It is a fairly strong seller’s market in the Cambrian Park area of San Jose. Sales are up, inventory is down, and the list price to sales price ratio is at almost 102%. Days on market are down for houses (which make up most of the market). Some indicators are still negative but most are improving.
Here are the numbers from my online Silicon Valley Real Estate Report for single family homes – houses & duet homes (click on the link for the whole report):
| Trends At a Glance | Nov 2009 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $585,000 | $617,500 (-5.3%) | $584,500 (+0.1%) |
| Average Price | $612,195 | $644,434 (-5.0%) | $629,332 (-2.7%) |
| No. of Sales | 57 | 48 (+18.8%) | 34 (+67.6%) |
| Pending Properties | 77 | 93 (-17.2%) | 43 (+79.1%) |
| Active | 80 | 81 (-1.2%) | 204 (-60.8%) |
| Sale vs. List Price | 101.9% | 98.7% (+3.3%) | 98.6% (+3.3%) |
| Days on Market | 36 | 45 (-18.6%) | 50 (-26.8%) |
And for the condo and townhouse market in Cambrian Park, things are looking up quite dramatically, with prices even higher than a year ago:
| Trends At a Glance | Nov 2009 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $440,000 | $355,000 (+23.9%) | $425,000 (+3.5%) |
| Average Price | $410,555 | $325,154 (+26.3%) | $365,100 (+12.5%) |
| No. of Sales | 11 | 13 (-15.4%) | 5 (+120.0%) |
| Pending Properties | 30 | 33 (-9.1%) | 9 (+233.3%) |
| Active | 13 | 10 (+30.0%) | 57 (-77.2%) |
| Sale vs. List Price | 99.0% | 102.3% (-3.2%) | 101.4% (-2.3%) |
| Days on Market | 44 | 39 (+12.1%) | 26 (+70.8%) |
Days on market are still a bit slow but other indicators are quite strong.
Generally, it appears that the bottom of the market is well behind us in Cambrian Park.
Now let’s look at pricing by price quartile and zip code, using stats from Altos Research (by permission) . NB these are list prices, not sold prices (numbers from RE Report, above, use sold data).
Houses (and duet homes)
Cambrian Park, single family homes (houses & duet homes), 95124 List Price by Quartile:
Cambrian Park, single family homes, 95118 List Price by Quartile
Condominiums and townhouses in Cambrian Park
In 95124:
In 95118:
And now for a “super simplified” overview – all quartiles combined, both condos and single family homes’ list prices by zip code:
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