- Single family home prices are down a little for Cambrian as a whole as compared to the month before.
- Houses sold in the Union School District are up month over month, but down year over year.
- The sale price to list price ratio is 101.1% for both houses and condos / townhomes.
- Pending sales of single family homes are down, but there are double the number of pending sales versus active listings. For condos it’s similar but not as extreme: 8 pendings versus 5 active listings in October.
- Homes with the best locations and schools are selling well.
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
Here is a good summary on the Cambrian real estate market. The RE Report is having some issues with reporting from the MLS, so this data may not be exact but we can still understand the current trends with this chart.
Trends at a Glance
|Trends At a Glance||Oct 2022||Previous Month||Year-over-Year|
|Median Price||$1,639,000 (+0.9%)||$1,625,000||$1,647,500 (-0.5%)|
|Average Price||$1,661,970 (-0.3%)||$1,666,320||$1,733,170 (-4.1%)|
|No. of Sales||48 (+2.1%)||47||66 (-27.3%)|
|Pending||67 (-17.3%)||81||85 (-21.2%)|
|Active||30 (-6.3%)||32||17 (+76.5%)|
|Sale vs. List Price||101.1% (-1.6%)||102.8%||110.5% (-8.5%)|
|Days on Market||24 (+15.3%)||21||11 (+110.8%)|
|Days of Inventory||19 (-5.0%)||20||8 (+142.6%)|
Multi year average sale prices of Cambrian houses sold each month
What are home values doing in Cambrian? The low point appears to have been in August (sales ratified in July). Prices have been flickering or hovering in a fairly tight band of pricing since then for Cambrian as a whole.
The same data but for homes with the Union School District. Here, the low point for pricing was in July, and values have been rising steadily since then.
Schools are a major drive of home values. Good schools will be compelling for buyers, and underperforming schools will keep home buyers from bidding as strongly (or perhaps writing an offer at all). Cambrian has a good variety of schools and some areas are truly micro-markets to due one or more of the assigned public schools.
Cambrian Elementary School District is next. This is a diverse area that includes charter schools. The high schools are Leigh or Branham, both highly regarded.
Next, the area with San Jose Unified School District, which means Pioneer High. The elementary schools include Almaden, Reed, and Los Alamitos – Great Schools gives them scores of 4, 6, and 8, so quite diverse.
This is the most affordable part of Cambrian generally (the area in the Los Alamitos attendance area will be at the high end of value for this section). This part of Cambrian also seems to be hovering within a fairly close band of pricing.
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. My observations are from the most recent data at the time of writing, March 10th. 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.
Market action has also been on a slight decline recently, which is happening throughout the county right now. 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. It’s interesting to see that there are more price reductions in 95118 versus 95124.
Inventory in 95118 is severely lacking, prices are up, and overall it is strong seller’s market.
Cambrian Condos and Townhomes
Please see the Condominium & Townhouse Real Estate Report for more data and analysis of this area and the rest of Santa Clara County!
This is a hot market with homes selling at 101.1% of list price. Even so, prices are down.
|Trends At a Glance||Oct 2022||Previous Month||Year-over-Year|
|Median Price||$680,000 (-24.9%)||$905,000||$901,250 (-24.5%)|
|Average Price||$814,271 (-9.9%)||$903,625||$945,883 (-13.9%)|
|No. of Sales||7 (-12.5%)||8||18 (-61.1%)|
|Pending||8 (+60.0%)||5||14 (-42.9%)|
|Active||5 (+25.0%)||4||9 (-44.4%)|
|Sale vs. List Price||101.1% (+2.6%)||98.5%||102.1% (-1.0%)|
|Days on Market||17 (+30.6%)||13||16 (+8.3%)|
|Days of Inventory||21 (+47.8%)||15||15 (+42.9%)|
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:
Here, both 95124 and 95118 remain a strong sellers’ market with a recent rise in market action. 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 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 and high. They need to look like 2019 or newer and not like 2010 or 2012, 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.
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.