Buyer Enthusiasm for Almaden Real Estate Continues into Late Summer
Almaden Valley real estate continues to be hot despite the slight late summer slowdown we generally see this time of year. The number of single family homes offered for sale increased from the beginning of the month and ended with some of the highest numbers we’ve seen since late last year. The number of listings that were under contract dropped slightly as did the average sold price, reflecting the seasonal variation we usually see during the summer months.
When we compare this past July 2013 to July 2012, we can see exactly how inventory-starved the Almaden Valley market is. July 2013 saw a significantly lower amount of inventory available, with a significantly higher number of homes under contract and sold. This indicates that buyer enthusiasm for Almaden Valley continues to be keen despite our predictable seasonal fluctuations.
Strong Sellers Market in Almaden Real Estate this Spring and Summer
Almaden Valley real estate still strongly favors sellers, although we saw a slight dip in the number of single family homes that sold in June as compared to May. As Summer is generally a time when real estate activity can quiet down a bit as families plan summer vacations, I don’t see this as something to be concerned about.
Another reason aside from seasonal fluctuation that I’m not concerned about this slight drop in activity is the fact that the average price per square foot continues to increase at a fairly steady rate and is, in fact, is around $90/sq.ft. higher than it was in June 2012.
Although sellers are starting to put their homes on the market in order to capitalize on the intense interest in Almaden Valley, inventory remains frustratingly low for the buyers who are in the market today. If you would like to know how YOU can capitalize on this incredible seller’s market, contact me and let me show how I can help!
Buyer Demand Outpacing the Supply of Almaden Valley Homes this Spring
Almaden Valley real estate remains an incredibly strong seller’s market, with buyer demand far outstripping the supply of single family homes that are on the market at any given time.
Compared to last month around the same time, the situation remains virtually unchanged, with 42 single family homes on the market then AND now. Today there are 63 properties under contract; a month ago, there were 61.
The number of distressed (ie short sale, foreclosure and auction) properties had dropped significantly over the same time frame, from 55 to 46. Since distressed listings tend to depress prices, this decrease plus the high demand by buyers will likely continue to drive home prices upward.
Now is a GREAT time to be an Almaden Valley home seller! Give me a call and let me show how I can help you sell YOUR home in this strong market!
