Almaden Valley Market 2022 in Review

The Almaden Valley single family residential market ended 2022 on a quiet note. The beginning of the year showed dramatic price increases but the gains were given back by the end of the year. Increasing interest rates and the economic climate also affected buyer enthusiasm. Although inventory increased quite a bit from 2021, we did not see a similar dramatic increase in home purchasing. This could very well be signaling a return to a more normal market balance between sellers and buyers. If you’re thinking now might be the right time for you to buy or sell, give me a call!

Almaden Valley Market 2022

Almaden Baseball and Softball Little League

Almaden Baseball and Softball Little LeagueAlmaden Baseball and Softball Little League registration is still open until January 15, 2023. From Tee Ball to Senior League, the Almaden Baseball and Softball little league program includes divisions for all children ages 4–16.

Little League is an all-volunteer organization. The board of directors, managers, coaches, field crews, and umpires are all unpaid volunteers. Parents will be expected to volunteer for a variety of volunteer positions in order to make this year the best ever!

Learn more and sign up at almadenll.org.

October 2022 Almaden Valley Real Estate Market Update

Almaden Valley real estate has entered the more leisurely holiday period, when we expect the market to slow as the holidays progress. In looking over the previous several months, we can see that the frantic pace of 2021 was not repeated in 2022. In fact, the market appears to be much more in alignment with pre-pandemic times as far as pending and sold listings are concerned. Inventory is still a bit tight but not enough to fuel the vigorous bidding wars of 2021.

The price per square foot is where we can see the market transitioning to a more stable place. April 2022 saw a peak of nearly $1100 per square foot, while October posted a more moderate $842. Although this number is lower than the $882 of October 2021, it is up a healthy 18% over the $712 from October 2020.

Overall, the Almaden Valley real estate market appears to be resuming a more sustainable pattern. We can expect things to continue cooling through the holidays as is what we expect for this time of year. If you’re thinking about buying or selling, give me a call!

October 2022 Almaden Valley Real Estate Market

Run Turkey Run is Back!

run turkey run 2022Happy Thanksgiving to all my readers!

Almaden’s annual Thanksgiving “leftovers” Run Turkey Run event is finally back after the pandemic! The event will be held on Saturday, November 26th, at 8:30 AM. Run Turkey Run is a Thanksgiving-themed fundraiser which supports Bret Harte Middle School’s Booster Club. As many of you know, each year I support various fundraising events to benefit Almaden’s public schools, and right now I am proud to be one of the Gold Sponsors for this event.

Runners can participate in the 10k race, which begins at 8:30 am, or the 5k race, which begins at 8:40 am. The event is open to participants of all ages, and the run begins and finishes at Leland High School.

T-shirts and registration packets are available for purchase at Bret Harte Middle School’s cafeteria until November 25th for $35, and for $40 on November 26th for late registration on the day of the event. Pre-race packet pickups will be held at Bret Harte on Wednesday, November 23rd from 2:00 PM to 4:00 PM and on Friday, November 25th from 4:00 PM to 6:00 PM. Be sure to show your support for Bret Harte’s Booster Club by participating! Join in the fun!

For more information regarding Run Turkey Run 2022, click here or call Bret Harte Middle School at (408) 535-6270.

Almaden Valley Halloween 2022

Almaden Valley Halloween 2022Trick or Treat? Halloween is here. Almaden residents, are you ready for the spirit of Halloween this year? If you are giving out candy, do consider putting yourself on the Nextdoor neighborhood treat map so the little tricksters don’t miss your home.

Almaden neighborhoods are promising to be spooktacular this weekend. In the Graystone neighborhood, look out for the Watanabe family’s Disney themed Halloween display, especially for the little ones; they will also be passing out allergy friendly treats. On Alston Way, the Miller family promises a frightful and ghoulish experience with their display of ‘Nightmare on Alston Way’.

Villagewood Way is hosting a neighborhood potluck block party on Monday, October 31st, from 6:00 pm to 9:00 pm with candy and a kid-friendly movie. All are welcome. The Almaden Neighborhood Church is organizing a “Trunk or Treat” on Sunday, October 30th, from 6pm-8pm. Participating families are invited to decorate the trunks of their cars and pass out candy in the church parking lot. This is a fun and free community event. For more information, visit: www.almadenchurch.org.

While you are enjoying the spirit of Halloween with your families and little ones, ensure a safe Halloween for everyone. Be especially careful with pets around pumpkins, candles and jack-o-lanterns. The San Jose Fire Department has put together a Halloween safety guide for those out celebrating. For information on these, visit: https://bit.ly/HalloweenSafetySJFD.

