November 2019 Almaden Valley Real Estate Market Update – The holiday season is firming up to be a good one for Almaden Valley real estate. We usually see activity decrease the last few months of the year, and although this pattern is repeating as expected when compared to previous months in the year, the number of homes that were under contract and sold are higher than they were the same time in 2018. The number of single family homes offered on MLS dropped dramatically from October to November, which is to be expected. However, the number of homes for sale last month was a rather dramatic 30% lower than the same month last year (21 versus 30.) The number of homes that sold increased over 9% from the same time last year (24 versus 22) but the number of homes that went under contract increased a whopping 40% (21 versus 15.) Even the average price per square foot experienced a healthy 6% jump from not only the same time last year, but also from last month ($691 for 11/19 versus $647 for 11/18 and $652 for 10/19.)
In short, Almaden Valley real estate was quite spirited last month. Whether or not this is an indication that the market may be swinging a bit away from favoring buyers as it has been for awhile to favoring sellers remains to be seen, but with the average sale price still below the $703/sqft high we saw in September 2018, there is still room for buyers to find bargains, and for sellers to find eager buyers. If you are thinking about buying or selling in this exciting market, contact me and let me show how I can help you get the best deal.