The Cambrian area of San Jose is a very “hot market” overall, but it can be confusing to know how hot it really is, just like the rest of Santa Clara County, because there are multiple school districts – and schools are probably the number one driver of home values in this highly educated valley. Also, we know that in 2020 the market started off hotter than the year before but cooled down a lot in Spring due to the pandemic. As rules started to loosen again this spring, the market has started to heat up quite noticeably! The best homes are still the ones selling quickly and often with multiple-offers.
An explanation of “months of inventory”
What does “months of inventory” mean? This figure references how long it would take to sell a property if homes continued to sell and close at the current pace with no new inventory coming on the market. A good analogy is to consider a bathtub which drains. If you add no new water to the tub, how long will it take to empty out?
The months of inventory is sometimes called the absorption rate. The question is simple: how long will it take for the current inventory of homes for sale to get absorbed by the home buyers purchasing them? It doesn’t have to be calculated by months. It could be in days, weeks, or years. But months is probably most common.
The months of inventory for any part of the real estate market can vary, depending on many factors, including age of home, house size, lot size, and school district, whether or not there’s a pool, and many other things. It can be very useful to understand this metric when selling a Silicon Valley home. I’ve done market numbers crunching tied to the specific characteristics of a property (say, small yard with pool or big yard with no pool) to find the impact of those characteristics on the probability that a home will sell – or how fast.
The Cambrian area of San Jose’s months of inventory as a whole, and in one price point
Cambrian was once an enormous zone of the Santa Clara Valley. Today we mostly think of it as within San Jose in the 95124 and 95118 zip codes. Some of it it adjacent to Campbell – a very tiny sliver is IN Campbell (we’re only dealing with the San Jose portion in our charts), and a tinier still area is in San Jose and is under the Campbell School Union District. Most of this area is in one of three elementary school districts: Cambrian, Union, or San Jose Unified.
Here’s the breakdown – first, for ALL of Cambrian (MLS area 14 for my Realtor readers) that’s within the City of San Jose and second, by elementary school district. We will look at all prices for single family homes and then within a price range of $900K – $1.2M. The area for Campbell Elementary is so small that the numbers are usually not statistically useful (no offense to the Campbell school residents). It can just jump around too much to be helpful and often gives us no usable data. Often, as in this most recent batch, there are no homes available or sold from this area at all.
Please have a look – once again San Jose Unified holds the majority of the lower-price market! San Jose Unified also has the fastest turnover, both in the lower price point and across Cambrian overall. The Union School District holds a majority of the overall market, and all areas with sales are showing extremely low MOI!
Homes are flying off the market, though it’s past the spring peak. A majority of sales and active inventory are coming from the Union Elementary School District. San Jose Unified in a close second place for sales overall with less than half the available inventory. Limiting analysis to the entry-level market, San Jose Unified is outstripping inventory and sales across the other school districts. On the other hand, the Cambrian Elementary District has fewer sales and active inventory, but is a very active market (currently the second fastest MOI overall) and is significantly hotter than it has been in the past few years. Inventory remains low and struggles to keep up with the high levels of demand fueling a hot seller’s market in San Jose’s Cambrian district.
Below we have past charts for comparison. I usually do this analysis a few times a year, and it is good to see the long view.
The Cambrian or Cambrian Park district is a popular residential market with good “bang for your buck.” It remains a strong seller’s market, possibly just past the hottest spring peak. This article provides a detailed look at the residential real estate markets of Cambrian with live and monthly updates. Here are some points of note from the latest monthly update for Cambrian Park single family homes:
- The sales to list price ratio finally cooled a hair, now at 112.1% of asking (115% in May)
- Days on market have maintained a lighting fast 10 day average
- Available inventory has fallen almost 28% from them month before
The Cambrian Park Real Estate Market
The days of lockdown, PEAD forms, appointment only showings, and other restrictions is coming to an end. Despite the lifting restrictions, home buyers are still very motivated to get out of San Francisco and into more space in the suburbs – especially more yard, and more rooms in the house for separate “work from home” offices as many schools and businesses continue to physically distance. Strong public school districts remain a big draw.
