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Updating the Campbell Real Estate Market

Tudor style house on graphic that says - How's the Campbell real estate market?How is the Campbell real estate market? Campbell is still in a strong seller’s market with signs it’s coming out of peak spring activity. This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few points from the latest update on Campbell’s single family housing market:

  • The sales to list price ratio for home sales last month dipped to a still scorching 109.1%.
  • Sales had lightning fast turnover with an average of 12 days on market.
  • The data shows the market is cooling off from the month before, following seasonal trends, but it’s still a scorching hot market compared to past years!

The Campbell, CA Real Estate Market

It’s hard to predict what’s coming up next with all that’s happened since March of 2020. The charts below certainly show the impact of the pandemic on the real estate market, but it will take a while to see the full picture. To read more about the Coronavirus impact on real estate sales, check my blog post on the topic.

At the beginning of 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, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory in those months, though current numbers are now accurate.

If you’re selling, perhaps last summer you’d have gotten 4 – 6 offers on your well prepared, beautifully staged, and aggressively priced home for sale. Recently, we’ve seen those numbers again (and sometimes many more!) in the 2021 spring market with a long (and growing) backlog of demand. Competition is high enough that we aren’t seeing many buyers with normal contingencies. This summer we can reasonably anticipate a decline in activity from a spring peak, but the real estate market will probably remain hot throughout the year. We’ll just have to wait and see!

Here’s a quick view of the Campbell real estate market stats from Altos Research, using LIST prices:

Campbell Altos Real-Time Market Profile

As of July 8th the Altos chart showing Campbell, CA single family homes is in a strong seller’s market with declines in market action, low and growing inventory, and few days on market. Things are still hot in Campbell!

And now –  here are some quick stats, care of my RE Report for Campbell:

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Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

Sketch of houseIt can be really challenging for people moving to Silicon Valley to get a sense of real estate prices, and perhaps more, comparing cost of from one town or district to another.

One question I get a lot is this: what does it cost to buy a 4 bedroom, 2 bath house of about 2000 square feet?

So to answer this question, let’s see what houses like this are selling for (4 bed, 2 bath, appx 2000 SF or 185 square meters) and see how the cost looks in one Santa Clara County / Silicon Valley area versus another.

Comparing Costs

Today I compared several areas and cities using this criteria: single family homes of 1800 – 2200 SF, 3-5 bedrooms, 2-3 bathrooms, on lot sizes of 6000 SF to 10,000 SF. Normally I would chart this over the last 2 months, or 60 days, but because of the low inventory causing the sellers market I have expanded the search to the last 3 months, or 90 days, for a better range. Because some areas have had a scarcity of inventory, I’ve added an addition to the chart titled NoS for Number of Sales within the given range.

Here’s how it shakes out in the “west valley areas” along the Highway 85 corridor, most of which are known to have good to great public schools. What areas are most affordable? One way of analyzing this is the “price per square foot” figure. Whenever I update the chart, I re-arrange the order of the cities from high to low based on the price per square foot, although there’s usually minimal movement.

 

Feb 2020 Sales Comparisons

 

Within this range, Campbell only had one sale over the last 90 days, so data for that segment may or may not be a good average. Both Los Altos and Saratoga had no sales within the last 90 days within these criteria, so their searches have been expanded to 0-180 days (or 6 months / half a year) and 0-120 days (or 4 months / a quarter year) respectively to provide data for comparison for this chart. Now that we have the data, let’s analyze it!

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Cameo Park West: Campbell neighborhood with Los Gatos mailing address

Cameo Park West - Leep Homes in Campbell with LG mailing addressThe Cameo Park West neighborhood is located close to where Los Gatos, Campbell, and Saratoga meet. It’s actually in the city of Campbell but has a Los Gatos mailing address. This is a tidy community bordered by Pollard Road, San Tomas Aquino Creek, the Highway 85 freeway, and Rolling Hills Middle School.

