The 95124 zip code, which corresponds to about 2/3 of the Cambrian district of San Jose, is seeing steeply rising prices right now.  How steep is it?  Here’s a peek at the average sales price, year to date, of single family homes in 95124 (run via the MLS moments ago):

Sale Prices Over Time (COE)
MonthAverage Sale Price
Jan$727,776
Feb$715,923
Mar$800,977
Apr$825,073

Time frame is from Jan 2013 to Apr 2013

Property Sub Class is ‘Single Family Residential’
Zip Code is ‘95124’
Results calculated from 133 listings
There are many anecdotal stories of multiple offers and overbids – but this statistic alone should make it clear that the market has changed.  Further, looking at comps will cause buyers to undervalue prices because the comps are yesterday’s prices, not today’s.
You can see the heating up in the days on market and average sale price to list price ratio too:
Avg DOM & Sale to List Price Ratio
MonthSale Price to List Price RatioDays to Sell, Average
Apr 201299.5%32
May 2012101.2%48
Jun 2012102.4%25
Jul 2012101.8%33
Aug 2012101.9%28
Sep 2012102.8%19
Oct 2012104.8%24
Nov 2012102.4%82
Dec 2012101.1%47
Jan 2013102.9%26
Feb 2013103.8%42
Mar 2013106.0%35

Time frame is from Apr 2012 to Mar 2013

Property Sub Class is ‘Single Family Residential’
Zip Code is ‘95124’
Results calculated from approximately 570 listings
Want to bid on a Cambrian home in 95124? It’s important to factor in rapid appreciation so that you aren’t accidentally priced out of the market by underbidding multiple times while prices continue to go up.

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(all data current as of 5/29/2024)

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