July 2017 Almaden Valley Real Estate Market Update
July 2017 Almaden Valley real estate market update… July figures of the Almaden Valley real estate market are in, and if historic figures are any indication we should have reached the low point of the annual summer doldrums. We would not be surprised to see a slight autumn rally and then the holiday season slow-down that happens every year.
There is one anomaly this year, and that is the number of single family homes offered on the market on any given month has been lower than the number of sold homes for most of the year. There are many possible reasons for this. One is that many homes are not listed on the MLS until they are sold. In other words, many Realtors are getting homes sold before they can put them on the MLS. Generally speaking, this type of sale indicates a strong demand for homes. The data from last month would seem to bear this out. When we look at the number of single family homes on the market in July 2017 compared to last year, we see an over 64% lower number of homes this year yet the number of homes that sold are down only a bit less than 6%. Inventory is at some of the lowest rates that we’ve seen in years.
In addition, the price per square foot increased a rather hefty 9.4% from June 2017 and at $627/sqft is among the highest rate we’ve seen.
Overall, it would appear that the Almaden Valley single family market is favoring sellers. Would you like to know the value of your home? Call me for comps, or do it yourself with my home valuation tool ChalkBug.com!
June 2017 Almaden Valley Real Estate Market Update
June 2017 Almaden Valley real estate market update… As summer temperatures rise, the Almaden Valley single home real estate market cools a bit in a seasonal pattern we observe pretty much every year. Kids are out of school, summer vacations are planned and the sale and purchase of homes seems to be the farthest thing from many people’s minds. It would not surprise me in the least to see the market taking a summer nap until fall approaches.
Meantime, if you’ve been thinking about selling your home and wonder what it might be worth on the market these days, take a look at our proprietary easy-to-use home valuation tool ChalkBug and then give me a call!
May 2017 Almaden Valley Real Estate Market Update
May 2017 Almaden Valley real estate market update… The Almaden Valley real estate market shows little signs of slowing down for the summer, if last month’s data is any indication. Generally speaking, we start seeing single family inventory creep upwards during late spring/early summer, but this year we’ve seen a decided drop of almost 23% from April and 50% compared to the same time last year. Sales actually outpaced listings in May and the number of single family homes that were under contract last month increased quite notably from April.
The average price per square foot retracted slightly from April to May, from $618 to $612. However, it was an increase of a bit over 5% from May 2016 when it was about $582, which indicates a stable rate of growth.
If you’re thinking of buying or selling your home, give me a call!
