March 2019 Almaden Valley Real Estate Market Update… The Almaden Valley real estate market ended the month of March showing solid signs of recovery from the holiday doldrums. The number of single family homes under contract jumped from 19 in February to 35 in March, and the number of sales rocketed from 9 to 20 in the same time frame, while the number of single family homes on the market increased from 25 to 37. The average price per square foot inched up from $673 in February to $678 in March.
When we compare the Almaden Valley market performance to years past, we can see that the wild ride with sellers at the wheel has slowed down considerably, and the market continues showing signs that it is turning to a normal market. We are not seeing quite as many single family homes selling for more than the list price, indicating that inventory is more than meeting demand. The number of homes sold each month has been trending slightly downward, a sign that demand has cooled a bit from the past frantic activity we saw.
Make no mistake, demand for homes in Almaden Valley is healthy, but the market shift means it’s not quite as easy to sell as it was in times past, when almost all it took was putting a “For Sale” sign in the yard. The spirited bidding wars are not nearly as common as they were, either. But homes that are move-in ready and priced well still receive a lot of attention. And now that all our rain has appeared to have stopped, it is quite possible that buyers will soon be out again in droves.
If you are thinking of selling your home, contact me and let me show how I can help you make the most of our changing market!