Almaden Valley Real Estate Market Update – October 10, 2011

The number of single family properties in Almaden Valley that are on the market crept up slightly, from 74 last Monday to 76 today. However, the number of pending escrows also increased, from 37% last week to 38% this week. Traditional (ie non-distressed) properties experienced similar changes, with the number of properties on the market increasing from 66 to 67 and the percentage of pending escrows increasing from 31% to 32%.  Although the number of active listings increased, the percentage of pending escrows has pretty much recovered from the dip we saw last week.

Interest rates are remaining stable, though some banks posted a slight increase. Even so, rates are so low that buyers who are contemplating purchasing are being lured into acting by the historically low interest.

Almaden Valley Real Estate Market Update – October 3, 2011

The number of single family homes available for sale in Almaden Valley continued to decrease, down to 74 this Monday versus 77 the same time last week. The percentage under contract dropped slightly, to 37% from 38% during the same time. Traditional (ie non-distressed) properties followed similar trends, with active listings dropping from 68 to 66 and the percentage under contract dropping from 33% to 31%.

The market still has a lot of fire. Homes are selling. Interest rates are unbelievable. I just sold my listing on Crystal Springs in the Almaden Country Club neighborhood last week and have offers on my new listing on Hillcrest, also in the Country Club. Neither home has even hit the market. Buyers are buying!!

Almaden Valley Real Estate Market Update – September 26, 2011

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.

Almaden Valley Real Estate Market Update – September 19, 2011

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!

Therese Swan Launches Tool for Searching Almaden Valley Real Estate by School and/or 2011 API School Scores

graphic: Search by School and API ScoreTherese Swan, Almaden Valley’s #1 Realtor, has just released a new tool to help Almaden home buyers find the home of their dreams. Buyers can now search Almaden Valley Real Estate by School and/or 2011 API School Scores!

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Almaden Valley Real Estate Market Update – September 12, 2011

We experienced another week of slow but steady improvement of the Almaden Valley real estate market. The number of available homes remained steady at 85, but the number of pending listings increased from 35% to 36%. Traditional (ie non-distressed) sales showed similar activity, with available properties remaining at 79 and pending listings showing an increase from 26% to 28%. Mortgage rates remain at historic lows, and buyers appear to be taking advantage of this fact.

Almaden Valley Real Estate Market Update – September 6, 2011

The overall Almaden Valley real estate market continues its gradual improvement. The number of available properties dropped quite a bit, from 96 to 85 over the past week, while the number of pending listings increased from 33% to 35%. Active traditional (ie non-distressed) listings dropped from 89 last Monday to 79 this Monday, while the percentage under contract remained at 26%. Although it is impossible to say what caused the number of available properties to drop, it is quite likely that this past holiday weekend, the last hurrah of the summer season, played a role.

Almaden Valley Real Estate Market Update – August 29, 2011

There wasn’t much change in the real estate market this past week. The number of available single family homes decreased slightly, from 97 last Monday to 96 this Monday. The percentage under contract also decreased slightly, from 34% to 33% in the same time frame. For traditional (ie non-distressed) properties, the number of available listings increased one, from 88 last week to 89 this week, and the percentage under contract decreased slightly, from 27% to 26%.  Interest rates inched up a tiny bit, which may cause a few fence sitters to jump into the market.

Almaden Valley Real Estate Market Update – August 22, 2011

As anticipated, the market is continuing to show signs of improvement. The number of available single family properties decreased from last week’s 98 to 97 this week. The percentage of listings that are under contract has increased from 33% last week to 34% this week. Traditional (ie non-distressed) listings are showing the strongest improvement, with available properties dropping from 90 to 88 and the percentage under contract increasing from 24% to 27% over this same time frame. As students settle into the new school year, I expect more buyers to enter the market to take advantage of the lowering mortgage interest rates.

Almaden Valley Real Estate Market Update – August 15, 2011

The number of available single family properties continued the decline we first noted in late June, from 99 last week to 98 this week. However, this last week saw a decrease in the percentage of pending listings, from 39% last week to 33% this week. Researching this further, we saw a decrease in the number of new pendings this past week accompanied by a dramatic increase in the number of properties that completed the sales process. We’ve observed the same pattern in traditional (ie non-distressed) sales; available single family listings dropped from 92 last week to 90 this week, and the percentage of listings under contract dropped from 30% to 24%.   Many families are squeezing in the last days of summer vacation before their kids go back to school.   Plus there may be a few jitters with the volatility of the stock market in recent weeks. As is typical with the Almaden market, we expect the market to start picking up again soon once kids are settled back in school.  Interest rates are at record lows and buyers want to take advantage of that.