Cambrian single family homes trends at a glance – numbers from the RE Report
Here’s the RE Report info for last month’s sales:
(Mobile viewers, swipe to scroll if the graph you are viewing extends beyond the screen.)
Trends at a Glance
|Trends At a Glance
|No. of Sales
|Sale vs. List Price
|Days on Market
|Days of Inventory
Please see the whole Cambrian Real Estate Report for charts, stats and more.
It is a prolonged, strong seller’s market. Sellers and buyers today continue to face restrictions under the coronavirus order that affect the market. While homes may still be appreciating (on a case by case basis – much has to do with the exact location, condition, etc.), before you list you should know how your sale would be affected by these changes.
Learn about the Cambrian months of inventory, or absorption rate, by elementary school district. (Please note that the months of inventory post is not updated as often as this monthly market analysis.)
The condo and townhouse real estate market for San Jose 95124 & 95118
The townhouse and condo real estate market (also from my Real Estate Report) – with great schools and relatively affordable pricing, this market segment is usually popular and remains hot, although nowhere near as hot as the single family housing market! Last month condos saw increased activity with stable market trends. June sales averaged at 104.3% of list price in only 2 weeks.
Trends at a Glance – Cambrian condos
|Trends At a Glance
|No. of Sales
|Sale vs. List Price
|Days on Market
|Days of Inventory
The Cambrian Park Real Estate Market Update for San Jose 95124 – Altos
Here’s a different kind of update for the Cambrian Park real estate market courtesy of Altos Research (which uses LIST prices for its charts). The next few data sheets show the housing market trends and updates, live and updated weekly. My observations are from the most recent update at the time of writing, June 12th. This first item reflects the weekly Altos Research report right now for San Jose 95124 and will provide an approximation of how much home your money can buy in this district of San Jose.
The median list price is at $1.598 million, an increase from last month.
The chart above shows extremely low days on market beginning to slowing down (14 days as of June 12th after seeing 0 DOM all three months prior!), small increases in inventory, and a recent drop in market action. Overall San Jose 95124 remains in a fiercely strong seller’s market with some seasonal cooling into summer.
The Real Estate Market Update for San Jose 95118
Next let’s look at the listing data from Altos Research for 95118, single family homes (east side of Cambrian Park).
Normally, prices are distinctly different between 95118 and 95124 – we’re seeing that now, though it can be more pronounced when demand isn’t as high and inventory isn’t so low.
And below, an update of the market data from Altos for this part of the district.
Inventory in 95118 is severely lacking, days on market are low and growing, and overall it is strong seller’s market with a slight dip in market action.
Please see the Condominium & Townhouse Real Estate Report for all of the numbers in this area and the rest of Santa Clara County! Now let’s work with Altos Research’s graphs and get a feel for the Cambrian realty market in “real time.” These use list prices, whereas my RE Report uses sold data.
First, the statistics by quartile for houses in San Jose 95118. A quick note: most of 95118 has San Jose Unified Schools, while 95124 has Cambrian and Union schools, which are normally preferred.
Quick profile of 95118 and 95124 from Altos – this is dynamic and should update automatically each week:
Here, both 95124 and 95118 remain a strong sellers’ market with elevated market action. In 95124 there is lower market action for condos than in the single family market, but in 95118 that’s reversed with a slightly higher market action in condos compared to single family homes! However, with such small inventory these charts can have severe swings in data, so take this data with a grain of salt.
What is happening with the Cambrian real estate market? A lot of it seems to depend on the price point, school district, and condition of the property.
