The May single family market in Almaden continued a trend of tight inventory, with the number of pending and sold listings outpacing the number of homes on the market. Although the number of homes that sold in May retracted slightly from April numbers, the number of pending transactions has continued to trend upwards.
In short, the Almaden Valley market appears to be in a stable mode with market control somewhat more favoring sellers than buyers. We see this in the increase in the average sale price of $923 in May versus $818 in April. As we enter the summer, we expect to see the market cool off a bit, with lower inventory, sales and prices, but buyer interest is remaining keen.
Although the real estate market looks favorable, it has slowed down compared to the same time last year. Buyers are still craving inventory, but we are not seeing sellers absolutely dominating as we have the past few years. We are seeing a bit more balance between buyers and seller.
If you are thinking about selling YOUR home, contact me and let me show you how The Swan can help you make the most of our ever-changing market.