August Market Update
If historic trends are any indication, Almaden Valley real estate is entering the holiday season right on time. Generally speaking, August/September sees the number of homes on the market and under contract drop until they bottom out in around December. In looking at data over the last several years, it looks like we’re right on time.
When studying the market over the last two years, one thing that stands out is that the number of homes on the market has dropped significantly, but the number that have sold has remained fairly stable as the graph demonstrates. The first week of September 2012 saw 59 single family homes for sale in the MLS. The same time in 2013 saw 42 homes, and this week there were 30. 35 single family homes had sold in August 2012, 54 in August 2013 and 39 last month.
Although we are entering the traditionally slower-paced holiday season, buyers are still eager to purchase. Now is an excellent time for sellers to put their homes on the market. Since the trend is for home owners to wait until the post-holiday season upswing to list their homes, those who do so now will face less competition for buyers.
If you would like to know how you can take advantage of the unique nature of Almaden Valley real estate, contact me and let me show you how I can help!
July Almaden Valley Market Update
Almaden Valley real estate continues to be a strong seller’s market. The surge in inventory of single family homes that we saw the beginning of June has all but evaporated, although it has increased slightly from last week. We’ve been experiencing a shortage of inventory for the better part of two years, which could explain why there is so much pent-up demand from buyers. Homes continue to sell at a brisk rate; the average days on market for Almaden Valley single family homes was 20 days in July. The average days on market in July 2013 was 23, but in July 2009 it was a 72 days, a stunning difference when compared to our recent market activity!
The average price per square foot withdrew somewhat in July, dropping slightly below levels to $521 from a high of $538 in June. Although we DID see a decrease, the overall trend is upward, and it is common to see months of increase followed by months of slight downward pressure.
June Almaden Valley Market Update
Inventory remains tight for Almaden Valley single family homes, with 39 available Monday July 14 versus 42 about a month ago. The number of homes under contract dropped from 57 to 42 over the same time frame, a clear indication that demand for homes is exceeding demand. The average price per square foot increased to $543 in June, up $16/sq.ft. from the previous month.
When we look at numbers from a year ago, we can see how hot the market is. The average price per square foot in June 2013 was $480, compared with the afore-mentioned $523 in June 2014, indicating a strong demand. With only about one month’s worth of inventory on the market, all indications are that we are in a strong seller’s market.
If you are thinking about selling your Almaden Valley home, call, email or text message me and let me show you how you can take maximum advantage of our unique market.
