January 2020 Almaden Valley Real Estate Market Update
January 2020 Almaden Valley real estate sales figures for single family homes indicates that 2020 is off to a very good start. The number of homes for sale crept up from 14 in December to 17 in January, while the number of homes under contract practically exploded from 15 to 23 in the same time frame. The number of sales dropped from 25 to 15, but when the dramatic increase in pendings is taken into consideration, it appears that this is nothing more than a lag due to the holidays. When compared to January 2019, the numbers look even better. Not only were the number of homes on the market and pending higher this year than last, but the number of sales was higher as well.
If you’re thinking of getting into the market, give me a call and let’s talk!
December 2019 Almaden Valley Real Estate Market Update
The Almaden Valley residential real estate market ended the year on an uptick. Although there was a lot of unsold inventory in the summer months and early fall (see graph), much of that excess inventory disappeared by the end of the year and there were even a few multiple offers before the champagne glasses toasted in 2020. Although both Decembers ended the year with the same number of For Sale listings (14), the number of Pending listings in December 2019 was an impressive 66.7% higher than December 2018 (15 versus 9) while Sold listings were a stunning 92.3% higher last month (25 versus 13.). Average price per square foot didn’t see such enthusiastic growth, showing a slight decrease from the prior year. We started the year at $657/sf and ended it at $660/sf. Our peak was in June of 2018 with $788/sf.
For 2020, we can already see an improvement as we gear up for the spring selling season. Interest rates remain low and the economy is strong.
If you are thinking about selling your home in 2020, now is the time to start planning. Please call me as soon as possible.
November 2019 Almaden Valley Real Estate Market Update
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.
