The number of listings on the market in Almaden Valley dropped from 72 last Monday to 65 this Monday, while listings under contract increased from 34% to 38% during the same time frame. Traditional (ie non-distressed) listings dropped from 63 to 57 and the percentage under contract increased from 28% to 30% from last Monday.
The Almaden Valley real estate market continued to decrease slightly in what is most likely the normal seasonal slow-down we see every year at this time. The total number of single family homes for sale decreased from 74 last week to 72 this week, while the percentage of properties under contract dropped from 35% to 34% over the same time. Traditional (ie non-distressed) homes experienced the same trend, from 65 single family home for sale last Monday to 63 today, and the percentage under contract dropping from 29% to 28% over the same time. The interest rates offered by some banks dropped slightly. Although buyers are still being lured by the historically low interest rates, it remains to be seen if the rates will motivate buyers to act during the holiday season when we usually see a slowdown in sales.
This past week saw a slight improvement in the Almaden Valley real estate market from the previous week. The total number of single family homes currently for sale decreased from 80 to 77, while the percentage of properties that are under contract increased slightly, from 35% to 36%. The number of traditional (ie non-distressed) single family homes currently for sale dropped from 71 to 68, and the number under contract remained at the 30% we saw last week.
Interest rates from some banks edged upward slightly, but still remain an attractive incentive for buyers to make the jump from looking at homes to purchasing them.
This past week in Almaden Valley saw the market staying virtually the same as it has been the past few weeks. The number of single family homes listed as available on the market dropped from 77 last week to 74 this week, but the percentage of listings under contract remained almost the same, dropping from 36% to 35% over the same time frame. Traditional (ie non-distressed) single family homes experienced much the same trend, dropping from 68 available homes to 65 this week, and a drop in listings under contract from 30% to 29% over the same time frame. As we pass through the holiday season, I anticipate we will continue seeing the gradual cooling of the market that we see every year at this time.
Interest rates have drifted up and down slightly, but remain an attractive incentive for buyers to make the jump from looking at homes to purchasing them.
The number of distressed properties in the pre-foreclosure/auction/bank owned portion of the report increased for the third week in a row, after several weeks of gradual decrease.
The number of active listings in Almaden Valley increased slightly from last week, from 76 to 80 this week. The percentage of listings that are in escrow decreased slightly, from 38% to 35%. Traditional (ie non-distressed) listings experienced a similar change, from 67 to 71 active listings and from 31% in escrow to 30% this week. This could very likely be the early stages of the annual slow-down we see around the holidays.
Interest rates remain fairly much at the same level as last week.
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.
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!!
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.
We saw a definite improvement between last week’s report and this week’s. The number of available homes in Almaden Valley decreased from 85 last week to 83 this week. In addition, the number of homes that are now under contract increased significantly, from 35% to 38%. Traditional (ie non-distressed) listings posted even better numbers; available homes decreased from 79 to 76, and the percentage under contract increased from 26% to 31%.
Interest rates have remained low, school is back in session and buyers are now back on the market after summer vacations. Open house traffic over the weekend was moderate. The Almaden Art and Wine Festival may have taken some of the traffic. But homes are still selling!! I now have 29 closed sales for 2011 as well as 7 pending!
Therese Swan, Almaden Valley’s #1 Realtor, has just released a new tool to help Almaden home buyers find the home of their dreams. Buyers can now search Almaden Valley Real Estate by School and/or 2011 API School Scores!
UPDATE: Therese has since enhanced her website with the following pages that provide even more comprehensive tools to achieve your goals:
