Notes on the Current State of Real Estate Sales in Campbell

By Scott Rees, DCNA Board Member

The current median sales price in Campbell for a single family home is $2.34 million. One year ago, it was $1.77M. The average sales price per square foot is $1085. Average sales per square foot is a good method to use when trying to determine your home’s value, because it takes all sales during a given period, regardless of home size, and averages them all together.  

The current median sales price in Campbell for a Condominium/Townhouse is $707k. One year ago, it was $740K. The average sales price per square foot is $755. 

Downtown Campbell for the month of January had only one home sale and one condo/townhome sale. There are currently four pending sales set to close in February, and two active listings on the market.  

The Holiday season is generally a slow period of time for homes to sell, which is why there is little data for the month of January, 2025. In the upcoming few months, expect the number of homes coming onto the market to increase as we head into the Spring Buying/Selling season. The buying season is typically February to June and closely follows the school calendar year. 

Santa Clara County has seen historically low inventory in the past few years, and buyer demand has been extremely high. Expect the trend to continue this year. There are many factors accounting for the low inventory and high demand: job growth, interest rates, lack of new homes being built, stock market changes, and desirability based on location. Campbell, and especially downtown Campbell, fall into this category.

Many potential buyers love the location to major freeways, shopping, dining and the airport. Our downtown is considered one of the better downtown areas in the Bay Area, and our neighborhood is considered to be a good value compared to the surrounding areas. In short, we live in a great area that is highly sought after.  

Expect interest rates to remain flat for much of the year. The Federal Reserve recently stated they did not expect to raise or lower rates this year.