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.