July 2016 Almaden Valley Real Estate Market Update
Update on the July 2016 Almaden Valley real estate market… Almaden Valley single family home sales ended on a quiet note in July, with the number of sold homes down almost 30% from June and down over 8% from July 2015. The number of listings for sale was up almost 17% from last month, and a dramatic 55.6% from the same time last year. The last two months have seen increases in the number of single family homes offered for sale to levels we haven’t seen in several years, indicating that the market may be reaching an equilibrium between supply and demand.
Although the volume numbers indicate a balancing between buyers and sellers as well as entering our seasonal holiday cooling cycle, the price per square foot indicates there is plenty of buyer interest. July closed out at $616/sqft, up from $591 the previous month, and $581 in July 2015.
If you are thinking about buying or selling a home, give me a call and I’ll show you how to make the most of the current Almaden Valley real estate market!
June 2016 Almaden Valley Real Estate Market Update
The Almaden Valley real estate market ended June 2016 on a high note. The number of single family homes that sold in June was up a whopping 51.6% from the previous month, and up a respectable 6.8% over the same time last year. The number of homes on the market increased over 11% from May figures, and a healthy 27.7% from June 2015. Prices cooled slightly, from $602/sqft in May to $591 in June. Historically, June/July heralds the start of a cooling trend that will continue through the end of the year. With school starting soon and summer vacation time rolling to a close, it is not surprising to see a suspended interest in purchasing and selling homes, and I am anticipating this year to be no different.
However, the “summer doldrums” can be great news for buyers who are willing to make a purchase during this timeframe. Fewer buyers looking for homes can translate into more selection and the possibility of motivated sellers who want to complete their sales prior to the start of fall. If you are thinking about purchasing a home, give me a call and let me show you how I can help make the most of the current market!
May 2016 Almaden Valley Real Estate Market Update
Sellers are coming out in force in the Almaden Valley real estate market. As of Thursday, June 9, there are 65 single family homes listed for sale on the MLS, a number we haven’t seen on our weekly tracking report since 2012!
Sales are up as well. Although the number of sold single family homes is down from last month by about 33% and from April 2015 by about 24%, pending sales is up significantly; over 34% since last month, and a whopping nearly 46% from the same month last year!
We are also seeing prices increasing as well, with a jump from $566/sq.ft. last month to $605/sq.ft. Prices are up from the same time last year, when they were $592/sq.ft.
