The Almaden Valley real estate market continued to decrease slightly in what is most likely the normal seasonal slow-down we see every year at this time. The total number of single family homes for sale decreased from 74 last week to 72 this week, while the percentage of properties under contract dropped from 35% to 34% over the same time. Traditional (ie non-distressed) homes experienced the same trend, from 65 single family home for sale last Monday to 63 today, and the percentage under contract dropping from 29% to 28% over the same time. The interest rates offered by some banks dropped slightly. Although buyers are still being lured by the historically low interest rates, it remains to be seen if the rates will motivate buyers to act during the holiday season when we usually see a slowdown in sales.
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