Cambrian Park Real Estate Market graphicOne of the best ways to get a pulse on the Cambrian Park real estate market is to see what’s selling fast. Sometimes a few low sales will make the market look more sluggish than it is. For the Cambrian housing market, though, most single family homes are selling quickly, with multiple offers, and overbids right now. But not all. So let’s separate them out by time and see how it looks.

Fast sales are stronger sales: under 14 days is best for Cambrian Park realty sales 

Just now (as of March 10th) I pulled the single family home sales for Cambrian (mls area 14) for the last 30 days (mostly Feb but some Mar) and saw a huge difference between the homes that sell fast and those that do not. The turning point seems to be 14 days on the market between overbids and underbids.

Out of 42 properties sold in the last 30 days, 36 of them or about 86% sold in 14 days or less, with the average days on market (DOM) a lighting speed 5.25 days. For these fast selling homes the average list price $1,370,951 and average sale price $1,464,152 (averaging an overbid of $93,200 or approximately 106.8% of list price). Only 5 in that group sold below list with 3 selling at list price and most selling over asking.

Of the 6 remaining, which were on the market between 15 and 236 days, only 2 sold above list price, none at asking, and 4 sold below.

The remaining 6 sales or roughly 14% of the market had an average list price of $1,212,992 and an average sale price of $1,212,083. There were 2 overbids in this sector, ranging from an overbid of $39 K for a sale at $1.15 M to a $71 K overbid for a property that was listed at $999K, selling at $1.07 M. Selling bids averaged at – $908 for all 11, or less than 0.1% below list price. Now if we exclude those which overbid, the average below drops to -$28,875 or approximately 2.3% under list price. The average days on market for this group was a long 63.7 days, slightly quicker than last month’s average for the weak sales group.

It’s fair to say that the Cambrian Park real estate market is very different for sellers and buyers of the homes that go pending quickly versus those which do not.

Home buyer takeaway: if you are buying a Cambrian house and it’s a new listing, be prepared for multiple offers and overbids. If the property has been on the market over 2 weeks, the odds are good that the price will be softer and concessions more likely.

Home seller takeaway: it is crucial that your property sells quickly, in 14 days or less, to get highest net from the home sale. It’s a very strong market in your favor if you market your home properly!

 

Cambrian single family homes trends at a glance – numbers from the RE Report

Most of Cambrian was within our hottest segment which was analyzed above, so the general area stats will seem familiar.

Cambrian sales stats (MLS area 14)

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 Feb 2020 Previous Month Year-over-Year
Median Price $1,347,500 (+16.2%) $1,160,000 $1,100,000 (+22.5%)
Average Price $1,350,870 (+14.5%) $1,180,190 $1,159,030 (+16.6%)
No. of Sales 36 (+56.5%) 23 29 (+24.1%)
Pending 44 (+83.3%) 24 42 (+4.8%)
Active 18 (+20.0%) 15 56 (-67.9%)
Sale vs. List Price 105.5% (+4.6%) 100.9% 102.6% (+2.8%)
Days on Market (-78.9%) 44 18 (-47.0%)
Days of Inventory 14 (-28.4%) 20 52 (-73.1%)

 

As we can see from the chart above, this report shows that nearly everything is up from January. It’s a definite, hot seller’s market in Cambrian!

And to compare further, here is the chart from the month before:

 

Trends At a Glance Jan 2020 Previous Month Year-over-Year
Median Price $1,160,000 (-2.1%) $1,185,000 $1,175,000 (-1.3%)
Average Price $1,180,190 (-0.8%) $1,189,270 $1,248,280 (-5.5%)
No. of Sales 23 (-51.1%) 47 29 (-20.7%)
Pending 24 (+4.3%) 23 29 (-17.2%)
Active 15 (+66.7%) 9 40 (-62.5%)
Sale vs. List Price 100.9% (-0.9%) 101.8% 101.0% (-0.1%)
Days on Market 44 (+96.6%) 23 30 (+47.5%)
Days of Inventory 20 (+240.6%) 6 41 (-52.7%)

 

It is still a seller’s market and a decent time to sell a Cambrian home, though prices have just begun to rise again after some winter cooling overall (many homes are appreciating, so take it on a case by case basis – much has to do with the exact location, condition, etc.).
Please see the whole Cambrian Real Estate Report for charts, stats and more.
Other related Cambrian district resources:
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 in San Jose’s Cambrian area (also from my Real Estate Report) – with great schools and relatively affordable pricing, this market segment shows some cooling. February sales averaged at 102.5% of list price, and days on market have dropped since last month and last year. Active inventory has remained stable and low despite increasing sales and pending. Overall, Cambrian condos are hot right now.

