February 2015 Almaden Valley Market Update
The seasonal holiday slowdown we see in Almaden Valley real estate is firmly behind us, and February sales data shows we are on target to hit our usual high time in spring. Sellers are putting homes on the market (albeit in not enough numbers to satisfy buyer demand) and the dramatic increase in pending sales demonstrates that buyers are ready to buy.
Although the number of homes offered for sale is still too low for the demand, they are up when we compare data from the same time last year. However, despite the fact that the number of homes for sale in February 2015 was 12% higher than it was in February 2014, the fact that the number of homes sold during this same time frame increased almost 19% indicates that buyers are eager for more inventory.
The slight drop in average price per square foot that we saw in January more than recovered in February. In December 2014, it was $536/sq.ft., edging downward slightly in January to $525/sq.ft. and rebounding to $541/sq.ft. last month. This is the highest we’ve seen it since September 2014 when the average price per square foot topped $554, a market high for the past several years.
Almaden Valley real estate remains firmly a seller’s market. If you are thinking about selling, give me a call, text or email and let me show you how I can help you get the most for your home!
October 2014 Market Update
Almaden Valley real estate continues to strongly favor sellers despite being in the midst of the seasonal slowdown. Although the number of sold single family homes in October 2014 (16) is down significantly from October 2013 (28), the average price per square foot has increased over 9% over the same time period ($507 versus $459.) This price increase indicates that buyers continue to be bullish on Almaden Valley single family homes.
Although many buyers and sellers choose to postpone entering the real estate market during the holidays, now can be the perfect time to market a home. With many sellers pulling their homes from the market this time of year and many more deferring offering their homes for sale, the decreasing competition for buyers can work out to a seller’s advantage. If you are thinking about selling your Almaden Valley home, give me a call or send me an email and let me show you how I can help sell your home!
September Market Update
Almaden Valley real estate continued the annual holiday cooling trend in September, although we did see a bit of an upswing in the number of single family homes in pending status (ie had accepted offers.) When we compare September 2014 with September 2013, we see that the number of single family homes for sale and those that have sold have dropped significantly from the same time last year yet the number of homes that are pending has remained virtually the same. This indicates that Almaden Valley real estate is still in demand despite the drop in inventory. The average price has reached a high point of about $550/sq. ft. which merely supports the fact that buyers are still bullish about homes here.
Although many sellers think that the real estate market softens during the holidays, numbers indicate that buyers are actively looking for homes this time of the year. It could actually be in a home seller’s best interest to market their homes NOW, when other home sellers are taking their homes off the market or deferring sales until the holiday season are over. Fewer homes on the market mean less competition for hungry buyers.
If you are thinking about selling your home, give me a call or send me a message and let me show you how I can help you take advantage of this special time of the year!
