The Cambrian or Cambrian Park district is a popular residential market with good “bang for your buck.” It remains a strong seller’s market with clear spring warming. This article provides a detailed look at the residential real estate markets of Cambrian with live and monthly updates. Here are some points of note from the latest monthly update for Cambrian Park single family homes:
- The sales to list price ratio keeps rising, now at 115% of asking (113% in April)
- Days on market have accelerated from 10 in April to a mere 7 in May
- Days of inventory have likely moved up from 16 in April to 12 in May
The Cambrian Park Real Estate Market
The days of lockdown, PEAD forms, appointment only showings and other restrictions on home buyer activity seems to be coming to an end as a growing percentage of the population is vaccinated and the new cases of the coronavirus are falling.
Despite the softening pandemic, home buyers are still very motivated to get out of San Francisco and into more space in the suburbs – especially more yard, and more rooms in the house for separate “work from home” offices. Strong public schools remain a big draw.
Cambrian single family homes trends at a glance – numbers from the RE Report
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
|Trends At a Glance||May 2021||Previous Month||Year-over-Year|
|Median Price||$1,600,000 (+6.5%)||$1,503,000||$1,235,000 (+29.6%)|
|Average Price||$1,656,030 (+2.5%)||$1,615,810||$1,224,770 (+35.2%)|
|No. of Sales||75 (0.0%)||75||39 (+92.3%)|
|Pending||69 (+13.1%)||61||65 (+6.2%)|
|Active||29 (-29.3%)||41||44 (-34.1%)|
|Sale vs. List Price||115.0% (+1.8%)||113.0%||100.9% (+14.1%)|
|Days on Market||7 (-34.5%)||10||13 (-46.1%)|
|Days of Inventory||12 (-26.8%)||16||34 (-65.7%)|
It is a prolonged, strong seller’s market. Sellers and buyers today continue to face restrictions under the coronavirus order that affect the market. While homes may still be appreciating (on a case by case basis – much has to do with the exact location, condition, etc.), before you list you should know how your sale would be affected by these changes.
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 is usually popular and remains hot, although nowhere near as hot as the single family housing market! Last month condos saw clear warming. May sales averaged at 105.5% of list price.
Trends at a Glance – Cambrian condos
|Trends At a Glance||May 2021||Previous Month||Year-over-Year|
|Median Price||$735,000 (+18.2%)||$622,000||$660,000 (+11.4%)|
|Average Price||$827,719 (+19.6%)||$691,900||$752,500 (+10.0%)|
|No. of Sales||18 (+28.6%)||14||6 (+200.0%)|
|Pending||17 (+13.3%)||15||11 (+54.5%)|
|Active||8 (-27.3%)||11||14 (-42.9%)|
|Sale vs. List Price||105.5% (+2.8%)||102.7%||102.7% (+2.7%)|
|Days on Market||13 (+8.7%)||12||20 (-36.4%)|
|Days of Inventory||13 (-41.5%)||23||70 (-81.0%)|
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, May 12th. 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 at $1.475 million, fairly flat from last month.
The chart above shows extremely low days on market (for the third month in a row it’s showing zero median days!), gently increasing inventory, and stable elevated market action. Overall San Jose 95124 remains in a fiercely 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 – we’re seeing that now, though it can be more pronounced when demand isn’t as high and inventory isn’t so low.
And below, an update of the market data from Altos for this part of the district.
Inventory in 95118 is beginning to grow, days on market are extremely low (down to 7 median days here), and overall it is strong seller’s market with mostly stable market action.
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 RE Report 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:
Here, both 95124 and 95118 remain a strong sellers’ market. In 95124 there is lower market action for condos than in the single family market, but in 95118 that’s reversed with a slightly higher market action in condos compared to single family homes! However, with such small inventory these charts can have severe swings in data, so take this data with a grain of salt. Right now these both continue to look hot, although 95124 has slightly lower market action than 95118 and both have the same active inventory.
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.
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.
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).