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Real Estate in Cambrian Park in San Jose slows down a bit in November 2015

December 29, 2015 By dpizano

cambrian-november-2015-real-estate-salesCambrian Park is a nice suburban area close to Willow Glen, Los Gatos, Almaden Valley and Campbell. The zip codes are 95124 and 95118.

There were 45 single family home sold in November. This number is down -2.2% from 46 in November of last year and lower from 61 homes sold in October 2015. When we compare the Year to Date (to November 2015) sales of single family home to those of the previous two years, the sales are around 3% lower (620 2015 YTD, compared to 639 YTD in 2014).

When we look at the home values in Cambrian Park in San Jose the median price single family home increased from $855,000 to $922,000 for a year to date gain of 7.8%. However, the median price went down slightly from October $925,000 to November 2015 $922,000.

The average List Price to Sales Price in Cambrian was is 107% for the year, meaning that if a home is listed for $100,000 it eventually sells for $107,000 or 107 percent over the asking price. This tells us that there are still plenty of multiple offers for home selling in Cambrian. In November 2015, however, the average List Price to Sales Price dropped to 103.5%.

Another factor we like to measure is Days on Market. In other words, how long does the average home sit on the mls before it gets sold. The average Days on market for Cambrian homes for sale was this year was 19 days. However, in November the Days on market went way up to 29 days. It took longer to sell a home in November this year.

 

Filed Under: Home Loans, Market Update, Real Estate, Uncategorized Tagged With: Cambrian Park Homes, Cambrian Real estate, real estate sales

Third Straight Month of Decline in September 2015

October 29, 2015 By dpizano

US Hhouse valuesousing Data in September 2015

The national median existing home price in September 2015 was $221,900. Which is an increase of 6.1% from a year ago. Last year the median price was $209,100.  However, on a month to month statistic, it is the third straight month of decline. According to Lawrence Yun, Chief Economist for NAR, “This (decline) always occurs after the summer months, there’s no surprise.”

Lawrence Yun explains, “Despite persistent inventory shortages, the housing market has made great strides this year, backed by an increasing share of pent–up sellers realizing the increased equity they’ve gained from rising home prices and using it towards trading up or moving into a smaller home.” He explains the first time home buyers challenge, “Unfortunately, first time buyers are still failing to generate any meaningful traction this year.” When compared to the entire buying population, first time home buyers fell to 29% of all buyers in September of 2015 after climbing to their high’s of 32% in August 2015. Last year the first time home buyer was very similar and made up 29% of all buyers.

 

California Housing Data for September 2015

When we look at the housing data on a statewide level. September’s statewide median home price was $482,150 which is down 2.3% from August 2015. The median number of days it took to sell a single-family home edged up in September 2015 to 32.6 days compared with 29.9 days in August 2015.  The Bay Area is the only region where homes are selling above original list prices due to constrained supply with a ratio of 102.4% in September 2015, up from 101.2% a year ago September 2014.

 

Santa Clara County data on SFH September 2015

September SFH Property sales were 941, up 3.2% from 912 last year September 2014 and -7.9% lower than the 1,022 sales last month in August 2015. January through September 2015 Year To Date sales of 8,363 SFH sold are running 6.6% ahead of last year’s YTD sales of 7,846 SFH Sold.

Median SFH Sales Price in September 2015 was $950,000, up 11.9% from $849,000 in September of 2014 and down -1.7% from $966,200 last month in August. The Average Sales Price for Single Family Homes in September was $1,232,555, up 11.8% from $1,102,154 in September of 2014 and down -0.9% from $1,244,275 last month in August 2015.

Total Inventory of SFH Properties available for sale as of September was 1,450, up 4.7% from 1,385 last month and down -7.1% from 1,560 in September 2014.

Average Days On Market (DOM) for SFH shows how many days the average Single Family Home is on the Market before it sells. An upward trend in DOM a buyers market, a down trend a sellers market. The DOM for September 2015 was 22 Days On Market which remained unchanged from last month in August but down -18.5% from a 27 Days on Market in September 2014 last year.

September 2015 Selling Price per Square Foot for SFH of $656 was down -0.2% from $657 last month and up 11.4% from $589 in September of 2014.

September 2015 Selling Price vs List Price for SFH was 103.7% was down from 104.7% last month and up from 103.5% in September of last year. For example, if a home is selling for $100,000 they sold it at 103.7% higher or at $103,700 in September 2015 but would have received $104,700 in August 2015. So the overbidding on homes has calmed down a bit.

Filed Under: Home Loans, Market Update, Real Estate, Uncategorized Tagged With: housing stats, median home prices, real estate data, real estate housing datat, real estate sales

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About Daniel Pizano Realtor Broker Agent

San Jose Native, Real Estate Guru, Marketing Expert. Bay Area Sports Enthusiast, Frustrated Golfer, Amateur Chef, Wanna-be Cocktail Mixologist. Web Designer. Lover of All Things Green - Gardener. Musician. Associate Broker of Coldwell Banker Residential Real Estate - Los Gatos Office. For more, follow me at @danielpizano Read More…

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Everything starts with a phone call. Call us at 408.460.8401. Daniel Pizano is a top producing real estate agent and broker associate with 10 years of real estate experience. Daniel is affiliated with Coldwell Banker Los Gatos which is a top producing office in Silicon Valley and the entire Bay Area. Real estate is a relationship business. You need a knowledgeable and hardworking broker who will negotiate the best deal for you. Daniel would love to meet with you and see how he can help you achieve your dream of owning your home or selling your home. Call Daniel today!

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Daniel Pizano, broker associate
01471503
408.355.1557
Coldwell Banker Los Gatos
410 N Santa Cruz Ave
Los Gatos, CA 95030

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