The June 2019 Almaden Valley real estate numbers showed growth from May. The number of single family homes that sold increased a healthy 36% from the previous month (34 versus 25), while the number of such homes on the market increased a bit over 23% (58 versus 47). The average price per square foot increased $4 to $664.
When we look at current trends compared to the same time last year, we can see that buyers aren’t quite as bullish. Price per square foot in June 2018 was a market-peaking $757. The number of single family homes that sold at this time was 40, and the number of homes for sale was a mere 26.
Although supply is now higher than demand, the average days on market for single family homes dropped to a year-to-date low of 21 days, a number we haven’t seen since fall of last year. This indicates that buyers are still keen on Almaden Valley, but from my personal observations, they are attracted to updated, well-priced homes that show well. The savvy seller can do well in this market, but it takes more than putting a For Sale sign in the yard. If you are thinking about selling your home, contact me and let me show how I can help you make the best of this challenging market!