The Cambrian Park Real Estate Market Update

Cambrian Park Real Estate Market graphicThe Cambrian Park real estate market remains a strong seller’s market.

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

QUICK STATS from the MLS today, April 10, 2024:

  • 33 single family homes (SFH) for sale in Cambrian (MLS area 14)
    • 19 of these are NOT syndicated right now
    • 12 are “members only, do not show”
    • 7 are “members only, show” – if buyers are only looking at the big portals, they will be unaware that 7 additional homes are for sale!
  • 0 contingent sale (most sales have no contingencies right now)
  • 40 SFH which are “sale pending” (no contingencies)
  • 52 houses sold in the last month
    • Average list price $1,673,149
    • Average sale price $1,908,608
    • Average sale price to list price ratio 116% (lowest was 99%, highest was 182% !!!)
    • Average home square footage 1606 SF
    • Average lot size 6,999 SF
    • Lowest sale price $1,330,000
    • Highest sale price $3,275,000

The chart below is from the RE Report.  The number of sales continues to rise – not that there are 40 pending sales and 26 closed ones! With just 15 active listings, it seems like nearly everything is selling well.

Trends at a Glance

Trends At a GlanceFeb 2024Previous MonthYear-over-Year
Median Price$1,932,500 (+10.1%)$1,755,000$1,525,000 (+26.7%)
Average Price$1,996,490 (-1.8%)$2,032,290$1,584,780 (+26.0%)
No. of Sales26 (+52.9%)1719 (+36.8%)
Pending40 (+25.0%)3228 (+42.9%)
Active15 (+114.3%)724 (-37.5%)
Sale vs. List Price112.0% (+5.1%)106.6%103.3% (+8.4%)
Days on Market(-50.6%)1519 (-60.0%)
Days of Inventory16 (+30.8%)1234 (-52.6%)

 

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Saratoga CA Real Estate Market Update

Orchard and Hills in Saratoga, California - photo for article on the Saratoga CA real estate market

Orchard and Hills in Saratoga, California

The Saratoga CA real estate market is a strengthening sellers’ market for single family homes :

  • the average sale price rose both monthly and annually
  • inventory of Saratoga houses for sale is up from last month but still down from a year ago
  • the sale to list price ratio rose to 106.8%, indicating a strong selling market

How’s the Saratoga CA real estate market?

Saratoga has a diverse real estate market due to a wide range of home prices, square footage, lot sizes, school districts, and more. The luxury tier, generally $4 million and up (but in Saratoga, that’s really still just a house in an expensive part of town) normally moves slower than other price points. Saratoga’s entry level housing is usually the strongest. If the numbers swing wildly at any given month, it could be that more or fewer homes in a particular school district and pricing tier.

To really understand the Saratoga CA real estate market, you’ll need to get hyper local data for that home’s pricing tier, school district, and any other impactful data points.

 

Trends at a Glance for the Saratoga CA Real Estate Market

Here’s a quick overview from the RE Report details below or please view the full data here.

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$4,200,000 (+2.4%)$4,100,000$4,125,000 (+1.8%)
Average Price$4,299,500 (+10.4%)$3,893,210$4,166,240 (+3.2%)
No. of Sales21 (+200.0%)716 (+31.3%)
Pending13 (-13.3%)1514 (-7.1%)
Active21 (+31.3%)1623 (-8.7%)
Sale vs. List Price106.8% (+4.1%)102.6%102.2% (+4.5%)
Days on Market23 (-68.2%)7319 (+24.8%)
Days of Inventory30 (-53.1%)6443 (-30.4%)

 

 

Altos Research real estate market data for Saratoga, CA single family homes

Next, a quick glance at the Altos Research market profile for a quick summary of the Saratoga CA real estate market conditions. Altos uses LIST prices, not sold prices, for this chart and the others, below.

Market profile for Saratoga CA 95070

 

Real-Time Market Profile Saratoga, CA 95070

 

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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 in a strong seller’s market that continues to outstrip 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 is growing inch by inch with 13 active listings at the end of March, still just a drop in the bucket! 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 rose to 110.8% of asking – that’s red hot, though it is a hair behind this time last year’s numbers.
  • Average and median sales prices are up +7.9% and +6.4% from last year respectively, but haven’t moved too far from the month before.
  • Average time on market sped to just 9 days while market absorption slowed to a slightly longer 26 days.
  • Closed and pending sales continued to rise above last month and last year despite lower available inventory year-over-year.

