October 2018 Almaden Valley Real Estate Market Update… Almaden Valley real estate is firmly in the grips of the seasonal slowdown. The number of single family homes on the market in October was down to 35 from 39 in September and the number that sold dropped to 22 from 24 over the same time period, indicating that both buyers and sellers are showing less interest as we approach the holiday season. The average price per square foot drop to $659 from $723 the previous month bears out this observation.
When comparing this past month to the same time last year, we see a bit less activity. The number of single family homes on the market is up over 59% from October 2017. I’ve been mentioning in other market reports that sellers have been more active this year, and this number demonstrates that. Sales, however, have cooled slightly: 26 single family homes sold in 2017 versus 22 last month. However, the average price per square foot was $619 in October 2017 versus $659 this past month, which may explain why sales were a bit more brisk in comparison.
Overall, the holiday season tends to be a good time for buyers as inventory is good and competition is not nearly as keen as it is other times of the year. If you are thinking about buying a home, drop an email, text or call and let me show you how YOU can take advantage of the holiday market!