Trends at a Glance – Cambrian condos

 

Trends At a Glance Feb 2020 Previous Month Year-over-Year
Median Price $817,561 (-3.8%) $850,000 $810,000 (+0.9%)
Average Price $852,312 (+5.9%) $805,167 $836,100 (+1.9%)
No. of Sales 10 (+66.7%) 6 (+100.0%)
Pending 13 (+8.3%) 12 (+44.4%)
Active (0.0%) 5 12 (-58.3%)
Sale vs. List Price 102.5% (+2.0%) 100.5% 101.1% (+1.4%)
Days on Market 25 (-24.6%) 33 32 (-22.8%)
Days of Inventory 14 (-44.0%) 25 65 (-78.4%)

 

And the month prior:

 

Trends At a Glance Jan 2020 Previous Month Year-over-Year
Median Price $850,000 (+12.5%) $755,750 $777,500 (+9.3%)
Average Price $805,167 (+2.3%) $786,950 $777,500 (+3.6%)
No. of Sales (-40.0%) 10 (+200.0%)
Pending 12 (+140.0%) 5 (+200.0%)
Active (0.0%) 5 (-16.7%)
Sale vs. List Price 100.5% (+1.7%) 98.9% 99.3% (+1.2%)
Days on Market 33 (-51.3%) 68 50 (-33.7%)
Days of Inventory 25 (+66.7%) 15 90 (-72.2%)

The Cambrian Park Real Estate Market Update for San Jose 95124 – ALTOS

Let’s do an update of 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, March 9th, 2020. 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 approaching $1.4 million and rising (all homes, from original or less good location to fully remodeled in the best location). Homes lower than $1 million may be in need of updating and remodeling, be on a busy road, or have some other issue.

 

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

 

The chart above shows the price per square foot has been on the rise and the median list price is trending upward. Despite a dwindling inventory, market turnover is remaining fast and market action is growing stronger. Cambrian’s 95124 is 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 much different between 95118 and 95124 – we’re seeing some of that now, though it’s more noticeable when demand isn’t quite as high.

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

 

Cambrian 95118 Altos Real-Time Market

 

Unlike 95124, prices per square foot may be lowering, but similar to 95124 the days on market are on the decline and overall market action is strong. This area is also a strong seller’s market.

Please see the Cambrian 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 REReport 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:

 

Cambrian 95124 Real-Time Market Profile by Altos

 

and

 

Cambrian 95118 Real-Time Market Profile by Altos

 

Again, both zip codes for condos in Cambrian Park are in strong seller’s markets right now. 95124 is slightly hotter than 95118, and the median price is higher.

 

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.

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 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.

 

See also:

What can you buy in Cambrian for about $1.25 million?

Cambrian Park homes for sale

Want to learn more about Cambrian Park real estate, the Cambrian district, Cambrian neighborhoods, school districts and zip codes? Please also see this article: Cambrian Park: Good Schools, Low Crime, Close to Los Gatos and Campbell. Cambrian neighborhoods can be located at the menu bar: Neighborhoods –> San Jose (all areas) –Cambrian Park (SJ).

 

 

 

ArabicChinese (Simplified)DutchEnglishFilipinoFrenchGermanGreekItalianKoreanLatinPersianPortugueseRussianSerbianSpanishUkrainianVietnamese

Join our monthly newsletter

* indicates required

Click to view the Privacy Policy

Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
Mary’s other resources
Silicon Valley real estate report
Real estate statistics and trends for Santa Clara County, San Mateo County, and Santa Cruz County

Live in Los Gatos blog
Los Gatos neighborhoods, history, businessses, parks, restaurant reviews, and more

Valley Of Heart's Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling
Categories