Updated January 2021
The annual median price for Campbell homes rose 7.2% over 2019 and nearly equaled the previous market high from 2018. Very little impact from the Covid restrictions. The annual increase in the median price for Campbell homes has averaged 6.6% per year since 1998 (CAGR).
Market demand for Campbell homes remains strong. Average Days on Market remains at all-time lows. The average final sales vs. list price remains at slightly over list. Again, no noticeable impact from Covid restrictions.
The supply of New Listings continues at 2012+ levels. The number of new listings did drop in April-May, but fully recovered by year-end.
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 2020. 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 $ per SQFT varies widely from the overall average of $882 for 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 Campell.
The quarterly median price returned to 2018 levels during the first three quarters of 2020. Signals a strong market, even with Covid.
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 is higher than prior years with the exception of May-June.
The average Final Sales Price over/under List Price percentage has declined dramatically since mid-2018. Keep in mind homes selling quickly are still selling for over list, so this reflects the effect of homes taking longer to sell.
Final sales price vs. List price varies significantly by number of days on market. Homes selling during the first two weeks on market typically sell for over list, while homes on the market typically sell for under list. Buyers should plan on paying 5-10% over list in order to compete for the more desirable listings. Note: this is using the current list price, which may be after a price reduction.
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 inventory of Active listings jumped to recent highs during the second half of the year. Suggests there is a good selection of homes for Buyers.
The number of 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.