How is the Campbell real estate market? Campbell is in a strong seller’s market that has finally outstripped this time last year. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few details from the latest update on Campbell’s single family housing market:
Inventory has fallen behind last month and were just half of last year’s levels, remaining significantly below normal. Smaller pools of data can cause more dramatic swings in these statistics, so take these numbers with a grain of salt.
The average sales to list price ratio for homes sold last month fell to 100.5% of asking – that’s still hot, and completely overtakes last year’s November numbers.
Average and median sales prices are up +2.9% and +9.9% from the last month respectively.
Average time on market slowed to 23 days and market absorption was a quick 18 days. The best homes are being snatched up quickly, while less desirable properties may linger slightly longer.
Active inventory, closed, and pending sales all slipped month-over-month while closed and pending sales aren’t far off from last year despite a massive drop in available listings.
The market in this popular west valley city is red hot overall!
The Campbell, CA Real Estate Market
It’s hard to predict what’s coming next, especially since Silicon Valley real estate is connected to the global economy and many buyers rely on stocks and mortgage loans to finance their purchase. On top of that, we’re emerging from an already wild few years!
If you’re selling a well prepared, beautifully staged, and aggressively priced house, you’ll likely see multiple offers on your home for sale. We’ve been seeing more bidding wars, but not with overbids quite as high as last spring. Competition for homes has undoubtebly waned from it’s peak as buyers financial power shrank with rising interest rates. That said, with even fewer homes being listed this year there’s still far more demand than there is inventory, especially for a move-in ready home!
Desperate and worn out buyers want to get their foot in the door before they are priced out of the market altogether by either climbing interest rates or rising home prices.
Don’t expect a balanced market any time soon – California still has a severe housing shortage and buyers are still clamoring to get property!
Here’s a quick view of the Campbell real estate market stats from Altos Research, using list prices (not sales price) which updates automatically about once per week:
The Altos chart is showing Campbell, CA single family homes in a strong seller’s market with a recent decline in market action paired with continually low inventory. Available listings remain well below typical, and these few homes continue to sell quickly.
And now – here are some quick stats, pulled from the MLS (Multiple Listing Service) through the RE Report:
The Milpitas real estate market has held relatively stable entering late autumn and remains a strong seller’s market.
Here are a few points from the latest update to the Milpitas single family homes market, with more data and analysis in the article below:
Only 5 single family homes closed in November, so take all sales data with a grain of salt!! Major swings are not likely to be indicative of overall market trends, but of the few individual homes sold this month.
Compared to this time last year homes are selling much higher over asking, over 5% more, averaging 105.3% in November, and it remains a strong seller’s market.
The average single family home price in November was $1,397,020 (-11.9% from the month before, and down -33.7% from a year ago).
The median sale price dipped to $1,421,230 (-3.5% from the month before, and down -0.3% from last year)
Listings averaged 15 days on market, slightly faster than the month before, and almost half as long compared to this time last year.
Closed sales dropped to less than half of the month prior, active lisings also fell, and pending sales nearly doubled. Compared to this time last year there are just a quarter of the available homes while closed sales are just a third of what they were.
As listings slow down in the final quarter, market activity has picked up in Milpitas with continued buyer demand. Unless inventory grows dramatically buyers will continue to struggle with the severe housing shortage and the market will remain red hot for sellers.
The Milpitas Real Estate Market
Milpitas is perpetually attractive for home buyers as the location is convenient and offers good schools. Many areas are close to the hills and enjoy scenic views, too.
So let’s look at some data. First up, the Altos charts using list price and active listings. It is updated automatically on a weekly basis, so check back often:
Cambrian Park, or more broadly, Cambrian, is a west San Jose neighborhood or district and is one of the high-value areas in Silicon Valley. The schools are good, the crime is low, and the commute is not too bad.
For people relocating to Santa Clara County, this is a place to know about since quality education and affordability are often high priorities! Most Silicon Valley home buyers would say that Cambrian Park real estate offers a very good value.
What’s the compromise for the more reasonable prices of homes for sale? Well, Cambrian doesn’t have an interesting, upscale downtown area like Campbell, Los Gatos, Saratoga, or Willow Glen. (It may, when the Cambrian Park Plaza redevelopment takes place.)
