The real estate market is crazy-hot for sellers and presenting “real” challenges for buyers as they compete in bidding wars for homes .  Some San Jose markets are hotter than others yet the entire San Jose and Silicon Valley real estate market continues to see high demand coupled with vanishing numbers of homes for sale.  As a full-time real estate professional for nearly 15 years, what’s happening in real estate today is mind-boggling.  Many homes in the Cambrian 95124 zip code are selling for several hundred thousand dollars over market comparable sales. Buyers are waiving all contingencies.  Good news for sellers not such good news for buyers. 

Let’s see how the June market measured up in the Summer heat! 

This is a market activity report for Cambrian Park in San Jose, CA. Cambrian is an MLS designated area which includes the 95124 and 95118 zip codes. This report is comprised of data extracted from June 1, through June 30, 2017 from our local Multiple Listing Service (“MLS”) as of July 1, 2017. The data may not reflect “off market” sales. 

Carousel at Cambrian Park Plaza

June 2017 Single Family Homes Market Activity Report

  • 36 Active Single Family Homes. An decrease from 40 homes the previous month.
  • 79 Pending Sales (Under Contract). An increase from 60 homes the previous month.
  • 62 Sold Homes. A increase from 59 homes the previous month.
  • Average List Price: $1,031,565 – a slight decrease from the previous month
  • Average Sales Price: $1,114,451 – a slight increase from the previous month
  • Average Sales Price to List Price: 108.2%
  • Average Days on Market: 12 – compared to 13 for the previous month
  • Absorption Rate: 0.6 months of inventory which equates to an extreme Seller’s market.
    • Read more about absorption rate and how it June impact the sale of a home.

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.

  • $1,745,000 was the highest price home sold in Cambrian Park in June 2017.
  • $749,000 was the lowest price home sold in Cambrian Park in June 2017.

June 2017 Sale to List Price Ratio for Single Family Homes sold in Cambrian Park in San Jose, CA.

Cambrian Park Homes for Sale Under $800,00
Cambrian Park Homes for Sale $800,000 to $900,000
Cambrian Park Homes for Sale $800,000 to $900,000
Cambrian Park Homes for Sale $900,000 to $1,000,000
Cambrian Park Homes for Sale $1,500,000 and above

Condos and Townhouses Market Activity Report June 2017

Living in a condo is not for everyone. Buyers need to educate their self on the condo lifestyle and make an informed decision before buying. There are rules and restrictions homeowners must follow. Some condo association rules are just too strict and prohibitive from certain buyers. Buying decisions must be made with eyes wide open.

  • 4 Active Condos and Townhouses. An decrease from 8 the previous month.
  • 16 Pending Sales (Under Contract). A decrease from 18 the previous month.
  • 15 Sold Condos and Townhouses. An decrease from 24 the previous month.
  • Average List Price: $542,431 – an decrease from the previous month
  • Average Sales Price: $571,953 – an increase from the previous month
  • Average Sales Price to List Price: 104.9%
  • Average Days on Market: 10
  • Absorption Rate: 0.3 months of inventory which equates to an Extreme Seller’s market
  • $801,000 was the highest price condo sold
  • $395,850 was the lowest price condo sold

June 2017 Sale to List Price Ratio for Condos and Townhouses sold in Cambrian Park in San Jose, CA.

Cambrian Park Condos and Townhouses for sale Under $500,000
Cambrian Park Condos and Townhouses for sale $500,000 and above

Value Based Approach To Listing Cambrian Park Homes for Sale

When listing a San Jose home for sale in Cambrian Park it is important to carefully analyze market trends and recent statistical data. 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. Homeowner’s who need to sell their home want a professional valuation for a current and accurate home value.

When you are looking to sell a Cambrian Park 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. I will share my documented approach to listing homes. I may be reached at my office at 408.972.1822.

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