How’s Cambrian Park condo & townhouse market? Normally we answer this question in brief with regular monthly updates over on the Cambrian Park Real Estate Market Update. Here we will provide some more depth with condominium and townhome data.
Before we dive in the the statistics for sold properties last month, let’s see what’s selling now in the Cambrian Park condo & townhouse segment of the market.
Cambrian Park Condo & Townhouse market
Just now (as of November 14, 2022), I looked into the MLS to see the condo and townhome sales in Cambrian over the last month. Inventory is painfully low, and therefore, so are the sales.
- There are 8 units listed for sale as “active” (not pending or under contract)
- 6 are listed as condos (1 is “agent only” status, do not show)
- 2 are listed as townhouses (both are “agent only” status)
- 0 homes are under contract with one or more contingencies
- 0 homes are pending with no contingencies
- 7 condos / townhomes have sold and closed escrow in the last 30 days (4 condos, 3 townhomes)
- They sold with an average of 14 days on market (condos 17 days, townhomes 9)
- Average sale price to list price ratio was 101% (range 97% – 112%, condominiums averaged 99%, townhouses 104%)
Home prices appear to be down about 10% from the peak generally. It could be more or less in any given micro market.
Now let’s have a look at some of the numbers from our Real Estate Report:
Real Estate Report: Cambrian Park Condo & Townhouse Market – San Jose
Home prices are down from the peak here as they are throughout the valley. Please take the month over month and year over year sale price numbers with a big grain of salt. With so few transactions happening, there’s not enough data to be really accurate. What’s better is finding what else has sold for your home (or the one you’re interested in) recently. It should be within a mile, have the same school district, zip code, and similar location overall, and it should be within 10% of the home size of the comparable, or “comp”.
What we do know is that the days of inventory and the days on market are both longer than they were. The market is jiggling up and down a little each month, and the general trend may be that we’ve hit the bottom of pricing for now.
|Trends At a Glance||Oct 2022||Previous Month||Year-over-Year|
|Median Price||$680,000 (-24.9%)||$905,000||$901,250 (-24.5%)|
|Average Price||$814,271 (-9.9%)||$903,625||$945,883 (-13.9%)|
|No. of Sales||7 (-12.5%)||8||18 (-61.1%)|
|Pending||8 (+60.0%)||5||14 (-42.9%)|
|Active||5 (+25.0%)||4||9 (-44.4%)|
|Sale vs. List Price||101.1% (+2.6%)||98.5%||102.1% (-1.0%)|
|Days on Market||17 (+30.6%)||13||16 (+8.3%)|
|Days of Inventory||21 (+47.8%)||15||15 (+42.9%)|
Altos Research Live Charts
The market profiles are live, updating automatically once every week, with active inventory from MLS listings.
Most of Cambrian Park falls under the 95124 zip code. Here’s a quick look at the main real estate market data points for Cambrian 95124 this week:
What’s making it strong when prices have fallen? Mostly it’s a lack of inventory couples with a healthy buyer demand.
Click to view the 95124 weekly report.
Next, a look at the Cambrian real estate market in the 95118 zip code. This area is generally a little younger and less expensive than 95124. Part of the pricing difference is school districts as most of 95124 has the Campbell Union High School District with either Cambrian or Union Elementary School District. Most of 95118 has San Jose Unified Schools. Some of them are very strong, like Los Alamitos (mostly covers Almaden, but also a little of 95118) and some are not so strong.
Cambrian includes a few different schools districts and 2 zip codes, so what is happening in one area or price point may not be true in another. For specific information relating to your home or needs, please contact me!
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