Turnkey houses, townhomes, and condominiums in Cambrian Park which have a contemporary look and are priced aggressively are selling fast. They need to look like 2019 and not like 2010 or 2012, though. Home buyers are very fussy and most households are either 2 income or 1 income and 1 very busy parent home with little ones. They don’t have the time or the energy to remodel. (Most buyers want grey hardwood or high quality laminate that looks like wood throughout – they don’t want 4 or 5 different types of floor covering.)
Cambrian home buyers often move to 95124 or 95118 for a combination of strong schools and relative affordability. Having a worry free home that does not look like it will cost a fortune to be made ready is a big plus and will help tremendously with the sale-ability of that residential real estate.
The part of Cambrian with Union schools continues to have the strongest demand (mostly 95124 but also part of 95118), followed by the area with Cambrian schools, and then those with San Jose Unified. All of them are doing well, but some areas are stronger than others.
If you live in Cambrian Park now, or are thinking you’d like to buy a home there, you’ll want to get a better understanding of the current real estate market conditions for your part of the market. The information above is naturally a little generic, applying to either all of Cambrian or to either 95124 or 95118. All real estate is local, though. It may be different by pricing tier, exact location, home style, or amenities (such as pool versus no pool, large garage vs no garage, walking distance to elementary school or really having to drive there). All of these things can be factored in and may apply to your particular home – or dream home – market. For the most specific to you data, please reach out to me by email to request a phone conversation. If it seems like a good fit at that point, we can arrange to meet in person and formulate a plan.
What can you buy in Cambrian for about $1.25 million?
Cambrian Park homes for sale
The San Jose real estate market is a strong seller’s market, and it has been for months. Available inventory remains low and can’t keep up with the high demand. This article is updated monthly with the latest market data. Here’s a sample of the latest for San Jose’s single family housing market:
- There was a distinctly hotter market in June 2021 compared to the year before.
- San Jose homes took an average of only 11 days to sell.
- The average sale to list price ratio was a red hot 110.8%.
Last spring the market experienced mild unseasonable cooling, but from the summer of 2020 on it’s been heating up in San Jose. Early winter saw a hint of seasonal cooling, but by mid-winter it was heating right back up again! This is shown in the San Jose housing market data below, and I’ve also experienced it in my own real estate practice.
These charts will not reflect the full effect of the pandemic on the market. It will take a while before we see the full picture on how it impacted realty, but for now you can read about the Coronavirus’ impact on real estate sales on my other post.
Early on in the shutdown, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th of 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory. Current numbers are accurate, but disregard this data for those previous months.
First please find the Altos Research Charts, a live feed of data on the housing markets in San Jose. You will then also find the RE Report, charts with statistics comparing sales in the last month and comparing them month-over-month and year-over-year. These are both the usual tools I use to gauge a market. Directly below are links to the market analysis of specific neighborhoods in San Jose. Some of these, where I work the most, are updated monthly, and others are updated every few months.
Altos Charts for the San Jose real estate market as a Whole – automatically updated each week – single family homes
First, the market profile and then the basic charts for single family homes or houses in San Jose. FYI, Altos uses LIST prices. The RE Report further down uses SOLD prices (which is part of the reason why I utilize both).
This real time market San Jose housing market profile (updated July 9th) shows a recent bump in inventory, slowing days on market, and sky-high market action despite a recent decline. San Jose is in an extremely strong seller’s market and holding, according to Altos! The Median List Price (for condos and houses combined) is usually stable around $1,250,000, though it has been getting nearer and nearer to $1.3 mil since last year and, around the spring peak was close to $1.35!
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. However with fantastic neighborhoods like Montanas de Los Gatos, Cambrian condos are not to be missed! So today we’ll take a closer look at the condominium and townhome market in this popular San Jose district!
Before we dive in, let’s see what’s selling now in the Cambrian Park condo & townhouse segment of the market.
