Almaden Valley Real Estate Market Update – August 15, 2011
The number of available single family properties continued the decline we first noted in late June, from 99 last week to 98 this week. However, this last week saw a decrease in the percentage of pending listings, from 39% last week to 33% this week. Researching this further, we saw a decrease in the number of new pendings this past week accompanied by a dramatic increase in the number of properties that completed the sales process. We’ve observed the same pattern in traditional (ie non-distressed) sales; available single family listings dropped from 92 last week to 90 this week, and the percentage of listings under contract dropped from 30% to 24%. Many families are squeezing in the last days of summer vacation before their kids go back to school. Plus there may be a few jitters with the volatility of the stock market in recent weeks. As is typical with the Almaden market, we expect the market to start picking up again soon once kids are settled back in school. Interest rates are at record lows and buyers want to take advantage of that.
Almaden Valley Real Estate Market Update – August 8, 2011
We saw a more robust improvement this past week than we’ve been experiencing. The number of available single family listings dropped from 104 the previous Monday to 99 today, while the percentage of listings under contract increased from 37% to 39% the same time period. For traditional (non-distressed) sales, the numbers indicated a similar improvement; available single family listings dropped from 96 to 92, and the percentage under contract increased from 27% to 30% . This is good news and it brings us back up to May levels for traditional sales.
Almaden Valley Real Estate Market Update – August 1, 2011
The market is still gradually recovering from the anticipated summer doldrums. The number of available single family listings dropped for the sixth straight week, from 106 last Monday to 104 this Monday. The percentage of listings that are under contract increased from 36% last week to 37% this week. For traditional (non-distressed) single family homes, the number of available listings dropped from 98 last week to 96 this week and the percentage of listings under contract held steady at 27%.
