How is the Campbell real estate market? Campbell is still in a strong seller’s market, but like the rest of the county, is looking warmer than it was in spring.
It’s hard to predict what’s coming up next with all that’s happened since March. The charts are beginning to show the impact of the pandemic on the 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.
During the shutdown so far, 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. 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 started to see those numbers again as restrictions on the market ease. However, we are still seeing buyers bring in offers with normal contingencies, particularly if there are not any competing bids. With the restrictions on showings and real estate in general, these numbers may still be low, especially if there is delayed market activity from spring.
Here’s a quick view of the Campbell real estate market stats from Altos Research, using LIST prices:
As of September 13th this chart showing Campbell, CA is in a strong seller’s market with rising market action and shrinking inventory.
And now – here are some quick stats, care of my RE Report for Campbell:
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.
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.
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!
The 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.
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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(all data current as of 9/27/2020)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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. Continue reading
One 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).
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.
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“.
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.)