Almaden Valley Real Estate Market Update for February 13, 2012

The Almaden Valley real estate market continues to attract buyers. Sellers are still not putting their homes on the market at a rate high enough to satisfy demand.

The number of single family homes on the market dropped from 54 last week to 51 this week, while the number of homes under contract increased from 40% to 43% during the same time frame.

Traditional (i.e., non-distressed) properties experienced similar changes, with the number of homes on the market dropping from 45 last week to 44 this week, and the percentage under contract increased from 35% to 36%.
 
We are experiencing a unique market that favors buyers who are taking advantage of historically low mortgage rates, and sellers who are finding eager buyers and low numbers of homes on the market that compete for these buyers.

If you would like to take advantage of our unusual market situation, give me a call.