Just now (as of April 15, 2021), I looked into the MLS to see the condo and townhome sales in Cambrian over the last 30 days. Out of 11 sales, 9 were listed as condos and 2 were listed as townhomes (all were held in in condo ownership). Condos sold between $430,000 – $1,005,000 and townhome sales closed between $855,000 – $980,000. Most sold in under 2 weeks and over list price, although the 3 properties that took longer than 2 weeks to sell closed under list price. Properties ranged from a 1 bed 1 bath to a 3 bed 2.5 bath, although most were 2 bed 1 bath units. The majority were built in the 1970s – 1980s, although the youngest property was built in 2007.
Now let’s have a look at some of the numbers from my Real Estate Report:
Real Estate Report: Cambrian Park Condo & Townhouse Market – San Jose
It’s a hot spring market for the Cambrian condo market!
|Trends At a Glance
|No. of Sales
|Sale vs. List Price
|Days on Market
|Days of Inventory
SALE PENDING WITH 6 OFFERS!
Closing Monday, May 10th.
f you are house hunting in Cambrian Park, there’s a gem of an opportunity at 2156 Ebbesen Avenue in the Villa Cambrian subdivision (Parker area) near Union Avenue and 85. This charming home is located on a quiet street and has been beautifully updated throughout. It’s updated throughout and enjoys highly prized Union Schools. Fantastic commute location, too!
Quick facts on 2156 Ebbesen Avenue
- Offered at $1,423,000
- 4 bedrooms (1 used as an office with French door & built in bookshelves)
- 2 updated bathrooms – the hall bathroom enjoys a deep, jetted bath
- 1457 SF (per county records) of living space
- Lot size 5911 SF (per county records, plat map shows lot as 60’x100′)
- Built in 1965
- single story home – just one step into the family room
- attached 2 car garage with storage space & pull down ladder
This updated home has many upgrades!
- updated kitchen with maple cabinets & Corian counter with breakfast bar
- large, sunny living room
- family room with gas log fireplace & built in bookshelves
- screened in porch for indoor / outdoor living off the family room
- beautiful engineered Brazilian cherry floors in living areas & hallway
- fresh carpet in all 4 bedrooms
- dual pane windows
- central air conditioning
- 2 sun tunnels
- loads of storage, including a large storage shed in backyard
Schools for 2156 Ebbesen Avenue
Carlton Elementary – Union School District
Union Middle School – Union School District
Leigh High School – Campbell Union High School District
View all the photos and get more info at CambrianHomeSale.com
The Villa Cambrian neighborhood in San Jose enjoys direct access to Hogue Park with its many amenities and enormous lawn. It also offers great proximity to major commute routes, shopping, employment centers, doctor and dental offices, bus routes, Harker preschool, and just about everything else. This subdivision stretches from Union Avenue on the east to Houge Park on the west an runs along Barrett Avenue and includes a few other streets, including part of Esther Drive. The area near the park is generally referred to as the Parker area.
There are 153 ranch style houses in the Villa Cambrian subdivision, which were built between 1960 and 1965. They range in size from 1222 SF to 2800 SF, and most homes are around 1222 -1457 square feet. The lots or parcels run from the smallest size of 5509 SF to more than 10,000 SF; most are less than 7000 SF, though.
Something unique and much appreciated by privacy lovers: all but 1 are single story houses.
On the northeast side of the Cambrian district in San Jose, just west of the Robertville area, there’s a nice pocket which has the 95118 zip code but the Union School District (most of 95118 has San Jose Unified schools). In fact, it’s right next to the school district boundary, so homes just a little east of here will be in San Jose Unfied, with lower performing schools and lower prices. This is a very good “value area” for how much home you can buy with really nicely performing public schools!
Within this area there are a few really outstanding subdivisions. Two of them are adjacent to each other and share many of the same amenities, such as walkability to the nearby Lunardi’s grocery store and other shops, so it’s helpful to view them together: Scottsdale 2, which is in three sections on different sides of Meridian and Branham, and Coronado, which fits like a puzzle piece around one end of the Scottsdale 2 tract.
