Almaden Valley Real Estate Market Update for August 13, 2012

This week’s Almaden Valley real estate market is pretty much “more of the same” from last week.

Inventory continues to creep up; 68 single family homes for sale last week and 69 this week. The percentage of listings that are under contract remained steady at 45%.

Looking back, the number of homes on the market has remained in the 60s (with a few exceptions) since the end of April, 2012.

The number of distressed (i.e., short sale, foreclosure and auction) properties continues to decrease. Buyers are still actively taking advantage of the low interest rates. Although there is plenty going on that could make for a brisker market, things have remained rather slow to change.