How is the Campbell real estate market?How is the Campbell real estate market?  Campbell is in a fairly strong seller’s market, but like the rest of the county, is in a period of cooling off in terms of pricing, numbers of offers, and sale price to list price ratio. 

If you’re selling, perhaps a few months ago, you’d have gotten 6 or 8 offers on your well prepared, beautifully staged, and aggressively priced home for sale. Now, maybe it is 3 or 4 offers instead. The offers are often coming in with no contingencies, but there just aren’t as many.  The massive overbids are becoming a little less massive.

Part of this seems to be seasonal fluctuation. In my 25 years of selling homes in the Santa Clara Valley,  I have seen that in MOST years, late spring and early summer sees a flattening of the market, sometimes even a slight decline in pricing, after the peak months of January through April. Last year, that didn’t happen.

The other part may be “buyer fatigue”. Buyers have had enough with the spiraling-out-of-control prices and terms so strongly in the sellers’ favor. They are voting with their feet.

Further down in this article, we’ll utilize the graphs from Altos Research, which uses list prices, and check out the trends in pricing by quartile in this zip code (meaning 4 groups based on the pricing tier from least to most expensive). Campbell condominiums and townhomes will be considered as well. And finally, a list of homes for sale in Campbell will be found at the bottom of the post.

And now –  here are some quick stats, care of my RE Report for Campbell:

CAMPBELL real estate market trends and statistics

Still up year over year, but down month over month

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $1,400,000 (-3.4%) $1,450,000 $1,360,630 (+2.9%)
Average Price $1,417,320 (-9.4%) $1,563,680 $1,522,240 (-6.9%)
No. of Sales 21 (-27.6%) 29 35 (-40.0%)
Pending 19 (-17.4%) 23 25 (-24.0%)
Active 26 (-21.2%) 33 13 (+100.0%)
Sale vs. List Price 101.5% (-2.7%) 104.4% 106.3% (-4.5%)
Days on Market 26 (+50.4%) 17 13 (+108.4%)
Days of Inventory 37 (+8.8%) 34 11 (+233.3%)

 

And the month before

 

Trends At a Glance Jul 2018 Previous Month Year-over-Year
Median Price $1,450,000 (-6.5%) $1,550,000 $1,275,000 (+13.7%)
Average Price $1,563,680 (-1.4%) $1,586,540 $1,357,390 (+15.2%)
No. of Sales 29 (0.0%) 29 40 (-27.5%)
Pending 23 (-11.5%) 26 33 (-30.3%)
Active 33 (+3.1%) 32 14 (+135.7%)
Sale vs. List Price 104.4% (-4.0%) 108.7% 106.8% (-2.3%)
Days on Market 17 (+30.9%) 13 17 (+3.6%)
Days of Inventory 34 (+6.7%) 32 11 (+225.1%)

 

What about the Campbell CA condo market?

Usually condo markets show more fluctuation due to their smaller inventory with a great variety of properties – in Campbell, however, the numbers have been pretty consistent. Listings are selling at a spitfire pace in only one week and at 116.8% above list price on average this past month. Keep in mind, though, that fewer sales means low data which can make these statistics wonky. The Campbell CA condo market remains a sellers market, and is keeping up with the housing market.  See the full report for the Campbell California condo market here

Trends at a Glance

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $1,023,500 (+17.3%) $872,500 $915,000 (+11.9%)
Average Price $979,625 (+10.6%) $885,571 $860,636 (+13.8%)
No. of Sales (-42.9%) 14 11 (-27.3%)
Pending 11 (0.0%) 11 (+22.2%)
Active (-33.3%) 6 (+33.3%)
Sale vs. List Price 106.5% (+3.2%) 103.2% 113.2% (-5.9%)
Days on Market 25 (+73.3%) 14 (+167.0%)
Days of Inventory 15 (+16.7%) 13 (+83.3%)

 

And the month before:

 

