This is a market activity report for Campbell CA which is considered part of the San Jose Metro Area. Campbell is an MLS designated area which includes the 95008 zip code. This report is comprised of statistical data from July 1st through July 31, 2017 extracted from our local Multiple Listing Service (“MLS”) as of August 1, 2017.
The real estate market remains crazy-hot for sellers. This is presenting “real” challenges for buyers as they compete in bidding wars for homes. Some Silicon Valley markets are hotter than others yet the entire bay area real estate market continues to see high buyer demand coupled with a limited number of homes for sale.
Let’s see how the July market measured up in the Summer heat!
July 2017 Single Family Homes Market Activity Report
- 17 Active Single Family Homes. An increase from 12 homes in the previous month.
- 23 Pending Sales (Under Contract). An decrease from 33 homes in the previous month.
- 33 Sold Homes. An decrease from 42 homes in the previous month
- Average List Price: $1,318,376
- Average Sale Price: $1,396,758
- Average Sale Price to List Price: 106.4%
- Average Days on Market: 16
- Absorption Rate: 0.5 months of inventory which equates to an extreme Seller’s market
A word of caution about statistical averages: The average list price and sold price is representative of the range of prices. Average prices are calculated by adding the total values of all homes and dividing that number by the number of homes listed and sold.
- $2,500,000 was the highest price home sold in Campbell in July 2017.
- $881,000 was the lowest price home sold in Campbell in July 2017.
Condos and Townhouses Market Activity Report July 2017
Condo living is not for everyone. Condos have rules and restrictions that govern what a homeowner can and cannot do. Buyers are advised to conduct a careful review of the Covenants, Conditions & Restrictions of a condo association before deciding to buy.
- 7 Active Condos / Townhouses. A increase from the previous month which had zero
- 3 Pending Sales (Under Contract). An decrease from 8 condos the previous month.
- 8 Sold Condos and Townhouses. A increase from 5 condos sold the previous month.
- Average List Price: $880,625
- Average Sale Price: $924,750
- Average Sale Price to List Price: 112.9%
- Average Days on Market: 15
- Absorption Rate: 0.9 months of inventory which equates to an extreme Seller’s market
- $1,293,000 was the highest price condo / townhouse sold in Campbell in July 2017.
- $710,000 was the lowest price condo sold in Campbell in July 2017.
Value Based Approach To Listing Campbell Homes for Sale
When listing a home for sale it is important to carefully analyze market trends and recent statistical data. Analysis and good use of data means the property will be positioned well for marketing designed to bring top dollar for the home.
The value based approach means we do not utilize an Automated Valuation Model (“AVM”) of homes. The location, condition, schools, and many other factors will impact the value of a home or condo. Homeowners who need to sell their home want a professional valuation for a current and accurate home value.
When selling a Campbell home, the process starts with a conversation to discuss your specific needs, wants, wishes and desires. When you are ready to get started, give me a call.
The Downtown Campbell Fall Wine Walk is September 27, 2017 starting at 6:00 pm.
One of the best year-round Farmer’s Markets in the bay area can be found Downtown Campbell. In addition to fresh produce and crafts, there is live music! The market is located at E. Campbell Avenue and N. First Street. It opens at 9:00 am and ends at 1:00 pm.
Campbell is a great place to live and play. If you would like to make Campbell your home, give me a call and let’s get the process started today. I may be reached at my office at 408.972.1822.