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 NOTE: Just now I looked at the pending sales online. If we consider only resale, not the homes at Cully Place, there are 25 houses which are pending (no contingencies) and the average days on market for them is a mere 7. The largest days on market is 15! This is an indicator that the market is white hot – pending sales are an early warning to buyers taking their time that conditions are swinging more deeply into the sellers’ favor.

This is very much what Clair and I are seeing across the valley. We’ve learned of many homes that sold within a week in which there were multiple offers, sometimes more than 10, with the resulting sale 15 – 20% over list price! It’s not limited to one area or another but truly seems to be all over, particularly for houses under $ 2million.

The chart below is from the RE Report. Home prices are up both monthly and annually by a solid amount. The sale to list price ratio rose again. It remains a strong seller’s market in Cambrian Park with just 12 days of inventory and 106.6% sale price to list price ratio.

Trends at a Glance

Trends At a GlanceJan 2024Previous MonthYear-over-Year
Median Price$1,755,000 (+0.4%)$1,747,780$1,576,500 (+11.3%)
Average Price$2,032,290 (+6.8%)$1,902,930$1,552,860 (+30.9%)
No. of Sales17 (-45.2%)3114 (+21.4%)
Pending32 (+45.5%)2220 (+60.0%)
Active(+16.7%)621 (-66.7%)
Sale vs. List Price106.6% (+2.0%)104.5%100.0% (+6.6%)
Days on Market15 (+22.8%)1323 (-32.1%)
Days of Inventory12 (+112.7%)645 (-72.5%)

 

 

 

Cambrian Park Altos Research Charts

 

Here’s a different kind of chart 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, live and updated weekly.  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.

A quick note: most of 95118 has San Jose Unified Schools, while most of 95124 has Cambrian and Union schools, which are normally preferred.

The Cambrian Park Real Estate Market Update for San Jose 95124

These charts have great info, including the monthly average for Cambrian park homes for rent.

 

San Jose, CA 95124 Real-Time Market Profile by Altos

 

Overall San Jose 95124 remains in a strong seller’s market.

 

The Cambrian Park 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 – though it can be even more pronounced when demand isn’t as high and inventory isn’t so low.

And below, market data from Altos for this part of the district.

 

Cambrian 95118 Altos Real-Time Market

 

Inventory in 95118 is severely lacking, prices are up, and overall it is strong seller’s market.

Cambrian Condominium and Townhouse Real Estate Market

Please see the Condominium & Townhouse Real Estate Report for more data and analysis of this area and the rest of Santa Clara County!

The condo and townhome market shows weakening in prices, but it’s only 9 sales and these could all be smaller, or homes in lesser locations, or other issues, so it does not necessarily mean that home values are falling. Other market indicators are fairly strong, such as the days on market and days of inventory. Inventory is rising, though – good news for home buyers at last.

Trends at a Glance

Only one closed sale in January is skewing the data here.

Trends At a GlanceJan 2024Previous MonthYear-over-Year
Median Price$629,000 (-7.5%)$680,000$631,500 (-0.4%)
Average Price$629,000 (-18.4%)$770,889$631,500 (-0.4%)
No. of Sales(-88.9%)9(-50.0%)
Pending(+200.0%)1(-57.1%)
Active(-14.3%)7(+200.0%)
Sale vs. List Price100.0% (-0.5%)100.5%99.0% (+1.1%)
Days on Market34 (+102.6%)1713 (+172.0%)
Days of Inventory180 (+671.4%)2330 (+500.0%)

 

Now let’s work with Altos Research’s graphs and get a feel for the realty market in “real time.” These use list prices, whereas my RE Report uses sold data.

Condo and Townhome Altos Research – San Jose 95124 & 95118

Quick profile of 95124 and 95118 from Altos – this is dynamic and should update automatically each week:

 

Cambrian 95124 Real-Time Market Profile by Altos

 

and

 

Cambrian 95118 Real-Time Market Profile by Altos

Here, both 95124 and 95118 remain a strong sellers’ market. With such small inventory these charts can have severe swings in data, so take it with a grain of salt. The bottom line is that the Cambrian Park real estate market is nearly always hot in some segments, especially when the home has no major location flaws and is priced competitively.

What is happening with the Cambrian Park real estate market?

A lot of it seems to depend on the price point, school district, and condition of the property and also the number of bedrooms.

Each bedroom is worth many tens of thousands of dollars (could be $80,000 to $100,000 for each extra bedroom over 3). Today I saw two homes listed just under $2 million that sold for more than $2.5 million in Cambrian in June, one with 4 bedrooms and the other with 6. (See What is a bedroom worth?)

Turnkey houses, townhomes, and condominiums in Cambrian Park which have a contemporary look and are priced aggressively are selling fast and high. They need to look like 2019 or newer and not like 2010 or older, though. Home buyers can be fussy about finishes, and with more homeowners and families stuck at home for work or school they don’t want to spend the extra time or the energy to remodel. (Most buyers are especially picky about floor coverings and cabinetry!)

That said, in this raging market and with such scarce inventory, buyers are becoming less picky and just about any home will sell if priced and marketed correctly.

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 property.

The part 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. When Cambrian Park Plaza is redeveloped, it will be a giant draw to anyone within a mile for the dining and shopping.

Looking Deeper

How's The Silicon Valley Real Estate Market? 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 Cambrian Park 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. However, all real estate is local. 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 house – 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.

Related:

Cambrian Park 95124 homes for sale

Cambrian Park 95118 homes for sale

 

Mary Pope-Handy and Clair Handy, Realtors selling homes in The Valley of Heart's Dellight
Looking to sell or buy a home? Mary Pope-Handy and Clair Handy sell throughout Santa Clara County,  including and especially Cambrian, and sometimes into nearby counties also. Please reach out to us by email if you’d like to set up a time to talk by phone for an initial appointment. The best email to use is mary@popehandy.com – thank you!