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Campbell California Real Estate - campbell california real estate

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Campbell, California is a town of about 40,000 residents that is located just outside of San Jose. Like many other towns in northern California, the Campbell, California real estate market has struggled during the recent housing boom and bust. From mid until early 2007, the Campbell, California real estate market experienced dramatic gains in their home prices. The median sales price increased dramatically from around $450,000 to just over $700,000. These prices seemed unaffordable for many Campbell, CA residents as the median household income was only around $80,000.

The home prices in the Campbell, California real estate market proved to be unsustainable. As the housing bubble burst in 2007, the median sales price in the Campbell, California real estate market took a dive. Home prices fell consistently over a two year period before resting at around $550,000 in mid 2009. The prices do appear to have stabilized as the median price has remained consistent for the past few quarters.

Like many other communities in California, the Campbell, California real estate market does have some problems with foreclosures. In February of 2010, 1 in every 383 homes received a notice of default from their mortgage provider. While this rate of foreclosure is not nearly as high as other cities in the state, it is still well above the national average.

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