July 2023 Almaden Valley Real Estate Market Update

The Almaden Valley single family market continues to show strength as inventory remains tight and buyer demand sustains. When compared to June 2023, we DID see a bit of a drop in the number of homes on the market, listings that sold and listings that went under contract, but when compared to the same time last year, sales were much higher. This is likely due at least in part to the fact that inventory remains critically low. We have had less than one month’s inventory since spring of this year, varying slightly from .9 months to .6 months.

The average price per square foot has retracted slightly from June 2023 and is also slightly lower than it was the same time last year. This indicates that the market is in somewhat of a balance between sellers and buyers. Although inventory is tight, buyers appear to be a bit more discerning. However, well marketed homes are still finding buyers. If you are thinking about selling YOUR home, call me and let me show you how I can help sell your home in our challenging market!