My Cambrian area of San Jose Real Estate Report was recently published with the updated numbers from the closed sales last month for this part of San Jose (95124 and 95118 with a little of 95008 too). Please click on the link above to see much more information there.
In this district of San Jose, we have been experiencing dreadfully low inventory of homes for sale, and buyers aren’t backing off as much as usual for this time of year – I believe because there is just a whole lot of pent up demand from upwards of two years in a deep seller’s market. What does that mean? Sellers, if you have a problem home, or one not updated or well maintained, this is the time to sell it – buyers have little to choose from so are purchasing properties that need more work than they would bother with in a more balanced market.
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).
Be sure to read to the end to see the live Altos charts too – they are near the end of the article so please keep reading into the next page!
Cambrian single family homes trends at a glance
Sales and turnover are fast and steady, and the sales to list price has remained high, close to 108% for three months now and now topping 110%. It is a strong sellers market.
| Trends At a Glance | Oct 2017 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,195,000 (+3.9%) | $1,150,000 | $1,020,000 (+17.2%) |
| Average Price | $1,292,050 (+6.6%) | $1,212,070 | $1,065,180 (+21.3%) |
| No. of Sales | 59 (+1.7%) | 58 | 58 (+1.7%) |
| Pending | 65 (+20.4%) | 54 | 63 (+3.2%) |
| Active | 23 (-32.4%) | 34 | 59 (-61.0%) |
| Sale vs. List Price | 110.8% (+1.9%) | 108.7% | 102.0% (+8.7%) |
| Days on Market | 13 (+11.8%) | 12 | 23 (-44.2%) |
| Days of Inventory | 12 (-31.2%) | 17 | 31 (-61.7%) |
And the chart from last month:
| Trends At a Glance | Sep 2017 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,150,000 (-0.2%) | $1,152,000 | $980,000 (+17.3%) |
| Average Price | $1,212,070 (+2.5%) | $1,182,770 | $1,039,930 (+16.6%) |
| No. of Sales | 58 (-22.7%) | 75 | 77 (-24.7%) |
| Pending | 54 (+14.9%) | 47 | 58 (-6.9%) |
| Active | 34 (+36.0%) | 25 | 86 (-60.5%) |
| Sale vs. List Price | 108.7% (+0.5%) | 108.2% | 101.8% (+6.8%) |
| Days on Market | 12 (-2.4%) | 12 | 23 (-50.0%) |
| Days of Inventory | 17 (+70.0%) | 10 | 32 (-47.5%) |
Generally speaking it is still a hot seller’s market and great time to sell a Cambrian home.
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 – Lower inventory can make the market look unbalanced, but it’s not always so. With such low inventory big swings in data are common. The tiny numbers are not a large enough group to be truly representative of market values. Nevertheless, there are some clear trends. The average days on market has dropped and remains low at a meager 10 days. Sales to list price has dropped to 105.6%, which is still well above list price. This means homes are still regularly selling above list price in well under a month, and has been doing so consistently for many months, making this a stable, strong seller’s market.
The Real Estate Report for condo sales
| Trends At a Glance | Oct 2017 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $641,500 (-19.5%) | $797,000 | $657,500 (-2.4%) |
| Average Price | $659,400 (-12.1%) | $749,833 | $643,812 (+2.4%) |
| No. of Sales | 10 (-33.3%) | 15 | 16 (-37.5%) |
| Pending | 10 (-9.1%) | 11 | 3 (+233.3%) |
| Active | 1 (-75.0%) | 4 | 17 (-94.1%) |
| Sale vs. List Price | 105.6% (-1.3%) | 107.0% | 101.3% (+4.3%) |
| Days on Market | 10 (-12.7%) | 11 | 15 (-36.3%) |
| Days of Inventory | 3 (-61.2%) | 8 | 32 (-90.6%) |
And from last month:
| Trends At a Glance | Sep 2017 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $797,000 (-0.4%) | $800,000 | $601,000 (+32.6%) |
| Average Price | $749,833 (+3.5%) | $724,433 | $640,899 (+17.0%) |
| No. of Sales | 15 (0.0%) | 15 | 11 (+36.4%) |
| Pending | 11 (-15.4%) | 13 | 17 (-35.3%) |
| Active | 4 (0.0%) | 4 | 13 (-69.2%) |
| Sale vs. List Price | 107.0% (-2.3%) | 109.5% | 103.3% (+3.6%) |
| Days on Market | 11 (-48.4%) | 21 | 24 (-55.0%) |
| Days of Inventory | 8 (-3.3%) | 8 | 34 (-77.4%) |
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.
