How is the Campbell real estate market? Campbell is still in a strong seller’s market with signs it’s coming out of peak spring activity. 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 dipped, but is red hot at 106.7%.
- Turnover was extremely fast with an average sale in 19 days on market.
- The data shows some ups and downs from the month before, but it’s still a scorching hot market compared to past years!
The Campbell, CA Real Estate Market
It’s hard to predict what’s coming next with all that’s happened since spring 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 seen those numbers again (and sometimes many more!) in the 2021 market with a long (and growing) backlog of demand. Competition is high enough that we aren’t seeing many buyers with normal contingencies. This summer we can reasonably anticipate a decline in activity from a spring peak, but the real estate market will probably remain hot throughout the year. 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:
As of September 16th the Altos chart showing Campbell, CA single family homes is in a strong seller’s market with stable market action, low inventory, and an extremely fast median days on market. Homes are still 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 is hot with some up and downs in summer, and this August data reflects that. Closed sales have risen above last month and last year. Active inventory plunged month-over-month and fall short of last year. Pending sales are stable from last month and high year-over-year. The sales to list price ratio also cooled a bit since last month, although it’s still red hot and well over last year at 106.7% of asking! Homes are selling quickly in an average of 19 days on market, and overall the Campbell single family homes are in a hot seller’s market!
|Trends At a Glance||Aug 2021||Previous Month||Year-over-Year|
|Median Price||$1,760,000 (+1.1%)||$1,740,000||$1,450,000 (+21.4%)|
|Average Price||$2,009,520 (+6.9%)||$1,880,180||$1,607,180 (+25.0%)|
|No. of Sales||31 (+29.2%)||24||22 (+40.9%)|
|Pending||37 (0.0%)||37||28 (+32.1%)|
|Active||16 (-42.9%)||28||22 (-27.3%)|
|Sale vs. List Price||106.7% (-2.0%)||108.8%||102.5% (+4.1%)|
|Days on Market||19 (+14.5%)||16||19 (+0.4%)|
|Days of Inventory||15 (-55.8%)||35||30 (-48.4%)|
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 not quite as hot as single family homes in Campbell right now. The market action has leveled out after a dip, days on market are extremely low, and inventory doesn’t look like it will catch up anytime soon. There is a strong seller’s market in Campbell condos.
Campbell Condo Market Trends at a Glance
August had some ups and downs for the Campbell condo market, but remained fairly stable overall. Closed sales were steady month-over-month and remain well above last year. Active listings dropped month-over-month and fell below last year. Pending sales shrank a hair from the month before, only a drop in the bucket year-over-year. Days on market kept the pace with a 19 day average, and the sales vs list price ratio dipped to 102.6% of asking. Overall, it’s a hot seller’s market in Campbell with plenty of activity.
|Trends At a Glance||Aug 2021||Previous Month||Year-over-Year|
|Median Price||$950,000 (+5.3%)||$902,000||$825,000 (+15.2%)|
|Average Price||$933,973 (+2.6%)||$909,956||$951,300 (-1.8%)|
|No. of Sales||23 (0.0%)||23||10 (+130.0%)|
|Pending||11 (-35.3%)||17||15 (-26.7%)|
|Active||13 (-7.1%)||14||23 (-43.5%)|
|Sale vs. List Price||102.6% (-1.1%)||103.8%||101.5% (+1.1%)|
|Days on Market||19 (-5.7%)||20||17 (+12.1%)|
|Days of Inventory||17 (-7.1%)||18||69 (-75.4%)|
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.
The pricing peak in early 2018 was finally topped in almost all sectors during the first quarter of 2020. But that year hasn’t held the record for long – early 2021 blew past 2020 highs and all sectors are still above (and some well above) where they were this time last year.
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.
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