Cambrian Real Estate Trends

Cambrian, a southern area of San Jose, CA typically follows a traditional spring to fall sales cycle with peak sales in early summer (around May to July with 75+ sales). This sales cycle is driven by the push for the first day of school in mid-August and then slowing significantly down in November, December and January (with a low of 25-30 closings in January). This page contains an analysis of the Cambrian real estate market trends data for the second quarter (April-June 2022).

How has the Cambrian real estate market recently performed?

In all of 2017 Cambrian area of San Jose experienced extremely low inventory (see yellow line for inventory in the graph below), and multiple offers.  These multiple offers spurred a quick increase in home prices.

In late 2018, inventory shot back up to normal and the spring high prices plus increasing interest rates had buyers waiting on the sidelines.  With the number of sales decreasing earlier than typical in the year’s sales cycle, prices softened through the rest of 2018.

2019 was a typical seasonal sales year with peak closed sales in May and peak inventory a little earlier than normal in May as well.

Low inventory returned in 2020 and 2021, possibly due to the pandemic. Demand and closed sales were strong, especially in 2021. With low supply and high demand, prices again increased in 2020 and throughout 2021, recovering the price dip of late 2018. The 2021 peak price in October was 19% over the April 2018 peak (although the condo and townhome market has not recovered so well)

2022 started off with another huge increase in average price, showing a peak of April for closing prices. The prices are trending down due to the over 2% increase in mortgage interest rates over the last few months. The market is rebalancing due to this large affordability change.

Cambrian Real Estate Market Trends Graph June 2022

What is the CURRENT average home price?

The average home PRICES (orange line) for June2022 in the Cambrian area of San Jose was $1,735,240 with the average sale price to list price ratio at 106.2% of asking price. The Cambrian average price peaked in April 2018 ($1,456,070), and again in April 2022 ($2,044,930), a 40% increase! Sales numbers have not yet hit the typical summer levels. Check out the current month’s data in the current month stats below.

Which direction is the Cambrian real estate market trending?

Days of Inventory (DOI) is a monthly metric I follow to understand the speed and direction of the market.  As of June 2022, the DOI of homes in Cambrian is at 24 days; still a strong seller’s marketUnlike other areas of San Jose Cambrian sales and inventory levels are about even. Interest rates have started to affect the buying power so this may affect the sales numbers even more over the next few months.

Until there is a significant increase in inventory, I expect prices to level out as Cambrian continues to be an attractive place to live.

Hopefully the immense equity gain over the past 10 years will encourage sellers to continue to supply the market with inventory, so buyers have options. The favorable unemployment numbers fuel the market with new buyers hopefully helping to keep up the strong pending& closed sales.

The analysis of the Cambrian real estate market trends data on this page is updated once a quarter (next update October 2022 with data through end of September).  To see more recent updates take a look at the market metrics below or watch my overall San Jose Market overview video.


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