Just like the season, the real estate market in Campbell is starting to change. Home prices in Campbell fell 0.06% in August. The average sale price of single family homes was $856,020 in August, down from $903,621 in July, while condos averaged $526,914 in August, down from $539,313 the month before. However, while Campbell has seen a slight decline in average home prices over the past month, the average sale price for single family homes is still up 22.32% and up 14.84% for condos year-over-year, according to data compiled by MLSListings.
Buyers looking for a new home in Campbell struggled for options as new listings for single family homes in August stood at 21, down from 34 in July and new condo listings were limited to 13, down from 15. Total inventory for single family homes including all active and pending properties was 55, up from 50 in July and inventory for condos was 29, up from 21 the month before.
The list price for single family homes in Campbell averaged $885,749 in August down from $911,257 in July. Condos averaged a list price of $564,442 up from $504,714 the month prior. In August, single family homes were on the market for an average of 35 days, up from 23 days for July; condos were on the market for an average of 20 days, down from 28 days.
Strong demand and limited supply means that Campbell homes are still often selling for over the list price. Sellers of single family homes in August received 103.0% of their asking prices while sellers of condos received 102.4%.