2013 Almaden Valley Real Estate In Review

The close of 2013 saw the Almaden area real estate market wrapping up the usual holiday season slowdown. The December inventory of single family residences was lower than we have seen in many years. Despite this shortage of available homes, the number of completed sales was only slightly below the number from December 2012.

Price per square foot ended the year slightly lower than November 2013 numbers, but up a healthy $66, from $400/sq.ft. in December 2012 to $466 December 2013. This price increase indicates that the shortage of homes is still at critical levels in relation to demand. In fact, statistics show that the year ended with about two weeks’ supply of active listings in Almaden Valley.

With mortgage rates remaining fairly stable, the passing of the holiday season should see the Almaden Valley real estate market picking up steam again. How robust the market responds will depend in large part on sellers putting their homes up for sale, and sellers are likely to remain in control for the foreseeable future.

If you would are thinking about selling your home, give me a call and let me show you how I can help you capitalize on this seller’s market!