But it does have tons of shopping & restaurants and even a Farmer’s Market. It also enjoys a top notch hospital (Good Samaritan) and plenty of parks as well as a fantastic rec center with a large park adjacent to it, the Camden Community Center, which has loads of programs (including an after school program for youth), classes, and a fabulous pool.
Altogether, there are about 75,000 to 80,000 residents in Cambrian, spread throughout part of two zip codes, part of 95124 and some of 95118.
If there is a “central Cambrian Park”, it would have to be near the original Cambrian Park Shopping Center, which was the first actual mall in San Jose! That area is sometimes known as Cambrian Village. People sometimes use the three names interchangeably: Cambrian, Cambrian Park, Cambrian Village.
Where is Cambrian Park? Map of approximate Cambrian Boundaries:
The Sunnyvale real estate market, like the rest of Santa Clara County, has remained hot with a couple of cooling data points, some of which is seasonally typical.
Sunnyvale real estate market trends and stats at a glance
Here is a quick rundown of the trends at a glance for the Sunnyvale real estate market, with more in the charts below:
The average sale price of Sunnyvale homes slipped a little (as they did the month before)
Average prices are now up year over year by .4%. The median is up 3.6%
Inventory rose as compared to September, but is less than normal.
Pending sales are down slightly, monthly and annually, but the culprit is lack of inventory, not lack of buyer interest.
The sale to list price ratio rose wildly to 113.2% in October, compared to 106.5% in September,107.0% in August and, 108.1% in July. This is far above October 2022.
PLEASE visit our ReReport page for data here, throughout Santa Clara County, and also for San Mateo and Santa Cruz Counties.
(If you’re viewing this on a mobile phone, swipe horizontally to see the full chart if it goes off the screen.)
Willow Glen is a hot market. The first half of the year prices rose rapidly, and now they are rising less steeply, but prices are up quite a lot from a year earlier.
The Cambrian Park real estate market closed out the summer very, very hot. Autumn, so far, has been warm to hot – just not AS hot as summer had been.
For those new to the area, Cambrian is most of the 95124 zip code (south of Foxworthy) and most of 95118 (west of Almaden Expressway). It borders Los Gatos, Campbell, Willow Glen, and Blossom Valley.
The Cambrian Park Real Estate Market
The chart below is from the RE Report. Home prices are up year over year but down monthly by 2.2%. The sale to list price ratio cooled a little. It’s a strong seller’s market generally in Cambrian.
The Mountain View CA real estate market was a strong market and continued heating up, even breaking some recent records!
Quick summary on the realty market in Mountain View, CA
The average sale price for houses is down month-over-month and down year-over-year.
The median sale price is flat monthly and down annually.
Days on market rose from 10 to 21, still a hot market
The sales to list price ratio slipped to 107.1% from 112.1%, (it had been106.7% in August, 104.3% in July, 106.8% in June, and 107.7% in May). For buyers, it’s been tough all year.
Mountain View CA real estate market trends at a glance
First let’s have a look at the Real Estate Report for residential sales data. Home prices slipped a little month over month, and year over year, but many of the other data points suggest that it’s a highly competitive market for Mountain View home buyers.
Trends At a Glance
Oct 2023
Previous Month
Year-over-Year
Median Price
$2,510,000 (0.0%)
$2,510,000
$2,685,000 (-6.5%)
Average Price
$2,596,240 (-5.4%)
$2,745,310
$2,621,300 (-1.0%)
No. of Sales
21 (+61.5%)
13
15 (+40.0%)
Pending
14 (+7.7%)
13
10 (+40.0%)
Active
16 (-27.3%)
22
22 (-27.3%)
Sale vs. List Price
107.1% (-4.5%)
112.1%
104.5% (+2.5%)
Days on Market
21 (+105.2%)
10
26 (-20.2%)
Days of Inventory
23 (-53.4%)
49
44 (-48.1%)
Mountain View CA real estate market trends and data by neighborhood or district
The Willow Glen real estate market in San Jose remains a strong seller’s market, but prices inched down somewhat in October.
