The Cambrian area of San Jose just north of Hwy 85 and east of Hwy 17/880. Strong elementary schools and relatively affordable prices makes this a very popular area. Click on the following links for information on The San Jose-Cambrian Community and Schools.
The annual median price jumped 20% during the first half of 2022. The annual rate of appreciation for San Jose-Cambrian homes has averaged 6.9% per year since 1998 (CAGR).
Market demand for Cambrian homes has spiked to all-time highs. Final sales prices (blue line) have risen dramatically to historic highs. The average days on market (red line) remains at historically low levels.
The supply of New Listings (blue line) and number of closed sales (red line) has not changed significantly from recent years. This chart is updated annually after year-end.
Cambrian homes are mostly in the $1.0M to $2.0M range.
$/SQFT varies widely. The chart above shows the distribution by both size (SQFT) and the corresponding $/SQFT. This also gives you an idea of home sizes in Cambrian.
Quarterly Median Prices are at all-time highs for both Q1 and Q2.
The monthly median prices for San Jose-Cambrian homes jumped in early 2022. 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, and that median prices are reported after escrow closes, so monthly values typically lag the actual sale by one month.
The monthly Days on Market remains at historic lows.
The monthly average sales price over/under list price percentage spiked early in the year.
Homes selling within the first 10 days on market are typically selling for 5% to 20% over list.
The monthly supply of new listings for homes in San Jose-Cambrian has been fairly consistent over the past 5 years. Note the seasonality with December typically being the low-point during the year.
The Inventory of Active listings is rising in Q2. Since supply of new listings looks to be consistent, then this must reflect a significant increase in demand.
Interestingly the monthly number of Sales appears to be relatively consistent, although slightly lower than previous years.
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.