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 – the Bay Area still has a severe housing shortage and buyers are 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:

 

Campbell Altos Real-Time Market Profile

The Altos chart is showing Campbell, CA single family homes in a strong seller’s market with a recent incline 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:

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City of Santa Clara real estate market

Santa Clara real estate market - The Santa Clara Women's Club http://www.santaclarawomansclub.org/

The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/

The real estate market in the city of Santa Clara, like the rest of Silicon Valley, is one which continues to be impacted by low inventory and extremely high demand.

  • The March sale to list price ratio rose to 115.8%, well over asking price and well above this time last year.
  • Available inventory, closed, and pending sales all rose month-over-month. Year-over-year closed and pending sales are up while inventory lags far behind.
  • Time to sell sped to an average of just 9 days on market, while the average days of inventory (or market absorption) sped to 17 days.
  • Prices didn’t move far month-over-month, and are up about 22%-23% from last year.

Prices in Santa Clara rose astronomically through 2021 and in the first half of 2022. I grew up in that city and was amazed to see that the average and median sales price was hovering around $2 million during the hottest months of 2023! That dropped off around fall and winter, as anticipated, but by February 2024 the average sales price has already topped that $2 million marker!

The Real Estate Market for the City of Santa Clara

Below there are charts for the market activity over the last few months for single family homes in Santa Clara. Market activity has been high for years, and dispite some ups and downs over the last year, it remains high today. Low inventory across the valley means there is still a greater demand to fill than properties available. Further down in the article, we’ll check in on the condo market, too.

First, a market profile, automatically updated weekly, for the city of Santa Clara (these reports are available by zip code, too, and for condos/townhomes as well as single family dwellings). Check out the weekly Altos report HERE and click on subscribe to get weekly updates on all of Santa Clara or any particular zip code. (Scroll to the bottom and check out the profile of houses across 4 pricing quartiles – super interesting.)

 

Santa Clara Real-Time Market Profile

According to Altos, it’s a strong seller’s market with elevated market action. Though there was a clear dip in market action during fall and winter it’s beginning to turn around into spring.

Data from my Real Estate Report

Next, stats at a glance for the Santa Clara real estate market for single family homes.

Demand remains high, however buyers don’t have the same purchasing power that they had in 2021 or early 2022 and many have become more choosy or have dropped out of the competition entirely. Many homeowners are unwilling to part with their properties and low mortgage rates in the current market environment, so available inventory remains low.

Have a look at the market by the numbers below, or visit my RE Report page for Santa Clara stats here.

Trends at a Glance

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$1,954,440 (-0.7%)$1,967,500$1,604,440 (+21.8%)
Average Price$2,041,990 (+0.9%)$2,024,270$1,657,070 (+23.2%)
No. of Sales32 (+77.8%)1828 (+14.3%)
Pending38 (+46.2%)2621 (+81.0%)
Active18 (+20.0%)1524 (-25.0%)
Sale vs. List Price115.8% (+3.7%)111.7%106.6% (+8.7%)
Days on Market(-56.5%)2013 (-32.9%)
Days of Inventory17 (-27.7%)2326 (-34.4%)

 

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Saratoga Oaks Townhouse Community Near Downtown Saratoga Village

View of street within Saratoga Oaks townhome community in Saratoga, CAThe exquisite Saratoga Oaks neighborhood is nestled between downtown Saratoga and the beautiful coastal foothills, close to the famed Hakone Gardens.  With both pools and tennis courts and a location just a block or so from tony Saratoga Village (click to see slide show), it is resort living in Silicon Valley at its finest. But this is not just a place for retirees who want to downsize, though they are also drawn here – families with kids also move to Saratoga Oaks to make use of the top rated schools.

Which public schools serve this neighborhood?