Average home prices are down month over month by 4.8% and down year over year by about 3.8%.
Homes are selling in 15 days on average – red hot. (It was 18 in September.)
The sale to list price dropped to 104.1% (it was 107.2% in September, 104.5% in August and 104.2% in July).
The best priced homes with no location or condition issues continue to sell quickly and with multiple offers and overbids.
Willow Glen Real Estate Market Trends: Single Family Homes
Willow Glen home prices slipped a little, which is surprising given that the sale to list price is at 104.1% and the days on market are a swift 15. It is possible that rather than home values going down, it’s simply that less expensive homes are selling. In general, first time home buyers are the most active segment of our Santa Clara County real estate buying population.
Below please find a market profile and then a couple of charts for the real estate market for houses and duet homes (attached single family homes – not duplexes), care of Altos Research, to which I have a subscription. Altos uses list prices, not sold prices. The data is automatically updated each week, so please bookmark this post and come back often!
Data from Altos Research for Willow Glen Real Estate Trends – San Jose 95125
In the latest update, Altos says single family homes are in a strong seller’s market with rising market action, and a decrease in much needed, perpetually low inventory. As of today, 35% have taken price reductions.
The San Jose real estate market remains in a red hot seller’s market, keeping active into early autumn with some mild seasonal cooling. Demand may have shrunk between rising rates and inflation, but inventory has plunged to extreme lows so it’s still far from balanced!
First, some quick data from my RE Report and hand-pulled from the MLS today. There appears to be a small amount of under- or over-counting between the RE Report and MLS Listings, so numbers vary slightly between the two, but the data is still good for trend tracking.
The October 2023 sale price to list price ratio for San Jose single family homes slipped to 105.3% of asking, that’s -1.2% from last month per the RE Report and +5.6% from this time last year, after the market’s sharp decline. For the MLS stats we pulled today, however, it shows 105.2% average, down from 106.1% (-0.9%) the month prior. Either way, the average home is selling consistently over list price in San Jose with consistent overbidding, though the market is cooling off a little into early autumn.
Home prices are up from last year by approximately 9%-10% after being behind for the first half of this year (RE Report), and month-over-month closed sales values haven’t shifted all that much.
The time on market sped up month-over-month to a 16 day average (RE Report). It’s quick turnover averaging well below a month, indicating a clear seller’s market.
Market Data: What Numbers Make a Difference
While prices and overbids have fallen significantly since the peak, in some ways this year has been even more challenging for buyers. For most buyers, their ability to purchase has been severely impacted by higher rates on home loans. But the biggest hurdle for many buyers is the extreme lack of available homes.
Since March 2023 San Jose has had record breaking low inventory, continually marking new lows with the fewest available listings by month in over a decade, according to the MLS data pulled today in the chart below. And it doesn’t look like inventory will be picking up any time soon, either.
Why such low inventory?
While in a more typical market we might have a number of sellers looking to “move up” or downsize, most homeowners today couldn’t afford to move or don’t want to take on a higher-rate mortgage. Now it seems like a higher percentage of the listings we are seeing comes from investors, people leaving the area, and sales by family after a death – cases where there is no pressure to repurchase or where selling is the only option. That limits significantly what is available to buyers!
Although inventory remains at record-breaking lows with higher demand than availability, sale prices and overbids are not breaking records like last year’s spring peak. Many buyers are experiencing significantly more pressure from higher interest rates, fluctuating stocks, and other factors limiting purchase power and lowering confidence. That said, not every home will face the same challenges – there are loads of micro markets that influence how well any given home does, so take this city-wide data with a grain of salt.
Inventory remains severely low – the lowest October inventory in over a decade! If you’re an active home buyer, it is slim pickings!
