The graph below shows the Median Sale Price of Campbell CA Single Family Residences each February from 1999 through 2011, according to the local Multiple Listing Service (MLSListings).
The February 2011 Median of $628,000 represented a 3% decline compared to February 2010, and a 22% decline from the $810,000 peak in February 2005.
Much of the decline occurred because of an unsustainable 110% increase in the median price between 1999 ($386,250) and 2005 ($810,000). That meteoric increase resulted from easy credit. Mortgage loans requiring no down payment or verification of income were not rare, and they opened the floodgate to home buyers who otherwise could not get financing.
For a more in depth analysis of a particular Campbell home, or to talk about your real estate situation, please feel free to call or e-mail. As a local Realtor since 1976, I have an in depth understanding of the dynamic real estate market conditions throughout Campbell. And the lessons I've learned from 35 years of local real estate sales experience benefit my clients throughout a real estate transaction.
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