Next, the stats and trends by price quartile for houses in San Jose 95124: In 95124 we didn’t see the big departure from growth as seen in the rest of the zip as we saw in 95118 for early summer. But we do see very consistently rising prices throughout the area, with the higher priced homes appearing to have peaked and turned around. Median list price of homes for sale in 95124 and 95118 (all quartiles combined) :
As this graph indicates, homes in 95124 tend to sell for a bit more than those in 95118. In part, this is probably due to the fact that 95124 is in the Union and Cambrian School Districts, which many prefer to San Jose Unified (though part of 95118 is not in SJUSD). Part of it may have to do with some of the homes being on the Los Gatos border, which is highly desirable. And much of 95124 is a better commute location, with faster access to freeways. Inventory in Cambrian area of San Jose 95124:
95118:
Want to buy or sell in Cambrian Park? Please call or email me – let’s talk! Want more info on your neighborhood, your house, or your target home to buy? Please call me!
Browse real estate listings of Cambrian & Cambrian Park homes for sale San Jose 95118:
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$1,588,000 : 1515 Dentona PL, SAN JOSE4 beds, 3 baths
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$975,000 : 1268 Weathersfield WAY, SAN JOSE3 beds, 2 baths
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$980,000 : 1548 Kooser RD, SAN JOSE3 beds, 2 baths
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$1,148,000 : 5712 Condor CIR, SAN JOSE3 beds, 2 baths
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$1,099,000 : 5691 Park Manor DR, SAN JOSE3 beds, 2 baths
See all Real estate in the 95118 zip code.
(all data current as of
12/11/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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$1,588,000 : 1515 Dentona PL, SAN JOSE4 beds, 3 baths
-
$975,000 : 1268 Weathersfield WAY, SAN JOSE3 beds, 2 baths
-
$980,000 : 1548 Kooser RD, SAN JOSE3 beds, 2 baths
-
$1,148,000 : 5712 Condor CIR, SAN JOSE3 beds, 2 baths
-
$1,099,000 : 5691 Park Manor DR, SAN JOSE3 beds, 2 baths
See all Real estate in the 95118 zip code.
(all data current as of
12/11/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Find a Cambrian home: real estate listings of Cambrian & Cambrian Park homes for sale in San Jose 95124:
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$995,000 : 1717 Hydrangea LN, SAN JOSE3 beds, 2 baths
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$1,149,000 : 2277 Sunrise DR, SAN JOSE4 beds, 2 baths
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$1,294,000 : 2933 Bolla CT, SAN JOSE4 beds, 3 baths
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$1,640,000 : 5495 Copeland CT, SAN JOSE4 beds, 3 baths
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$1,198,888 : 15436 Woodard RD, SAN JOSE3 beds, 2 baths
See all Real estate in the 95124 zip code.
(all data current as of
12/11/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
-
$1,588,000 : 1515 Dentona PL, SAN JOSE4 beds, 3 baths
-
$975,000 : 1268 Weathersfield WAY, SAN JOSE3 beds, 2 baths
-
$980,000 : 1548 Kooser RD, SAN JOSE3 beds, 2 baths
-
$1,148,000 : 5712 Condor CIR, SAN JOSE3 beds, 2 baths
-
$1,099,000 : 5691 Park Manor DR, SAN JOSE3 beds, 2 baths
See all Real estate in the 95118 zip code.
(all data current as of
12/11/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
See also: Cambrian Park homes for sale
The post The Cambrian Park Real Estate Market Update appeared first on Valley of Heart's Delight blog.