Post-Halloween, let’s all be mindful of the environment. The County of Santa Clara Household Hazardous Waste Program is offering free Halloween-related household hazardous waste disposal (HHW) by appointment. Please consider using their service for decorations with lights, electronics, batteries, and costumes with paint etc. Go to HHW.org or call 408-299-7300 to make a free drop-off appointment.

Happy Halloween 2022!

Harvest Festival at Almaden Community Center

Harvest Festival at Almaden Community CenterThe Almaden Community Center is hosting its 15th Annual Harvest Festival this weekend, on Saturday, October 15th from 11:00 am to 4:00 pm. This is an event that you can enjoy with the entire family, but it’s extra special for kids.

Create beautiful harvest themed arts and crafts items at the arts-n-crafts area, play carnival games, find pumpkins for your fall decor at the pumpkin patch or experience some freaky, scary moments at the haunted hallway.

For more information call: 408-268-1133.

Leland Dandiya Raas Night 2022

Leland Dandiya Raas Night 2022Leland High School’s hugely popular annual fundraiser, the Leland Dandiya Raas Night, is happening this weekend on Saturday, October, 15th, 7:00 pm to 11:00 pm at the Leland gym. This fun, colorful music and dance event is hosted by The Leland High School Parents’ Club. Patrons can dance to live music performances by Asim and Madhvi Mehta. Snacks, beverages and dandiya sticks are available for purchase.

For more information, visit: http://www.lelandparentclub.com/dandiya.html, or call: (669)-696-3977.

Drop-In-Sports Back at the Almaden Community Center

Drop in sports at almaden community centerGreat news for the community! Drop-in-sports are back at the Almaden Community Center. You can play Volleyball on Friday nights, and Basketball and Table-Tennis from 9am to 12pm on Saturday mornings.

Location:
Volleyball: at the Gym. Hours: Fridays – 6pm to 8pm.
Basketball: at the Gym. Hours: Saturdays – 9am to 12noon.
Table-Tennis: at the Community Room. Hours: Saturdays – 9am to 12noon.

Drop-in pricing:
Adults: $5.50 per session (Monthly: $27, Annual: $145)
Youth (14+), Seniors and Disabled: $2.75 per session (Monthly: $21, Annual $145)

For more information, call the Almaden Community Center at (408) 268-1133, or visit:
https://www.sanjoseca.gov/Home/Components/FacilityDirectory/FacilityDirectory/4/2028

July 2022 Almaden Valley Real Estate Market Update

The July 2022 Almaden Valley real estate market is showing signs of normalizing after two years of dramatic imbalance that strongly favored sellers and sent home prices on an upward trajectory. Inventory has increased significantly, assisting in the transition of the market to buyer-driven. On a national level, buyers seem to be hesitating home purchases due to mortgage rates and other economic factors. With the number of pending and sold single family homes retracting from what we were seeing over a year ago despite the increase in inventory, it is likely that our real estate market is reacting in a similar manner. Although we usually see a cooling happening the end of summer, the graph below demonstrates that we are indeed seeing a healthy increase in homes for sale.

Where we are seeing strong evidence that the seller’s market is retreating is in the average price per square foot. It went from $1027/sqft in June to $898 in August. Much of this can be due to the afore-mentioned seasonal fluctuation we see this time of year. However, we are seeing over double the months’ worth of inventory (up to 2.9 months in July versus 1.2 months in June) plus an increase in days on market from 11 days in July 2021 to 24 days in July 2022.

All this points to a more normal real estate market. Although there are plenty of buyers in the market for homes, the increasing number of sellers mean there is more choice and buyers are less likely to get into bidding wars for available homes. This means that sellers will need to do more to differentiate their homes from others on the market and capture the attention and interest of buyers. If you are thinking of selling your home in our changing market, contact me and let me show you how to can make YOUR home stand out from the others.

Bar Graph: Almaden Valley Real Estate July 2022

June 2022 Almaden Valley Real Estate Market Update

Recent data indicates that the Almaden Valley real estate market is transitioning away from the strong seller’s market it has been for a while. The 36 single family homes offered on the market in June was the highest that inventory has been in over two years. The number of pending contracts has continued decreasing since March, although sales have remained fairly stable over that same time period.

Although an increase in inventory and decrease in sales would indicate a move towards a buyer’s market, the sales price per square foot seems to still favor sellers. June’s average price per square foot logged in at $1027/sqft, up slightly from May’s $997 but down from April’s market high of $1078. This indicates that buyers may not be as active in the market as they’ve been in the past but are willing to spend money. It DOES however signal that, with increased inventory, buyers are waiting for “the right” home to come along rather than engage in bidding wars with other buyers for a too-small number of available homes. This means that sellers might have to change their marketing strategy to gain the attention of these buyers.

If you are thinking about selling your home in this changing market, give me a call so I can show you how I can help!

Bar graph: July 2022 Almaden Valley Real Estate Market Update