November 2016 Almaden Valley Real Estate Market Update

November 2016 Almaden Valley Real Estate Market Update… 2016 winds down, so does Almaden Valley real estate. As we expected, November sales data for single family homes dropped from October. The number of listings offered dropped from 32 in October to 29 last month, while the number of listings that went under contract dropped from 28 to 19 during the same period.

Compared to the same time last year, November 2016 ended on a high note. The number of listings offered increased from 26 in 2015, while the number of homes that sold posted a dramatic 31.6% increase from November 2015, when there were 19 sales as compared to 25 sales in 2016.

Price per square foot increased from October to November 2016, going from $548 to $564, although it was below the $585 from November 2015.

Overall, the Almaden Valley real estate market is experiencing a predictable seasonal fluctuation that I expect will last into the New Year. However, if you are planning to purchase a home in the near future, now is a great time to take that step. Inventory is good and the market has slowed enough that buyers have a good chance of making a deal. If you are planning on making a purchase, contact me and let me show you how you can get the best deal!