How is the residential real estate market doing in the Cambrian Park area of San Jose, CA?  We’ll have a look at the 95124 zip code area and the 95118 zip code area of San Jose, which together comprise at least 95% of the Cambrian Park real estate area of Silicon Valley. (A small sliver belongs to the predominently Campbell area of 95008.) The following charts, from Altos Research, represent list prices (not sold prices).

Although the condos in 95124 (green line) have not fared too badly in the last year, the vast majority of Cambrian Park real estate seems to be hurting. The median list price on these homes has been slipping fairly steadily over the last year – often at least 10% of value. This is the broad overview. Next we will view things on more of a micro level.

Next, we’ll view Cambrian in smaller segments, broken down by both zip code and quartile. First, let’s take a look at the 95124 zip code, starting with the single family home real estate market:

Interestingly, most of the houses in Cambrian had a similar downward trend (the lowest price points exhibiting the strongest tendency that way), but the highest price houses seem to be at about the same level as they were a year ago, if not priced a tad higher.  This chart suggests that the lowest priced homes have been hardest hit by the current economic crisis.

And next, condos in the same part of San Jose:

Among 95124 condos, the highest and lowest priced homes had the roughest time, whereas the two middle quartiles are almost on par with where they were a year ago.

And for the smaller part of Cambrian Park, the 95118 area, the same criteria:

The 95118 zip code of San Jose, which is about 1/3 of the Cambrian Park district, mostly has the San Jose Unified School District, which is not considered quite as desireable as Cambrian and Union Schools. In this area, prices have slipped dramatically among single family homes.

And condominiums and townhomes in 95118:

It is interesting to see that among the condominium and townhouse market for the 951118 part of San Jose, the patterns among the four quartiles are extremely simiar overall for the major dip in the market. The highest priced condos, though, appear more impervious to the market pressures, and the lowest priced homes have taken the worst hit.

Overall, Cambrian is a good mirror for the rest of the San Jose real estate market and even the Silicon Valley real estate market. Here, as in the rest of Santa Clara County, the higher priced homes have not been so badly hit on pricing. Schools appear to be a huge impact on whether a property will better retain its value or not.

This is all very broad information. For more specific info relating to your particular needs, please call or email me today!

Tags: Cambrian Park Real Estate, condos, Market Reports, San Jose real estate, Silicon Valley real estate, single family homes, stats, trends

This entry was posted on Monday, December 15th, 2008 at 10:59 pm and is filed under Cambrian Park (SJ), Market Reports. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.