The 122 or so homes here were built in 1966 and 1967 by one of the better tract builders in the area, Leep Homes. Houses range from 1380 square feet to 2620 SF, and lot sizes run between 6000 SF and about 12,600 SF. A typical home might have around 1800 SF and be situated on an 8000 SF lot. The houses have thoughtful floor plans and the bedrooms and living areas are usually a good size.

Leep homes tend to have a fairly consistent layout – here are the 1 story home traits

  • most are single story homes
  • front porch with two bedrooms facing the front (sometimes one goes further into the front yard than the other)
  • formal entryway, often with double doors
  • step down living room straight ahead from the foyer (the rest of the house is all the same level)
  • fireplace located on side of living room closest to kitchen – it’s often a two way fireplace
  • kitchen (and sometimes also a family room) just behind the garage
  • laundry in the attached 2 car  garage but close to the kitchen, usually immediately next to the door from the garage to the kitchen
  • bedrooms are all down a hall in the opposite direction from the kitchen.  Just before the master bedroom suite there will be the hall bath (then inside the master suite, the owner’s bathroom and then bedroom)
  • the master bedroom faces the back yard, often leading to a patio shared between the kitchen (family room) and living room
  • central, forced air heat
  • hardwood floors
  • copper plumbing
  • no formal dining room (but plenty of space in the kitchen for eating)
  • sliding glass doors from the master bedroom, the living room and kitchen / family room

Below is a pan of one of the streets in Cameo Park West, taken in 2011.

 

Cameo Park West street in Campbell

 

Strengths and weaknesses of the Cameo Park West neighborhood

It’s very easy to list the strengths of this neighborhood: it’s very clean, well kept, had a good builder, convenient location (close to two schools and only a block or two or three to Safeway and nearby shops). Major shopping is within easy reach at Westgate, El Paseo and nearby (appx 7 minute drive). For those wishing to take Lawrence Expressway, it’s a breeze – just hop onto Quito and it becomes Lawrence, making a lot of commutes simpler, easier and faster. For Los Gatos, this location is closer to places like Apple, Google, and other high tech centers (as compared to downtown Los Gatos or east LG).

The elementary school is Marshall Lane, the middle is Rolling Hills and the high is Westmont. Both the elementary and middle enjoy API scores of over 900 and Westmont has a very respectable score that’s more than 800.

The negatives do not impact everyone, but that said, they do exist. At one end of the neighborhood, there’s super close proximity to highway 85, to the train tracks and to the high voltage power lines and towers. Those are never a plus.

Many homes along Elwood back up to Rolling Hills Middle School. Is that a negative or a positive? That really depends on your point of view, and some would prefer to back to a school yard than to another house. But most buyers would prefer another home.

What do homes cost in the Cameo Park West area?

Like most of the 95032 zip code, it’s unlikely to find a house for  under $1.5 million there today (if you do, it is likely in “fixer” condition). To be able to purchase one of these homes, be prepared to pay between $1.7 million and $1.8 million in most cases. Of course, it could always be less or more depending on exact location, size and condition of home, plus the marketing situation (is it easy to see, is it clean and without bad odors, has it been fairly updated etc.).

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See all Real estate matching your search.
(all data current as of 7/23/2021)

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

 
 

 

 

 

 

What Does It Cost to Buy a 4 Bedroom, 2 Bath Home in Silicon Valley with Good Schools?

Often I have clients who are interested in purchasing a 4 bedroom, 2 bath home in a good school district in Silicon Valley, particularly in the South Bay and West Valley areas. Tonight I did a study on the MLS of homes that have sold and closed escrow in the last 4 months with these characteristics:

  • single family home (house)
  • 4 bedrooms
  • 2 bathrooms
  • 1800 to 2200 square feet of living space
  • 6000 to 10,000 sf lot

Disclaimers aside, here are the numbers for select West Valley Communities in the West/South Bay area with good schools. The first number is the average sales price per square foot, the second number is the average sales price:

 

 

And a look at the chart from all back in 2015…

 

 

What’s changed? A lot! The order has shifted some, showing where demand has increased or decreased. Most noticeably, the prices are mostly less in 2015 than they are now, which is most noticeable in the price per square foot. Palo Alto and Los Altos remain consistently in the top two positions, and Blossom Valley of San Jose is regularly at the bottom.

