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 34.4% year-over-year to $1,075,000 from $800,000.
  • The average home sales price rose by 41.9% year-over-year to $1,130,860 from $797,158.
  • Home sales rose by 31.6% year-over-year to 25 from 19.
  • Active listings rose 17.1% year-over-year to 48 from 41.
  • Sales price vs. list price ratio fell by 2.4% year-over-year to 103.7% from 106.3%.
  • The average days on market fell by 25.7% year-over-year to 21 from 28.

Compared To Last Month

  • Median home prices improved by 12.0% to $1,075,000 from $960,000.
  • The average home sales price rose by 15.8% to $1,130,860 from $976,394.
  • Home sales down by 61.5% to 25 from 65.
  • Active listings increased 26.3% to 48 from 38.
  • Sales price vs. list price ratio dropped by 1.3% to 103.7% from 105.1%.
  • The average days on market increased by 4.2% to 21 from 20.

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 up since December, but still only shows three active listings and four sold. While it’s still a clear sellers market, it’s a little slower than others, with sales coming in at list price on average, and the average days on market at just over a month.

The Real Estate Report for condo sales

Cambrian townhomes and condominium real estate market stats:

Year-Over-Year

  • Median home prices increased by 7.4% year-over-year to $397,500 from $370,000.
  • The average home sales price dropped by 1.2% year-over-year to $428,125 from $433,429.
  • Home sales fell by 42.9% year-over-year to 4 from 7.
  • Active listings fell 50% year-over-year to 9 from 18.
  • Sales price vs. list price ratio fell by 5.5% year-over-year to 99.1% from 104.9%.
  • The average days on market rose by 46.9% year-over-year to 35 from 24.

Compared To Last Month

  • Median home prices slipped by 22.1% to $397,500 from $510,000.
  • The average home sales price fell by 27.5% to $428,125 from $590,286.
  • Home sales down by 42.9% to 4 from 7.
  • Active listings increased 28.6% to 9 from 7.
  • Sales price vs. list price ratio dropped by 4.9% to 99.1% from 104.2%.
  • The average days on market increased by 33.4% to 35 from 26.

 

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. 4 beds, 1 full bath
    Home size: 1,256 sq ft
    Lot size: 5,052 sqft
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,750 sq ft
    Lot size: 6,882 sqft
  3. 3 beds, 2 full baths
    Home size: 1,113 sq ft
    Lot size: 6,316 sqft
  4. 3 beds, 2 full baths
    Home size: 1,346 sq ft
    Lot size: 6,708 sqft
  5. 3 beds, 2 full baths
    Home size: 1,596 sq ft
    Lot size: 6,098 sqft

See all Real estate in the 95118 zip code.
(all data current as of 2/9/2016)

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

  1. 4 beds, 1 full bath
    Home size: 1,256 sq ft
    Lot size: 5,052 sqft
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,750 sq ft
    Lot size: 6,882 sqft
  3. 3 beds, 2 full baths
    Home size: 1,113 sq ft
    Lot size: 6,316 sqft
  4. 3 beds, 2 full baths
    Home size: 1,346 sq ft
    Lot size: 6,708 sqft
  5. 3 beds, 2 full baths
    Home size: 1,596 sq ft
    Lot size: 6,098 sqft

See all Real estate in the 95118 zip code.
(all data current as of 2/9/2016)

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. 4 beds, 2 full, 1 half baths
    Home size: 1,686 sq ft
    Lot size: 7,100 sqft
  2. 5 beds, 3 full, 1 half baths
    Home size: 2,566 sq ft
    Lot size: 4,791 sqft
  3. 3 beds, 2 full baths
    Home size: 1,504 sq ft
    Lot size: 7,492 sqft
  4. 4 beds, 2 full, 1 half baths
    Home size: 2,642 sq ft
    Lot size: 6,374 sqft
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,161 sq ft
    Lot size: 6,011 sqft

See all Real estate in the 95124 zip code.
(all data current as of 2/9/2016)

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

  1. 4 beds, 1 full bath
    Home size: 1,256 sq ft
    Lot size: 5,052 sqft
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,750 sq ft
    Lot size: 6,882 sqft
  3. 3 beds, 2 full baths
    Home size: 1,113 sq ft
    Lot size: 6,316 sqft
  4. 3 beds, 2 full baths
    Home size: 1,346 sq ft
    Lot size: 6,708 sqft
  5. 3 beds, 2 full baths
    Home size: 1,596 sq ft
    Lot size: 6,098 sqft

See all Real estate in the 95118 zip code.
(all data current as of 2/9/2016)

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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