San Jose Real Estate Market Trends at a Glance (RE Report)
Trends At a Glance
Oct 2023
Previous Month
Year-over-Year
Median Price
$1,600,170 (+0.6%)
$1,590,000
$1,450,000 (+10.4%)
Average Price
$1,728,180 (-3.3%)
$1,787,000
$1,583,700 (+9.1%)
No. of Sales
281 (+39.8%)
201
327 (-14.1%)
Pending
230 (-16.1%)
274
225 (+2.2%)
Active
234 (-1.3%)
237
418 (-44.0%)
Sale vs. List Price
105.3% (-1.2%)
106.7%
99.7% (+5.6%)
Days on Market
16 (-15.2%)
19
27 (-40.9%)
Days of Inventory
25 (-26.9%)
34
38 (-34.9%)
Available inventory is just half of what it was at this time last year, while pending sales are up, and closed sales are only marginally less (when considering the inventory available). Please keep reading below for more data and market analysis.
Expired, canceled, and withdrawn listings are all frustrating situations for both home sellers and the Realtors they worked with. After considerable effort, and likely also significant cost. the property failed to sell (or it went pending, fell through, but did not re-sell). What happens next?
3 Minute Video Overview
What is the difference between expired, canceled and withdrawn listings?
Let us begin by discussing the difference between canceled, expired, and withdrawn listings and how each impacts your vulnerability to being swamped with messages from real estate agents.
On the multiple listing service, these are very distinct statuses.
A withdrawn listing means that the property is still listed for sale with a real estate agent or broker but is no longer listed on the multiple listing service (MLS). It’s still a valid listing and other agents should not approach you about working with them since you are still in a contract to sell your home with your current agent.
An expired listing means that the contract for your listing has come to an end and the listing is no longer in place. Other agents may approach you since there is no valid listing in place.
A canceled listing is one in which the seller and agent or broker agree to terminate the listing. Since the listing has ended, other agents are free to contact you.
In a nutshell, if your Silicon Valley home’s listing becomes either canceled or expired, real estate sales people may contact you, but if it is merely withdrawn, they are not supposedto reach out to you because you still have a valid listing in place. (more…)
Christie's International Real Estate Sereno, Los Gatos, CA 95030 408 204-7673 Mary@PopeHandy.com License# 01153805
Clair Handy, Realtor
GREEN
Christie's International Real Estate Sereno 214 Los Gatos-Saratoga Rd Los Gatos, CA 95030 ClairHandy@sereno.com License# 02153633
Mary & Clair sell homes throughout Silicon Valley: Santa Clara County, San Mateo County, and Santa Cruz County. with a special focus on: San Jose, Los Gatos, Saratoga, Campbell, Almaden Valley, Cambrian Park.
The real estate search
Use this link to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now?
Mary Pope-Handy, Realtor
ABR, AHWD, CIPS, CRS, SRES
Christie's International Real Estate Sereno
DRE License #01153805
408-204-7673
mary@popehandy.com
“Helping nice folks to buy and sell homes in Silicon Valley since 1993”
Clair Handy, Realtor, GREEN
Christie's International Real Estate Sereno
DRE License #02153633
408-721-6160
clairhandy@sereno.com “Helping nice folks to buy and sell homes in Silicon Valley”
This is the Valley of Heart's Delight blog , covering Silicon Valley real estate - Santa Clara County, San Jose, Los Gatos, Cupertino, and nearby communities in the South Bay Area and lower Peninsula. Find info on neighborhoods, disclosure issues, buyer and seller tips, and housing market conditions in the west valley and most of the county.Please also see my other websites and real estate market statistics site, which are listed in the sidebar, above.
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Mary Pope-Handy, Realtor
ABR, CIPS, CRS, SRES
Sereno
DRE License #01153805
408-204-7673
mary@popehandy.com
“Helping nice folks to buy and sell homes in Silicon Valley since 1993”
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How is the Campbell real estate market? Campbell is in a strong seller’s market that has finally outstripped this time last year. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few details from the latest update on Campbell’s single family housing market:
For people relocating to Santa Clara County, this is a place to know about since quality education and affordability are often high priorities! Most Silicon Valley home buyers would say that Cambrian Park real estate offers a very good value.
The Sunnyvale real estate market, like the rest of Santa Clara County, has remained hot with a couple of cooling data points, some of which is seasonally typical.
How’s the Cupertino real estate market?
The Mountain View CA real estate market was a strong market and continued heating up, even breaking some recent records!
