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December 2018 Almaden Valley Real Estate Market Update

December 2018 Almaden Valley Real Estate Market Update… The Almaden Valley real estate market ended 2018 on a quiet note. Active, pending and sold listings all ended lower than they were in November, which is a pretty typical holiday season feature. The average price per square foot was up over 5% from November, ending the year at $681.

When compared to previous years, we saw some elements of the white-hot Almaden Valley single family home market cool down a bit the last few months of 2018. Months of Inventory available in December 2018 was significantly higher than it has been in recent years, due to an increase in sellers entering the market. When comparing 2018 to years past, we can see that overall inventory often met or exceeded demand, which is a hallmark of a transition to a market where buyers exert more market influence, and sellers compete for buyers rather than vice versa as we’ve seen in the past.

The gradual increase in average price per square foot seems to bear out the gradual cooling, especially when comparing prices from previous Decembers. In December 2017 we were at $671/sqft level. This increased to $681/sqft in December 2018, a rather modest 1.5% increase as compared to the much higher 9.3% increase we saw from December 2016’s $614/sqft level to December 2017.

But, don’t worry, things appear to be picking up these past couple of weeks as we head into the spring selling season. If you’re thinking about getting into the market, send me an email or give me a call!

December 2018 Almaden Valley Real Estate Market

September 2016 Almaden Valley Real Estate Market Update

September 2016 Almaden Valley real estate market update… Market data for Almaden Valley real estate indicates that we are experiencing our seasonal cooling. The number of single family homes on the market, under contract and sold has decreased from August to September in the normal, predictable pattern we see during the fall/winter holidays.

When we compare September 2016 with September 2015, we see a couple notable details. Although the number of homes offered for sale remained virtual unchanged from last year, the number of homes under contract is up a whopping 68.4%, from 19 a year ago to 32 last month. This number is likely due in large part to the dramatic upswing we saw last month in homes that went under contract as well as the number of sales.

The price per square foot for Almaden Valley single family homes edged downward a little over 1% from August and is down about 2% from the previous year. Although this might sound concerning, it is most likely nothing more than the dance of supply and demand. Up until spring of this year, buyers dominated the market for a long time due to the relative scarcity of homes offered for sale, driving up home prices as buyers competed to buy. Around April 2016, we saw a sudden increase in the number of homes offered for sale, which peaked in July. This sudden influx of inventory swung the proverbial pendulum from favoring sellers due to low inventory, to favoring buyers who now had a much larger pool of possible homes to purchase and create downward pressure of price.

Although buyers and sellers tend to withdraw from the market during the holiday season (which is why we see a cooling trend this time of year), this can be a perfect time to purchase a home. Competition is less keen and prices are attractive.  If you are thinking about purchasing a home in Almaden Valley, contact me and let me show you how I can help make your dream home a reality.

September 2016 Almaden Valley Real Estate Market

August 2016 Almaden Valley Real Estate Market Update

August 2016 Almaden Valley real estate market update… The Almaden Valley single family home market experienced an upswing in August. The number of homes that sold increased almost 12% from July, while the number of homes that went under contract increased a dramatic 39.3% from the previous month. When we look at inventory, we can see a possible explanation. The number of homes on the market dropped 30%, from 70 in July to 49 in August. As we are in the early stages of the holiday cool down we see every year, some of this decrease may be due to normal seasonal fluctuations, but it could also indicate buyers’ interest in concluding home purchases before the school year and holiday season starts.

The average price per square foot retracted a little over 4% from July, from $615 to $588, which may explain in part why there was so much buyer interest. Still, the price per square foot in August 2016 was 8.5% higher than the same time last year.

If you are thinking about buying or selling a home, give me a call and I’ll show you how to make the most of the current Almaden Valley real estate market!

August 2016 Almaden Valley real estate market

July 2016 Almaden Valley Real Estate Market Update

Update on the July 2016 Almaden Valley real estate market… Almaden Valley single family home sales ended on a quiet note in July, with the number of sold homes down almost 30% from June and down over 8% from July 2015. The number of listings for sale was up almost 17% from last month, and a dramatic 55.6% from the same time last year. The last two months have seen increases in the number of single family homes offered for sale to levels we haven’t seen in several years, indicating that the market may be reaching an equilibrium between supply and demand.

Although the volume numbers indicate a balancing between buyers and sellers as well as entering our seasonal holiday cooling cycle, the price per square foot indicates there is plenty of buyer interest. July closed out at $616/sqft, up from $591 the previous month, and $581 in July 2015.

If you are thinking about buying or selling a home, give me a call and I’ll show you how to make the most of the current Almaden Valley real estate market!

July 2016 Almaden Valley real estate market

June 2016 Almaden Valley Real Estate Market Update

The Almaden Valley real estate market ended June 2016 on a high note. The number of single family homes that sold in June was up a whopping 51.6% from the previous month, and up a respectable 6.8% over the same time last year. The number of homes on the market increased over 11% from May figures, and a healthy 27.7% from June 2015. Prices cooled slightly, from $602/sqft in May to $591 in June. Historically, June/July heralds the start of a cooling trend that will continue through the end of the year. With school starting soon and summer vacation time rolling to a close, it is not surprising to see a suspended interest in purchasing and selling homes, and I am anticipating this year to be no different.

However, the “summer doldrums” can be great news for buyers who are willing to make a purchase during this timeframe. Fewer buyers looking for homes can translate into more selection and the possibility of motivated sellers who want to complete their sales prior to the start of fall. If you are thinking about purchasing a home, give me a call and let me show you how I can help make the most of the current market!

Almaden Valley real estate market

May 2016 Almaden Valley Real Estate Market Update

Sellers are coming out in force in the Almaden Valley real estate market. As of Thursday, June 9, there are 65 single family homes listed for sale on the MLS, a number we haven’t seen on our weekly tracking report since 2012!

Sales are up as well. Although the number of sold single family homes is down from last month by about 33% and from April 2015 by about 24%, pending sales is up significantly; over 34% since last month, and a whopping nearly 46% from the same month last year!

We are also seeing prices increasing as well, with a jump from $566/sq.ft. last month to $605/sq.ft. Prices are up from the same time last year, when they were $592/sq.ft.

May 2016 Almaden Valley real estate market

Lowered Interest Rates Will Undoubtedly Pique Interest of Home Buyers

Almaden Valley Real Estate Market Update

The number of available single family homes in the Almaden Valley real estate market continue to decrease, from 65 last week to 59 this week. The percentage of total listings under contract has increased from 46% to 49% over the same timeframe.

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Great News for Sellers: Recent Gradual Increase in Homes is Reversing

Almaden Valley Real Estate Market Update

The gradual increase we’ve been seeing in the number of available single family homes in the Almaden Valley inventory has reversed itself, sliding from 70 last week to 65 this week.

The percentage of listings that are under contract increased slightly, from 45% to 46% over the same time period. We are now at the same levels we were around 4 weeks ago.

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Almaden Valley Real Estate Market Update for July 30, 2012

Almaden Valley Real Estate Market Update

Almaden Valley Real Estate Market Update

The Almaden Valley real estate market experienced little change from last week. Available single family homes decreased from 66 last week to 65 this week, while the percentage of listings under contract increased from 46% to 47% over the same time frame.

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Almaden Valley Real Estate Market Update for June 4, 2012

Almaden Valley Real Estate Market Update

Almaden Valley Real Estate Market Update

The Almaden Valley real estate market continues the holding pattern it’s been experiencing over the past several weeks. The number of available single family homes dropped from 65 last week to 64 this week, while the percentage of listings under contract remained at 46%.

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