January 2024
Campbell is a fun community with a very nice downtown area. Located just south of 280 with easy access to 880. Click on these links to get more information about the Community and the Schools.
The median price declined slightly (1%), but is still 9% higher than 2021 which is 15% higher than 2018/2020. The annual increase in the median price for Campbell homes has averaged 6.8% per year (CAGR) over the past 25 years and have more than doubled over the past ten years.
Market demand in terms of days to sell remain at historic highs. The average final sales vs. list price (blue line) is increasing to all-time levels. Average Days on Market (red line) remains at all-time lows.
The annual supply of New Listings declined 35% from the 2021 spike and is 25% lower than 2012-20 averages. This chart is updated once a year at year-end.
Campbell homes sell in the $1.0M to $3.0M price range. The chart above shows the distribution by number of bedrooms based on Closed Sales in 2020.
The above charts shows the distribution of both the size of home and its corresponding $/SQFT, providing a good view of what is available in Campbell.
The quarterly median price is at 2021 highs, but below the short-term spike in Q1-Q2 2022.
The monthly median prices have been consistent during 2023. Keep in mind that the monthly values reflect a one-month delay in reporting from the time of the sale.
The average Days on Market has remains at historically low levels.
The average Final Sales Price over/under List Price percentage is showing a significant increase after a dramatic fall off in second half of 2022.
Homes selling within the first ten days on market are typically selling for 5% to 20% over list. Suggest a strong number of competitive offers.
The monthly supply of New Listings has declined by ~35% in 2023. Sellers are delaying due to the dramatic increase in interest rates reducing the number of buyers. Note the seasonality with December typically being the low-point during the year.
The Inventory of Active listings has also declined along with the decline in the supply of new listings.
The number of Sales per month has also declined along with the decline in new listings.
Source: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.