Many, but not all, of the Scottsdale 2 houses have streets that begin with “Calle de”. With good sized rooms and comfortable floor plans, the Scottsdale 2 homes feel younger than they are. Built between 1973 and 1976, the 383 houses there average a comfortable 1807 square feet (range is 1426 to about 2500 with one other which is more than 3000 SF) with mixed single and double story floor plans. The average lot size is around 6600 SF, but some are as small as 5500 SF and others larger than 10,000 SF.
Major plusses are the more open floorplans than are typically seen in Cambrian, good sized home and room, walkability, good public schools and something infrequently found in Cambrian: underground power lines. It is so nice to not see wires everywhere!
Calle De Aida
Calle De Arroyo
Calle De Farrar
Calle De Gilda
Calle De Lucia
Calle De Stuarda
Calle De Tosca
Casa De Ponselle
Corte De Boleyn
Corte De Callas
Corte De Medea
Corte De Moffo
Corte De Pons
Corte De Tebaldi
Corte De Thais
Via De Caballe
What do homes cost in the Scottsdale 2 neighborhood?
Prices range tremendously, even for the same floorplan, based on exact location, lot size, remodeling, permits (or lack of them), and of course marketing. Photos are a home’s first “open house” and good photographs with good staging can make an enormous difference in the level of qualified buyer traffic and the ultimate sale price of the home. Smaller homes with small lots and needing remodeling will sell for the low million dollars, perhaps around $1.25 mil at the low end, but those which are bigger, highly remodeled (with permits and finals) and professionally marketed with professional photography will command a premium and sell for $1.7 million or more.
Here’s a closer view of one of the one story houses in Scottsdale 2.
The Coronado area is slightly smaller of a subdivision. It consists of 238 houses which were built in 1967 and 1968. The houses and lots are just a little bigger than the larger Scottsdale 2 subdivision.
The home sizes in the Coronado tract range from 1579 square feet to 2500 SF in most cases (a small handful are bigger) to and the average home is 1981 square feet & average lot size 7021 SF.
El Roble Court
La Paz Court
Las Cruces Court
Rio Verde Drive
The Del Oro neighborhood is a pretty pocket of the Cambrian district in San Jose directly on the border with Los Gatos at Blossom Hill Road. Most blocks enjoy large, mature street trees, and views of the coastal foothills are plentiful.
Where is the Del Oro neighborhood?
The Del Oro neighborhood in San Jose 95124 is bordered by Blossom Hill Road on the south, 1 house in from Leigh Avenue to the west, the utility easement behind Anne Way to the north, and the water or underground creek easement between Bobbywood Avenue and Mary Jo Way to the east. Streets included are Del Oro Drive, Del Oro Place, Del Oro Court, Tesoro Court, part of Anne Way, Anne Court, most of Copeland Lane, Copeland Place, and Copeland Court.
Students in this area attend Noddin Elementary, Union Middle, and Leigh High School – and those schools are a popular draw for this Silicon Valley community. The Del Oro neighborhood actually backs up to the Leigh campus. The other side of Blossom Hill Road lies the Belwood of Los Gatos neighborhood and the Belgatos area. As you can see from the map below, it is close to Belgatos Park, which includes some great trails as well as a playground, and also the Heinz Open Space Preserve and a good network of trails.
What are homes like in the Del Oro neighborhood?
This part of Cambrian consists of mostly single story ranch style homes, but there are some 2 story houses. Additionally, some Del Oro neighborhood homes are Spanish style, there are some French with a Mansard roof, etc. – so a bit of variety. Most of the streets are tree lined and there are sidewalks to make it even more inviting for pedestrians. And of course, the coastal hills are not far, and they make a beautiful back drop of the neighborhood.
