The Almaden Valley real estate market continued its post-summer improvement. The total number of single family residences that are currently for sale dropped from 83 last week to 77 this week, and the percentage of homes under contract remained at 38%. The number of traditional (ie non-distressed) homes that are on the market decreased from 76 last week to 68 this week, and the percentage under contract increased from 31% to 33%.
As we approach the holiday season, we anticipate that the number of homes put on the market will drop somewhat. However, the number that I concentrate most on is the percentage of homes that are under contract. This number indicates whether inventory is in over supply, under supply, or balance . Generally speaking, the larger the percentage is, the healthier the market.