We saw a definite improvement between last week’s report and this week’s. The number of available homes in Almaden Valley decreased from 85 last week to 83 this week. In addition, the number of homes that are now under contract increased significantly, from 35% to 38%. Traditional (ie non-distressed) listings posted even better numbers; available homes decreased from 79 to 76, and the percentage under contract increased from 26% to 31%.
Interest rates have remained low, school is back in session and buyers are now back on the market after summer vacations. Open house traffic over the weekend was moderate. The Almaden Art and Wine Festival may have taken some of the traffic. But homes are still selling!! I now have 29 closed sales for 2011 as well as 7 pending!