The home prices tend to run with the school district API scores.  You can check the 2013, three year average, API scores in Santa Clara County for both the districts and the individual schools online here.         (more…)

Vizcaya neighborhood

VizcayaOne of the prettiest townhome communities in Santa Clara County is Vizcaya, which features a Mediterranean style of architecture in a community that is extremely tidy and well maintained. Driving in, it feels like you’ve just arrived at a resort.

Where is Vizcaya?

The Vizacaya neighborhood is in San Jose just off S Bascom and Curtner Avenues, but is close to the Campbell border and confusingly, has a Campbell mailing address. The community’s streets are Vizcaya Circle, Vizcays Way, and Pescara Court. The location is very convenient, with easy access to shopping, bus lines, and major traffic routes.

What are the homes like at Vizcaya?

Built between 1990 and 1996, these 92 townhomes are younger feeling and tend to have fairly open floor plans and plenty of large windows. The home sizes range between 2396 SF and 2656 SF, but many are so nicely designed that they tend to feel like single family homes.  Lot sizes average around 4,100 SF (pretty big for a townhouse). The parcels range in size from  2480 SF to over 10,000 SF but most are 3000 – 5000 SF.

The homes in the Vizcaya community are condominiums with a townhouse architectural style. (Some townhouses are held in PUD ownership. In some locations, such as Almaden and Los Gatos, there are houses which are condos – or held in condo ownership.) There’s a small pool and spa at the center of the complex for residents to enjoy. The day I took the photos shown in the gallery, below, painting was ongoing next to the pool, so it isn’t shown.

 

 

What does it cost to buy a townhome in Vizcaya?

These upscale properties don’t come on the market too often, but if you are lucky enough to find one available to buy, chances are that it will cost a million dollars or a more (as of this writing in October 2016).

 

 

 

 

Annual Egyptian Festival of San Jose

The 7th annual Egyptian Festival of San Jose is later this month, August 22nd and 23rd, in Campbell. It is hosted every year at the St. George and St. Joseph Coptic Orthodox Church. The church is also a great place for those who appreciate architecture, as it is the only church in Northern California which features Coptic architecture.

As with most festivals around the valley, food will be a key feature, and a delicious one! There will be food for carnivores, vegans, and sweet tooth-ed people alike. Entertainment is plentiful with live music and family friendly dance performances. There’s even a movie night! The evening on the 22nd, there will be a classic Egyptian film (English subtitled) shown under the stars. The Kids Zone will have carnival games, face painting, and henna. A Bazaar will sell Coptic goods, souvenirs, Egyptian clothing, and much more. A silent auction will also be held. The church will be open with presentations for those who are interested in learning about the rites and rituals in Coptic Christianity, living in Egypt, or take a class on Hymnology or Iconography, and those who would like to enjoy the architecture.

Less than a mile from the Los Gatos Creek Trail, why not bike over and get your fill of the fun at the Egyptian Festival.

For more information visit the festival’s website. You can also like them on Facebook to hear more about updates and events.

http://www.egyptianfestivalca.com/home/

https://www.facebook.com/egyptianfestivalca

 

 

 

Campbell’s “Skull and Crossbones” House

Here’s a Campbell house which is always in the spirit of Halloween. If it has a name, as homes in Carmel always do, it should be called the  “skull and crossbones house“.

Campbell skull and crossbones house 1 Small

Have you noticed it? Look closely at the porch railing and you’ll spot an unusual design pattern cut into it. This house certainly has personality!

What do you think?  Is this good decor for a home year round?  (And it’s not even Halloween and this isn’t even my haunted real estate blog  since we’re talking decor, not spooks.)