- 183 single family homes
- 143 of them were built in 1968, 4 in 1967
- 30 were built between 1959 and 1964
- average square footage is 1792 SF (range is 1057 Sf to 2793 SF)
- average lot size is 6691 SF (largest lot is 11,097 SF, but most properties have 5900 to 8000 SF)
- average house has 3 to 4 bedrooms, 2.5 bathrooms
- 2 bedrooms = 1 house
- 3 bedrooms = 96 homes
- 4 bedrooms = 84 properties
- 5 bedrooms = 1 house
- 6 bedrooms = 1 house
- most homes have 2 car attached garages
- as of this writing, 15 are rental homes and the rest are owner occupied (92% owner occupied)
- 36 of them have pools (20% do have pools, 90% do not)
- 111 (61%) are 1 story houses, 48 have 2 stories, and 20 are tri-levels.
Most of the homes seem to be well cared for and updated, and most are basically ranch style. This first image displays a house with a taller than usual roofline, which is a beautiful improvement over the more typical low profile ranch roof.
Like many Cambrian neighborhoods, the Westchester Manor subdivision in the Alta Vista area includes well kept homes and yards, tree lined streets, and wonderful public schools. This neighborhood, though, is unique in that residents can amble to the elementary or middle school without crossing major streets. And the same can be said of getting to the local grocery store, Safeway, coffee shop, and more. For home buyers seeking walkability or easy access, this is a place to check out! But it’s not just walkable. From here it’s an easy jump to both Highway 85 off Union Avenue or a run to Vasona Lake County Park and downtown Los Gatos via Blossom Hill Road. Add to that the close proximity of the hills and you get the feeling that you’re not quite in the middle of a city at all.
Where is Westchester Manor?
Pins indicate homes within the Westchester Manor subdivision beside Union Middle School near Alta Vista Elementary School. The yellow line follows the power line.
Westchester Manor is within the Alta Vista neighborhood.
The Alta Vista neighborhood is part San Jose’s Cambrian district, and part Los Gatos (see a map of the neighborhood and municipal boundaries in the blog post linked). It’s bordered by Los Gatos-Almaden Road to the north, Union to the east, and Blossom Hill to the south. The Westchester Manor subdivision is entirely within San Jose on the northeast end of the neighborhood, next to Union Middle School.
This neighborhood has a very high owner occupancy rate – 87% from the numbers I pulled from Realist (a report available to members of the MLS) today. It’s a low-turnover, stable neighborhood. People move in, and they stay!
What are the homes like in Westchester Manor?
This is a predominantly “ranch style” neighborhood with mostly single story houses, but still quite a few two story ones, in an area with sidewalks, curbs, and gutters. Most houses have 3-4 bedrooms and 2-3 full bathrooms.
There are 3 tracts named within this subdivision. They don’t have exciting labels but instead are called tracts 1481, 1903, and 1997. There are 30-35 lots in each one and 106 in all.
There’s variation in age, but not much. Of the 106 homes which are part of Westchester Manor (there are smaller subdivisions on Coronet that aren’t) approximately 80% were built between 1957 and 1959 although some in tract 1997 (including and near Grey Court) were built as late as 1965 (I found one house built in 1956 also). Most of them have been at least somewhat updated and a handful were rebuilt with new construction in 1980 and 1990.
Home sizes range with the smallest homes at 1,283 SqFt, 1,293 SqFt, 1,308 SqFt, and 1,319 SqFt. The biggest houses are 3,656 SqFt, 3,607 SqFt, 3,171 SqFt, and 3,072 SqFt. The median home size is 1,738 SqFt.
Have you ever been to the J & P Cosentino Family Farm? If you’re a foodie who’s been in the Bay Area for a while, you might remember the incomparable quality of groceries at the Cosentino’s Markets or the insightful broadcasts on KLIV radio’s Produce Report by Mr. Produce himself, Phil Cosentino. While the famous fresh food family has stepped back from the spotlight in its members retirement years, you can still enjoy the taste of delicious Cosentino quality produce from the J & P Cosentino Family Farm!