Updated July 2019
Campbell homes sell in the $1.0M to $2.0M price range. The chart above shows the distribution by number of bedrooms based on Closed Sales in 2018.
The annual median price for Campbell homes declined by 6% during the first half of 2019 after a 12/6% jump in 2018. The annual increase in the median price for Campbell homes has averaged 7.0% per year since 1998 (CAGR).
Market demand for Campbell homes remains strong. Average Days on Market has increased in 1H2019, but is still at historic low levels. The average final sales vs. list price remains positive at 2.2% over list, however lower than 6%-7% over list in 2017-18.
The supply of New Listings for Campbell homes declined by 10% during the first half of 2019 compared to the previous year. The number of Closed Sales declined by 18%.
The final sales to list price percentage varies greatly, mostly to time on market. Homes selling within the first 14 days on market are typically selling for over list price and significantly higher than the average of 2.2%. The above chart shows each Closed Sale in 2018.
The $/SQFT also varies widely from the overall average of $861 for 1H2019. The above charts shows the distribution of both the size of home and its corresponding $/SQFT.
The quarterly median price provides insight to how the current market is moving. The current market appears to be leveling-off, at least over the past four quarters.
This monthly view of median prices for Campbell homes provides more insight into the ebb and flow of our real estate market. Keep in mind that the fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.
The average Days on Market chart was unusually higher during the first few months of 2019. May and June returned to historic lowes, suggesting market demand is still there.
The average Final Sales Price over/under List Price percentage has declined significantly since mid-2018. The average is now in the 2-3% range compared to 5-10% in previous years.
The inventory of Active listings jumped to recent highs. Suggests there is a good selection of homes for Buyers.
The monthly supply of New Listings is relatively consistent with previous years. Note the seasonality with December typically being the low-point during the year.
The number of Closed Sales is lower than previous years.
Sources: 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.