Campbell skull and crossbones house 2

 

 

 

Appreciation in several west valley zip codes: median sale price year over year

Appreciation by west valley zip code for July median sale priceHome values in Silicon Valley have been rising over the last few years, and in some segments the appreciation has been incredibly steep.  This happens when a big influx of home buyers want to purchase but the supply of real estate inventory is too limited for the demand.  This is happening in the most popular areas especially: those with either short commutes, great schools, a vibrant downtown, or some combination of these three.

Today I wanted to look at the median sale price of houses which closed escrow in July 2014 and the preceding few years for the same month only in a handful of zip codes in San Jose and Los Gatos along the west valley areas.  Considered for this study are 95070 – Saratoga, 95030 7 95032 – Los Gatos & Monte Sereno, 95008 – Campbell, 95124 – Cambrian area of San Jose, and 95120 – Almaden Valley area of San Jose.  The only month plotted is July for each year.

When charted, it appears that most of these west valley areas are appreciating somewhat steadily, though 95032 came down in the month of July 2014 as opposed to 2013 (one month does not make a trend, and please remember that ONLY July for each year was considered here).  At the other end of the spectrum is Campbell, 95008, which has been immensely popular in recent years.

Next let’s take a look at the numbers themselves for July in the years 2010 – 2014.

 

Median sale price for west valley zip codes

 

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Which areas in Silicon Valley are the most European feeling?

Beckwith Building in Downtown Los Gatos, CA

The beautiful Beckwith Building in downtown Los Gatos, California

I have been fortunate to have made 5 trips to Europe, one of them lasting 9 months, and will be returning again before the end of 2013 (this time to Belgium).  It is so diverse, beautiful and compelling! Having experienced a little culture shock myself (when living in Florence, Italy, for one year of university), I’m very sympathetic about how hard an international move can be, and I understand that for Europeans moving to Silicon Valley, there can be an acute culture shock, particularly for those coming from more rural areas.

The bulk of Silicon Valley is located in Santa Clara County, which is at the southern end of the San Francisco Bay.  In this county, there are approximately 1.8 million people, almost a million of them in the city of San Jose.  Some areas, or districts, of San Jose have a distinctive character and are almost like towns or small cities themselves.  So in this article I’ll mention both cities and towns, but also areas or districts of San Jose, which might appeal to our European transplants.   Most of my comments will reference Santa Clara County or “south bay” locations, but I will also mention others on the San Francisco Peninsula and SF Bay Area too.

Architecture, Urban Centers and Charm

It is an unfortunate negative in Silicon Valley that much of our housing consists of ranch style tract homes, and truthfully, they are not exactly a work of art.  New or newer homes tend to be on very tiny parcels of land (or “lots”) and for many people may simply feel too congested or crowded. But there are beautiful residential neighborhoods – you just need to know where to look!  In many ways, the areas with higher charm can make our global home buyers feel more comfortable than if they were faced with only track, ranch neighborhoods.

Do you value unique, older architecture with Victorian, Craftsman, Tudor or other home styles? Then check out these areas:

  • Within San Jose: the Japantown, Vendome, and Naglee Park areas of downtown San Jose. Also in central San Jose are the Rosegarden, Shasta Hanchett and Burbank neighborhoods which all boast some lovely older homes.  Or, if you love classic Spanish Revival style homes with views, consider the old Alum Rock area of San Jose near the country club (golf course).  The Willow Glen area of SJ (zip code 95120) is full of lovely old established neighborhoods with historic homes and tree lined streets.  If your job takes you to downtown San Jose, all of these areas will be fairly close.

Please read the rest of this article on the Move2SiliconValley.com website:

http://www.move2siliconvalley.com/which-silicon-valley-areas-are-the-most-european-feeling/

Market Mapper for Los Gatos and Nearby Communities – at a Glance

Below please find a “market mapper” app that will let you click on the various nearby areas (Los Gatos, Monte Sereno, Saratoga, Almaden, Cambrian, Campbell) to see how that real estate market area is doing right now, in real time (updated weekly).  Hope you find it a quick and fun way to get a pulse on this part of the Silicon Valley real estate market!