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 January 1, 2018, through January 31, 2018, extracted from our local Multiple Listing Service (“MLS”) as of February 1, 2018.
The entire Silicon Valley real estate market continues to be hot hot hot for sellers. The hot seller market presents challenges for buyers who find their self competing in bidding wars with buyers making offers substantially over list price with no contingencies. Demand remains high and inventory continues to shrink.
Sellers Beware – Don’t Be Fooled by Bidding Wars!
Don’t be fooled by a hot seller market creating bidding wars. An extreme lack of inventory does not mean a seller does not have to hire an agent with excellent marketing skills with a proven track record for listing, selling, and closing homes. All agents are not created equal just as all homes are not created equal. The homes creating extreme bidding wars are homes that are presented as a model home.
Let’s take a look at how the market performed in January 2018.
January 2018 Single Family Homes Market Activity Report
- 8 Active Single Family Homes. An increase from 3 the previous month.
- 10 Pending Sales (Under Contract). No change from the previous month.
- 10 Sold Homes. A decrease from 32 homes in the previous month
- Average List Price: $1,498,184
- Average Sale Price: $1,614,600
- Average Sale Price to List Price: 109.3%
- Average Days on Market: 14
- Absorption Rate: 0.8 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.
- $2,350,000 was the highest price home sold in Campbell in January 2018.
- $1,260,000 was the lowest price home sold in Campbell in January 2018.
Condos and Townhouses Market Activity Report January 2018
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.
- 0 Active Condos / Townhouses. A decrease from 1 condo the previous month.
- 5 Pending Sales (Under Contract). An increase from 1 condos the previous month.
- 1 Sold Condo / Townhouse. A decrease from 9 the previous month.
- Average List Price: $899,000
- Average Sale Price: $1,010,000
- Average Sale Price to List Price: 112.3%
- Average Days on Market: 9
- Absorption Rate: 0 months of inventory which equates to an extreme Seller’s market
- $1,010,000 was the highest price condo/townhouse sold in Campbell in January 2018.
- $1,010,000 was the lowest price condo sold in Campbell in January 2018.
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 mean 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 of a current and accurate home value.
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.
When selling a Campbell home the process starts with a conversation to discuss your specific needs, wants, wishes and desires. Call Kathleen Daniels, the independent broker of KD Realty in San Jose at 408-972-1822 or complete the form on the contact us page and we will connect with you to get the process started.