Almaden Valley Real Estate Market Update – October 10, 2011
The number of single family properties in Almaden Valley that are on the market crept up slightly, from 74 last Monday to 76 today. However, the number of pending escrows also increased, from 37% last week to 38% this week. Traditional (ie non-distressed) properties experienced similar changes, with the number of properties on the market increasing from 66 to 67 and the percentage of pending escrows increasing from 31% to 32%. Although the number of active listings increased, the percentage of pending escrows has pretty much recovered from the dip we saw last week.
Interest rates are remaining stable, though some banks posted a slight increase. Even so, rates are so low that buyers who are contemplating purchasing are being lured into acting by the historically low interest.
Almaden Valley Real Estate Market Update – October 3, 2011
The number of single family homes available for sale in Almaden Valley continued to decrease, down to 74 this Monday versus 77 the same time last week. The percentage under contract dropped slightly, to 37% from 38% during the same time. Traditional (ie non-distressed) properties followed similar trends, with active listings dropping from 68 to 66 and the percentage under contract dropping from 33% to 31%.
The market still has a lot of fire. Homes are selling. Interest rates are unbelievable. I just sold my listing on Crystal Springs in the Almaden Country Club neighborhood last week and have offers on my new listing on Hillcrest, also in the Country Club. Neither home has even hit the market. Buyers are buying!!
Almaden Valley Real Estate Market Update – September 26, 2011
The Almaden Valley real estate market continued its post-summer improvement. The total number of single family residences that are currently for sale dropped from 83 last week to 77 this week, and the percentage of homes under contract remained at 38%. The number of traditional (ie non-distressed) homes that are on the market decreased from 76 last week to 68 this week, and the percentage under contract increased from 31% to 33%.
As we approach the holiday season, we anticipate that the number of homes put on the market will drop somewhat. However, the number that I concentrate most on is the percentage of homes that are under contract. This number indicates whether inventory is in over supply, under supply, or balance . Generally speaking, the larger the percentage is, the healthier the market.