Saratoga Oaks is within the very highly regarded Saratoga Union School District. Although many other school districts in Santa Clara County assign children in homes to particular schools, Saratoga does not – it is an “open” school district. If there’s space and if the home is within the district, you may be able to chose which of the excellent Saratoga schools you wish for your student to attend. The nearest public school is Saratoga Elementary on Oak Street, but you may find enrollment instead at Foothill Elementary or Argonaut.  The higher level schools are Redwood Middle School and Saratoga High School.  California has transitioned to new school assessment, away from the old 2010 API scores, but you can check the new Saratoga Union School District “Report Cards” here. Additionally, there are two excellent private elementary schools nearby: Sacred Heart (Catholic) and St. Andrew’s (Episcopalian).

Where is Saratoga Oaks?

Saratoga Oaks Townhouse community in Saratoga, CA (map) - click on image to see live Google mapThe Saratoga Oaks community is within the city of Saratoga, California, and is a part of Silicon Valley and what’s locally referred to as “the south bay” area. It can be reached either via Springer Avenue, off of 4th Street in Saratoga or from Springer off of Big Basin Way (aka Hwy 9 or Congress Springs Road). This townhouse complex is literally where the town meets the hills – so it is not at all uncommon to find deer in the open spaces! Click on the map image to go to the live, interactive Google map. (more…)

Understand the Pros and Cons of Homeowners Associations in Silicon Valley

The Pros & Cons of HOA Homeowners AssociationsHomeowners Associations (HOAs) are created to oversee condominium complexes, townhome communities and planned unit developments (PUDs) on behalf of their members. These are non-profit organizations whose purpose is to manage common areas, enforce neighborhood rules and standards, and often, unofficially, to foster community unity too. In most cases, they collect fees from members and have local authority. In other words, if you do not pay your homeowner association dues, or abide by one of its rules*, the HOA can and usually will fine you or even foreclose on you!

There are loads of HOAs in Silicon Valley. As with all organizations, some are better run than others. Its a little different than owning real estate outside of a homeowners association.

What are the pros and cons to Homeowners Associations?

At their best, Silicon Valley HOAs keep the communities they manage beautifully landscaped and maintained, they hire good providers for needed improvements, and minimize risk to all the members. By having reasonable rules and community buy-in, the neighborhood can look inviting and property values can be better maintained.

At their worst, HOAs can be unresponsive to members needs, erratic, arbitrary and irresponsible. They may, by poor planning, cause huge assessments to be necessary or raise HOA dues so that they are very high – to the point where they make homes hard to sell. Not only are those an unhappy occasion, they can also make it hard to sell a home with a special assessment looming. Fortunately, this is seldom the case in most areas – but if the HOA has a high number of defaults due to owner bankruptcy or inability to keep up with mortgage, property insurance etc. it can cost all of the members eventually.

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Buying, Selling and Moving Homes with Kids in Silicon Valley

kids with shadesSelling and buying homes can be exhausting and emotional, even overwhelming.  This level of stress can rise when children are involved as parents also “run interference” to a degree to help make the transition smooth for their kids.  Another added stresser is relocation to a new community far away.

What can parents and their real estate agents do to help the youngest members of the family to move as peacefully and contentedly as possible?

Communication about the moving process is key

Few of us like surprises that come on a big scale and change the way our lives are lived on a day-to-day basis.  This is also true for our offspring, for whom routine can be a comfort.   Just as you wouldn’t begin a vacation without explaining to your three year old that it’s only a trip and that you will later return home, so too it helps to explain to your child that the family is staying together, the toys, furniture and pets are coming along, but that the house or condo will be “new”.  Providing a sense of security and reassurance first can enable the process to be possibly even fun. (Young kids will think that the furniture and toys go with the house so will likely vocalize their preference for a new place with the most fun stuff unless they understand that their toys will move with them.) (more…)

How is that wood siding working out?

Damaged wood sidingWood siding is extremely common in the San Jose area and Silicon Valley as a whole, both on condominiums & townhouses and also on houses.  (We do not see a lot of vinyl siding here, as we might in other parts of the country.) Water is the #1 enemy of houses – even more than termites!  It is necessary to control water intruding into the wood, because if it gets in, fungus and rot can get a start on your home.

