As the COVID-19 issue pushes on, Almaden Valley real estate has proven to be resilient if not thriving. When we look at trends over the previous six months, the number of sales is not as high as we’ve seen in past summers, but the market definitely did not stall. Although the total number of sales were down, the number of homes offered for sale was down as well. The telling tale on this situation is the average days to sell, which dropped dramatically as summer approached. This is a good indication that buyer interest in the available inventory was high. Our prices are being held up by a combination of extremely low inventory and very, very low interest rates.
The average home price stumbled briefly when the pandemic was first announced, but recovered quickly. We’ve seen the Almaden Valley real estate market switch back and forth between being a buyer’s market and a seller’s market, but it has remained incredibly stable given the current events. If you have any questions or are ready to make a move, give me a call!