July 2023 Almaden Valley Real Estate Market Update
The Almaden Valley single family market continues to show strength as inventory remains tight and buyer demand sustains. When compared to June 2023, we DID see a bit of a drop in the number of homes on the market, listings that sold and listings that went under contract, but when compared to the same time last year, sales were much higher. This is likely due at least in part to the fact that inventory remains critically low. We have had less than one month’s inventory since spring of this year, varying slightly from .9 months to .6 months.
The average price per square foot has retracted slightly from June 2023 and is also slightly lower than it was the same time last year. This indicates that the market is in somewhat of a balance between sellers and buyers. Although inventory is tight, buyers appear to be a bit more discerning. However, well marketed homes are still finding buyers. If you are thinking about selling YOUR home, call me and let me show you how I can help sell your home in our challenging market!
May 2023 Almaden Valley Real Estate Market Update
The May single family market in Almaden continued a trend of tight inventory, with the number of pending and sold listings outpacing the number of homes on the market. Although the number of homes that sold in May retracted slightly from April numbers, the number of pending transactions has continued to trend upwards.
In short, the Almaden Valley market appears to be in a stable mode with market control somewhat more favoring sellers than buyers. We see this in the increase in the average sale price of $923 in May versus $818 in April. As we enter the summer, we expect to see the market cool off a bit, with lower inventory, sales and prices, but buyer interest is remaining keen.
Although the real estate market looks favorable, it has slowed down compared to the same time last year. Buyers are still craving inventory, but we are not seeing sellers absolutely dominating as we have the past few years. We are seeing a bit more balance between buyers and seller.
If you are thinking about selling YOUR home, contact me and let me show you how The Swan can help you make the most of our ever-changing market.
February 2023 Almaden Valley Real Estate Market Update
Almaden Valley’s real estate market climbed out of the holiday doldrums in fine fashion in February. Under contract and sold single family homes posted healthy increases over January. We saw a decrease in the number of new listings during this time period, which may have been an anomaly as we usually see inventory increase as well as the market comes out of the holiday season. In fact, February numbers showed a scant one month’s of inventory versus the 2.6 months we saw in January. When looking at data for the past three years, February has experienced a similar low inventory, but usually an increase from January. This will bear watching as it could be an indication that there may be a shift from a buyer’s market to a seller’s market.
Overall, Almaden Valley real estate appears to be holding a fairly stable pattern. We aren’t seeing the astronomical sales numbers of 2021 when homes were selling faster than they were coming onto the market. Today, homes are taking longer to sell but data is showing there is plenty of interest in Almaden Valley homes, and well-priced homes are finding an eager market.
If you are thinking about selling your home in our always-changing market, give me a call and let me show you how I can help!
