all data current as of 7/1/2016)

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

  1. 3 beds, 2 full baths
    Home size: 1,497 sq ft
    Lot size: 6,272 sqft
  2. 4 beds, 2 full baths
    Home size: 2,050 sq ft
    Lot size: 6,185 sqft
  3. 3 beds, 2 full baths
    Home size: 1,356 sq ft
    Lot size: 5,793 sqft
  4. 4 beds, 2 full baths
    Home size: 1,248 sq ft
    Lot size: 6,054 sqft
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,030 sq ft
    Lot size: 7,710 sqft

See all Real estate and homes in 95118 zip code.
(all data current as of 7/1/2016)

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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