Campbell Median Sold Price Up 14% For 2014
Median sold price for a single family residence in Campbell is up 14% for 2014, building on strong appreciation of median sold price for 2013. Whereas 308 houses were sold in 2013, the number of homes sold in 2014 decreased to 283 sold in 2014 as prices continue to rise amid strong buyer demand. Similarly, whereas 166 townhouses and condos were sold in 2013, the number of townhouses and condos sold in 2014 decreased to 148 sold as prices for townhouses and condos continued to rise amid strong buyer demand.
Of 283 single family residences sold in 2014, 149 units sold within ten days on market; of which 43 units sold under $800,000, 123 units sold between $801k-999k, and 116 units sold over $1M. In the fourth quarter of 2014, 62 single family residences were sold in Campbell, down from 109 units sold in the third quarter.
In the fourth quarter of 2014, 49% of single family residences sold within 10 days on market (all sold 50k-150k over asking price), 18% sold between 11-20 days (at or above asking price) and another 10% sold between 21-30 days (at or below asking price).
In the third quarter of 2014, 46% sold within ten days on market (46/50 sold over asking price with one selling 300k over), 22% sold between 11-20 days (20/24 sold over asking price) and another 9% sold between 21-30 days (at or below asking price).
Even though the median for sale price softened a bit in the second half of 2014, the median sold price for single family residences in Campbell continues to march higher as buyers seek relatively affordable homes close to high-paying Silicon Valley jobs, which are becoming harder to find with reasonable commute times. Schools with 900+ API scores appear to be a significant price driver in 2014 for homes in the San Tomas Aquino and Central Park neighborhoods, where the median sold price for single family residences has risen dramatically.
Campbell Median Sold Price Up 18% For 2013-2014
Campbell Median Sold Price Report For January 2015 is a post from Life and Real Estate in Campbell CA, which is not to be copied on other sites.