January Almaden Valley Market Update
Almaden Valley real estate appears to be recovering from the annual holiday doldrums. The number of active single family listings is up from 16 last month to 21 this month, and pending listings are from 25 to 33, indicating that home owners are putting their properties on the market and buyers are snapping them up. The average price per square foot, which was $473.50 last month, increased slightly from December 2013 and when compared to January 2013, increased a healthy 14.8% (up from $412.90.)
The biggest issue Almaden Valley real estate is facing is a shortage of inventory. It is a great time to be a seller! If you would like further information on how to take advantage of our unique market, get in touch and let me show you how I can help!
2013 Almaden Valley Real Estate In Review
The close of 2013 saw the Almaden area real estate market wrapping up the usual holiday season slowdown. The December inventory of single family residences was lower than we have seen in many years. Despite this shortage of available homes, the number of completed sales was only slightly below the number from December 2012.
Price per square foot ended the year slightly lower than November 2013 numbers, but up a healthy $66, from $400/sq.ft. in December 2012 to $466 December 2013. This price increase indicates that the shortage of homes is still at critical levels in relation to demand. In fact, statistics show that the year ended with about two weeks’ supply of active listings in Almaden Valley.
With mortgage rates remaining fairly stable, the passing of the holiday season should see the Almaden Valley real estate market picking up steam again. How robust the market responds will depend in large part on sellers putting their homes up for sale, and sellers are likely to remain in control for the foreseeable future.
If you would are thinking about selling your home, give me a call and let me show you how I can help you capitalize on this seller’s market!
Selling Your Home During the Holidays Can be a Savvy Move
As summer winds to an end, so too winds down the increase in number of single family homes being put on the market in Almaden Valley. And so begins the holiday slowdown we see every year.
The number of homes on the market as of now is 42, down from 50 about a month ago. The number of homes under contract have decreased from 61 to 44 during this same time frame. If we look back at around the same time this year, we had 65 homes on the market and 55 under contract.