How do you prevent  water damage, fungus, and dry rot on wood siding?

Exterior wood needs to be painted about every five years or it can crack, peel, and otherwise allow moisture intrusion. If the wood is kept sealed, it can do very well against water. Another big cause of expensive wood repairs outdoors is earth to wood contact.  If you have ever built a fence, or had one made for you, you’ve probably seen that the best practice is to put the wooden posts into concrete rather than directly into the dirt.  The reason is simple: soil gets damp and the wood will wick up the moisture, whether it’s fence boards, posts, part of a wooden deck, or the siding on your home.  If the siding or other wood comes near the soil, the recommendation is to separate them one way or the other. In the photo I’ve included with this article, the siding of this townhome complex was allowed to touch the earth.  You can see the results: expensive repairs needed! The old saying goes that “an ounce of prevention is worth a pound of curse”.  It’s especially true with caring for wood siding and other times of wood on the outside of your home or in your yard.   If you can remember to do a walk-around every few months, at least twice a year, you are more likely to find the beginnings of issues before they become thousands of dollars.  Keep a schedule for painting and make sure you do it before it looks like it’s needed.  If you wait until there’s chipping and cracking, you may already have trouble!  Watch for earth to wood contact, and rake away the soil or take other measures to protect your siding. This is true for owners of townhomes too.  It seems like decades ago, home owner associations were often responsible for siding, but in the last few years I’ve been finding more and more HOAs make that the owner’s responsibility, even if the HOA is in charge of the painting schedule.    Make sure that you have a look at your siding regularly so that you can stop fungus and dry rot in their tracks and prevent a small headache from becoming extremely costly. Finally, it’s a good idea to have a pest inspection (termite inspection) every 3 to 5 years to nip any issues in the bud. Related reading: What Is Cellulose Debris (in a pest or termite report)?

 

 

 

Los Gatos and Saratoga Condominium and Townhouse Market

Saratoga and Los Gatos are neighbors, but their real estate markets are not the same! Today we’ll consider the condo and townhouse market in these two upscale Silicon Valley areas and view some elements “side by side”. See what you think!

First, let’s have a peek at how fast things are selling. Saratoga & Los Gatos both are at under 3 week for the “days to sell over time”.  Saratoga tends to sell a little better than Los Gatos for condominiums and townhomes, and that’s the case now as well – at least months months, and recently. (Reasons, not sure – perhaps because the location is a little closer to Cupertino and Sunnyvale and the many high tech jobs there.  Or it could be related to the school scores or any number of factors.)

 

Saratoga days to sell over time 2014 - condos

Saratoga days to sell over time 2014 – condos

Los Gatos days to sell over time 2014 - condos

Los Gatos days to sell over time 2014 – condos

 

 

 

 

 

 

 

 

 

 

 

 

 

Let’s check some other criteria and see how they stack up there. Let’s look at the new listings as opposed to the solds.  How far apart are they? (The closer they are, the “hotter” the market. If the solds are going faster than the new listings are coming on, it’s a red hot seller’s market.)   For most of the last year, Saratoga condominiums have been selling and closing faster than new ones have entered the market, or have tied it, except for March and April.  In Los Gatos, same pattern recently of new listings outpacing sales, and in January the closed sales outpaced new inventory.  But overall, it’s close to a tie or there’s a slight leaning toward new listings rather than sales unless you look back to last fall.  So a little bit cooler of a market in Los Gatos by this standard.

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Cambrian Park Homes & Real Estate For Sale

San Jose’s Cambrian Park neighborhood offers a variety of home types, sizes, and price ranges, from small condos to large houses on big lots.  Below, please find virtually all MLS listed properties currently for sale in the Cambrian Park Area with zip codes of 95124 and 95118. The info is updated automatically, so please check back often! (You can narrow your search by selecting only certain home types, sizes, etc.  Below are four groupings, by zip codes and home types, to cover all residential real estate available right now in 95124 & 95118.

95124 Single Family Homes:

  • List View
  • Map View
  • Grid View

See all Real estate matching your search.
(all data current as of 4/15/2024)

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

 
 

95118 Single Family Homes:

click on link below to see these and more…

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