Trends At a Glance Jul 2018 Previous Month Year-over-Year
Median Price $872,500 (-14.0%) $1,014,000 $920,000 (-5.2%)
Average Price $885,571 (-16.8%) $1,064,550 $899,714 (-1.6%)
No. of Sales 14 (-30.0%) 20 (+100.0%)
Pending 11 (-31.3%) 16 11 (0.0%)
Active (0.0%) 6 (N/A)
Sale vs. List Price 103.2% (-4.7%) 108.3% 106.5% (-3.1%)
Days on Market 14 (+50.3%) 10 15 (-5.6%)
Days of Inventory 13 (+47.8%) 9 (N/A)

 

Next we’ll take a brief overview of the “big picture” in Campbell’s housing market by looking at statistics related to currently listed homes for both houses and condos or townhomes there. (Charts and data by Altos Research, to which I have a subscription and permission to use here.) Median list price of condos and single family homes in Campbell.

From this first chart, it would appear that the housing market for single family homes is experiencing a slight decline while the condo market is rising slightly after an earlier winter slowdown. Low data means many more fluctuations in Campbell for condos and townhomes than in single family market, which is made visible below.

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

Inventory has flattened out and declining now – while in much of the valley it is rising. This is probably why Campbell is holding its value better than many other places.

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

Days on the market for homes for sale in Campbell – the two “markets” were fairly similar overall for a long while but over the last year condos have been selling consistently much faster than homes. Both markets are holding steady with low days on market.

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

 

These numbers – for both houses and condos – can only give you a broad picture of what’s going on. If there are no homes for sale in your townhome community and it’s in a great area, and you price it well etc., you should find it relatively easy to sell. But if there is too much supply (too many similar homes on the market), it will be far more challenging to sell. The residential real estate market, like everything else, is all about supply and demand. For information on your specific neighborhood, please call me or email me today.

For more reading on Campbell CA

Scenic Percolation Ponds in Campbell Serve Important Functions

A leisurely Sunday & photos of downtown Campbell

Campbell’s “Skull & Crossbones” house

 

Find Campbell, CA Houses for Sale:

  1. 4 beds, 3 baths
    Home size: 1,944 sq ft
    Lot size: 6,398 sqft
  2. 4 beds, 2 baths
    Home size: 1,373 sq ft
    Lot size: 6,185 sqft
  3. 3 beds, 2 baths
    Home size: 1,110 sq ft
    Lot size: 6,242 sqft
  4. 4 beds, 3 baths
    Home size: 2,016 sq ft
    Lot size: 9,500 sqft
  5. 4 beds, 2 baths
    Home size: 1,322 sq ft
    Lot size: 6,041 sqft

See all Real estate in the city of Campbell.
(all data current as of 9/23/2018)

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

Browse Campbell, CA Condos Listed for Sale on the MLS:

  1. 3 beds, 3 baths
    Home size: 1,481 sq ft
    Lot size: 910 sqft
  2. 1 bed, 1 bath
    Home size: 704 sq ft
    Lot size: 744 sqft
  3. 3 beds, 3 baths
    Home size: 1,598 sq ft
    Lot size: 823 sqft
  4. 2 beds, 2 baths
    Home size: 1,610 sq ft
    Lot size: 1,528 sqft
  5. 3 beds, 3 baths
    Home size: 1,242 sq ft
    Lot size: 1,537 sqft

See all Real estate in the city of Campbell.
(all data current as of 9/23/2018)

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

View townhouses or townhomes  in Campbell, California, listed for sale on the multiple listing service (MLS):

  1. 3 beds, 3 baths
    Home size: 1,481 sq ft
    Lot size: 910 sqft
  2. 1 bed, 1 bath
    Home size: 704 sq ft
    Lot size: 744 sqft
  3. 3 beds, 3 baths
    Home size: 1,598 sq ft
    Lot size: 823 sqft
  4. 2 beds, 2 baths
    Home size: 1,610 sq ft
    Lot size: 1,528 sqft
  5. 3 beds, 3 baths
    Home size: 1,242 sq ft
    Lot size: 1,537 sqft

See all Real estate in the city of Campbell.
(all data current as of 9/23/2018)

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

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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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