2023 Almaden Valley Market Overview
The Almaden Valley single family home market ended 2023 on a quiet note in the depths of the holiday slow-down we see every year. The number of homes for sale was dramatically down from the previous month; 8 in December compared to 13 in November, a number that definitely favors sellers. The average price per square foot nudge upwards a bit, from $910 to $920, reinforcing the status as a seller’s market.
In looking over the performance of the real estate market in 2023, the big takeaway is that we did not see the rather dramatic swings of 2022. Instead, 2022 saw slightly more sales – 281 versus 255 in 2023 – but overall, the market has remained stable.
September 2023 Almaden Valley Real Estate Market Update
Data for the Almaden Valley real estate market indicates we have entered the seasonal lull. The number of homes on the market has increased from August by about 8% and the number of under contract and sold homes retracted slightly, also around 8%, which is the pattern we expect to see this time of year. The number of homes that sold in September 2023 was about 19% lower than the same time last year, but the number of homes for sale was also lower this year by 17%. The number of homes under contract was actually higher last month by 1.5%
Overall, the Almaden Valley single family real estate market has been pretty stable. The average price per square foot was $983 September 2023, $987 the previous month and $949 same time last year, indicating that prices have also remained steady. If you’re thinking about buying or selling, give me a call!
July 2023 Almaden Valley Real Estate Market Update
The Almaden Valley single family market continues to show strength as inventory remains tight and buyer demand sustains. When compared to June 2023, we DID see a bit of a drop in the number of homes on the market, listings that sold and listings that went under contract, but when compared to the same time last year, sales were much higher. This is likely due at least in part to the fact that inventory remains critically low. We have had less than one month’s inventory since spring of this year, varying slightly from .9 months to .6 months.
The average price per square foot has retracted slightly from June 2023 and is also slightly lower than it was the same time last year. This indicates that the market is in somewhat of a balance between sellers and buyers. Although inventory is tight, buyers appear to be a bit more discerning. However, well marketed homes are still finding buyers. If you are thinking about selling YOUR home, call me and let me show you how I can help sell your home in our challenging market!
