Almaden Valley Real Estate Market June 2024
Almaden Valley Real Estate Market June 2024 – The Almaden Valley single family home market ended June on a quiet note. After April’s and May’s strong showing, the market is settling into the seasonally quiet summer period. Inventory increased significantly since May; 32 homes for sale in June versus 25 the previous month. The number of homes that sold dropped from 42 in May to 21 in June, and the number of pending contracts experienced a similar drop from 32 to 20 during the same time period.
All that being said, the average price per square foot increased from $993 in May to $1,024 in June, indicating that there is still keen buyer interest in Almaden Valley despite the sleepy summer. Mortgage rates have remained fairly steady, a factor that doubtlessly is contributing to the continuing buyer interest in Almaden Valley.
Selling a home in our dynamic market can be challenging. If you are contemplating selling YOUR home, contact me now and let me show how I can help make that home selling dream a reality.
Almaden Valley Real Estate Market April 2024
Almaden Valley Real Estate Market April 2024 – The Almaden Valley single family home market wrapped up April 2024 in stunning fashion. All major market factors were up from not only last month, but the same time last year. The number of homes that sold in April was up 25% from March; 30 versus 24. The number of homes under contract shot up 60%; 40 last month versus 25 in March. Although the 30 homes that sold in April 2024 were a respectable increase of 11% from the same time last year when 27 homes sold, the 40 homes under contract are a stunning 43% higher than the 28 from the same time last year.
Average price per square foot showed a modest increase of a little over 6% from March ($1,025/sqft versus $963/sqft) but were an impressive 25% higher than same time last year, when the average price per square foot was $818.
Almaden Valley real estate has been favoring sellers for quite a while, and that pattern continues. Buyer interest in the area remains keen, and there doesn’t appear to be anything at this time to indicate this will change any time soon. If you’re thinking about buying or selling, contact me now!
Almaden Valley Real Estate Market Update January 2024
The Almaden Valley single family home market started the year on a high note. Although we saw a drop in homes sold in January (12 sold versus 16 in December), the market experienced a jump in the number of homes under contract (14 in January versus 10 in December.) The average price per square foot edged upward, from $921 in December to $967 in January.
We usually see the market warming up around the first of the year as it emerges from the holiday slow-down. However, when we compare to January 2023, we can see that January 2024 is ahead of the game. January 2023 saw 13 homes under contract and 8 sales versus 14 under contract and 13 sales of this year. In addition, the average price/sqft was $802 a year ago versus $967.
Part of this undoubtedly is due to tight inventory. There were 21 homes on the market in January 2023 versus 13 this year. This represents about 2.6 months’ worth of inventory in January 2023 versus 1.1 month in January 2024. The Almaden Valley real estate market has been tending towards being a seller’s market but has flirted at times with swaying towards buyers. But January definitely belonged to the sellers.
If you’re thinking about buying or selling, give me a call!
