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Tudor style house on graphic that says - How's the Campbell real estate market?How is the Campbell real estate market? Campbell is still in a strong seller’s market this spring! This article, updated monthly, offers data and analysis on the residential real estate market within this popular Silicon Valley community. Here are a few points from the latest update on Campbell’s single family housing market:

  • The sales to list price ratio for home sales last month rose to a red hot 110.4%.
  • These sales had a quick turnover with an average of 18 days on the market.
  • Median and average sales prices rose roughly 23-28% year-over-year.

The Campbell, CA Real Estate Market

It’s hard to predict what’s coming up next with all that’s happened since March of 2020. The charts below certainly show the impact of the pandemic on the real estate market, but it will take a while to see the full picture. To read more about the Coronavirus impact on real estate sales, check my blog post on the topic.

At the beginning of the shutdown, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory in those months, though current numbers are now accurate.

If you’re selling, perhaps last summer you’d have gotten 4 – 6 offers on your well prepared, beautifully staged, and aggressively priced home for sale. Recently, we’ve started to see those numbers again (and sometimes many more!) as we enter a spring market with a long (and growing) backlog of demand. We aren’t seeing many buyers bring in offers with normal contingencies because of competing bids. As the vaccine rollout and reopening expands into spring and summer we may see further increased activity in the real estate market. We’ll just have to wait and see!

Here’s a quick view of the Campbell real estate market stats from Altos Research, using LIST prices:

Campbell Altos Real-Time Market Profile

As of May 12th the Altos chart showing Campbell, CA single family homes is in a strong seller’s market with stable market action, low and growing inventory, and low days on market. Things are hot in Campbell!

And now –  here are some quick stats, care of my RE Report for Campbell:

CAMPBELL real estate market trends and statistics

The market has been seeing clear spring warming, and this April data reflects that. Closed sales are stable from last month and sale pending sales have slipped from last month. Both remain more than double last year. Active inventory grew a hair month-over-month and remains well behind last year. The sales to list price ratio rose again, soaring above last month and last year, to a scorching hot 110.4% of asking. Homes are selling quickly in an average of 18 days on market. Overall the market is heating up with high demand. Campbell single family homes are in a very hot market, hotter than 2020.

Trends At a Glance Apr 2021 Previous Month Year-over-Year
Median Price $1,832,650 (+4.8%) $1,749,000 $1,440,000 (+27.3%)
Average Price $1,961,730 (-3.9%) $2,041,480 $1,584,570 (+23.8%)
No. of Sales 30 (0.0%) 30 14 (+114.3%)
Pending 34 (-5.6%) 36 12 (+183.3%)
Active 19 (+5.6%) 18 27 (-29.6%)
Sale vs. List Price 110.4% (+3.4%) 106.8% 103.7% (+6.5%)
Days on Market 18 (-15.3%) 21 24 (-24.6%)
Days of Inventory 18 (+2.0%) 18 56 (-67.2%)

And last month in 95008:

Trends At a Glance Mar 2021 Previous Month Year-over-Year
Median Price $1,749,000 (+9.2%) $1,601,000 $1,495,000 (+17.0%)
Average Price $2,041,480 (+10.9%) $1,840,840 $1,507,350 (+35.4%)
No. of Sales 30 (+57.9%) 19 21 (+42.9%)
Pending 36 (+5.9%) 34 16 (+125.0%)
Active 18 (-10.0%) 20 24 (-25.0%)
Sale vs. List Price 106.8% (+0.7%) 106.0% 105.1% (+1.6%)
Days on Market 21 (+1.0%) 21 26 (-17.1%)
Days of Inventory 18 (-36.7%) 28 34 (-47.5%)

What about the Campbell CA condo market?

Usually condo markets show more fluctuation due to their smaller inventory with a great variety of properties. It’s currently stable in a strong seller’s market according to the live Altos chart below. Keep in mind, though, that fewer sales means low data which can make these statistics wonky. The Campbell CA condo market remains a sellers market, although a little cooler then the housing market.  See the full report for the Campbell California condo market here

Trends at a Glance

RE REPORT INFO – uses sold data, updated monthly:

Condo and townhome properties are looking a bit milder than the Campbell RE market for homes right now. The market action is holding steady, median days on market are low, and inventory is low. There is a strong seller’s market in Campbell condos.

Campbell Condo Market Trends at a Glance

April had some ups and downs for Campbell condos. The number of sales grew from last month and remain well above last year. Active listings and pending sales fell month-over-month, with available inventory in-line with last year and pending sales well above where it was a year ago. Days on market slowed to 32 days, and the sales vs list price ratio dropped to 103%. Overall, it’s a seller’s market in Campbell with plenty of activity.

Trends At a Glance Apr 2021 Previous Month Year-over-Year
Median Price $935,500 (+2.6%) $912,000 $980,000 (-4.5%)
Average Price $963,413 (+1.6%) $948,400 $932,444 (+3.3%)
No. of Sales 28 (+86.7%) 15 (+211.1%)
Pending 19 (-24.0%) 25 (+171.4%)
Active 12 (-29.4%) 17 12 (0.0%)
Sale vs. List Price 103.0% (-3.9%) 107.2% 103.2% (-0.2%)
Days on Market 32 (+51.2%) 21 (+294.8%)
Days of Inventory 12 (-63.4%) 34 39 (-67.9%)

And for last month:

Trends At a Glance Mar 2021 Previous Month Year-over-Year
Median Price $912,000 (+4.8%) $870,000 $921,800 (-1.1%)
Average Price $948,400 (+1.5%) $934,712 $891,081 (+6.4%)
No. of Sales 15 (0.0%) 15 13 (+15.4%)
Pending 25 (+92.3%) 13 11 (+127.3%)
Active 17 (-22.7%) 22 (+142.9%)
Sale vs. List Price 107.2% (+3.6%) 103.5% 102.1% (+5.0%)
Days on Market 21 (-24.8%) 29 20 (+8.6%)
Days of Inventory 34 (-14.1%) 40 16 (+110.5%)

 

ALTOS CHARTS

Next we’ll take a brief overview of the “big picture” in Campbell’s housing market by looking at statistics related to currently listed homes for both houses and condos or townhomes there. (Charts and data by Altos Research, to which I have a subscription and permission to use here.) Median list price of condos and single family homes in Campbell.

Median List Price for Campbell, CA 95008

This chart shows prices peaked around early 2018, but that number was topped in basically all sectors in the first quarter of 2020. All sectors are now above (and some well above) where they were this time last year.

Properties with Price Decreases for Campbell, CA 95008

These numbers – for both houses and condos – can only give you a broad picture of what’s going on. If there are no homes for sale in your townhome community and it’s in a great area, and you price it well etc., you should find it relatively easy to sell. But if there is too much supply (too many similar homes on the market), it will be far more challenging to sell. The residential real estate market, like everything else, is all about supply and demand. For information on your specific neighborhood, please call me or email me today.

For more reading on Campbell CA

Scenic Percolation Ponds in Campbell Serve Important Functions

A leisurely Sunday & photos of downtown Campbell

Campbell’s “Skull & Crossbones” house