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Near Leigh HighWhat does it cost to be within a mile of Leigh High School in San Jose’s Cambrian area?  Today I ran the numbers of sold houses over the last 60 days overall and also by price range of $200,000 increments.  Here’s how it looks – averages for regular sales (non distressed, no short sales or REOs) in San Jose 95124 within a 1 mile radius of Leigh HS.

For all Cambrian houses (prices ranged from $770,000 to $1,350,000):

  • The average sale price of the 26 regular sale houses sold in the last 60 days was $888,236; the average square footage was 1676, average lot size 7044 SF, average age 54 and average days on market 12.  If you are hoping to buy a Cambrian home close to Leigh High School, the odds are that it will cost you at least $800,000 and very likely much more.

If we pull it apart by price point, it’s a little surprising to find that the amount of house bought at the lowest prices was not that much different from those in the mid-range.  The difference is probably a combination of exact location (being next to Hwy 85, the high voltage lines or on a busier street will pull prices down while having a fully remodeled property will bring it up).  Here are the stats:

  • $799,999 and under: 4 sales, average SF 1423, average lot size 6304, average age 53 years, days on market 8
  • $800,000 to $999,999: 16 sales, average SF 1458, average lot size 6764, average age 52 years, days on market 13.    These are your most typical homes in the area in terms of pricing.
  • $1,000,000 to $1,199,999: 2 sales, average SF 2881, average lot size 8045, average age 59 years, days on market 8

What if we look at the same exact area, within one mile of Leigh High School, but at properties within the town of Los Gatos?  Usually those houses are on larger lots and are closer to the hills, but even on side-by-side houses where one’s San Jose 95124 and the other is Los Gatos 95032 there is usually a jump of 3-5% to have the Los Gatos address. For this same 60 day period, there are just 9 houses in Los Gatos which sold (regular sales, same criteria).  None were under a million dollars (range $1,049,888 to $2,062,000).  The averages for the Los Gatos properties are as follows:

  • The average sale price of the 9 regular sale houses sold in LG over the last 60 days was $1,438,654; the average square footage was $2168, average lot size 13,114, average age 43 and average days on market 31.

Probably the best comparison between Cambrian and Los Gatos pricing would be the side-by-side sales, but we do not have any at this time.  Next best is the most similar home and lot size.  San Jose parcels are almost always smaller than those in Los Gatos, but if we get close (7000 SF in SJ and a hair over 8000 SF in LG), it looks like a house in San Jose of about 1550 SF would run around $900,000 and the same house in LG would go for about $1,150,000.   If you’re willing to go smaller or do more “sweat equity”, you can probably pay less. If you need an absolutely turnkey home, you’ll need to pay more – no matter which zip code you’re in.

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