Tag Archive for: Almaden Valley Real Estate

The Almaden Valley residential real estate market ended the year on an uptick. Although there was a lot of unsold inventory in the summer months and early fall (see graph), much of that excess inventory disappeared by the end of the year and there were even a few multiple offers before the champagne glasses toasted in 2020. Although both Decembers ended the year with the same number of For Sale listings (14), the number of Pending listings in December 2019 was an impressive 66.7% higher than December 2018 (15 versus 9) while Sold listings were a stunning 92.3% higher last month (25 versus 13.). Average price per square foot didn’t see such enthusiastic growth, showing a slight decrease from the prior year. We started the year at $657/sf and ended it at $660/sf. Our peak was in June of 2018 with $788/sf.

For 2020, we can already see an improvement as we gear up for the spring selling season. Interest rates remain low and the economy is strong.

If you are thinking about selling your home in 2020, now is the time to start planning. Please call me as soon as possible.

The June 2019 Almaden Valley real estate numbers showed growth from May. The number of single family homes that sold increased a healthy 36% from the previous month (34 versus 25), while the number of such homes on the market increased a bit over 23% (58 versus 47). The average price per square foot increased $4 to $664.

When we look at current trends compared to the same time last year, we can see that buyers aren’t quite as bullish. Price per square foot in June 2018 was a market-peaking $757. The number of single family homes that sold at this time was 40, and the number of homes for sale was a mere 26.

Although supply is now higher than demand, the average days on market for single family homes dropped to a year-to-date low of 21 days, a number we haven’t seen since fall of last year. This indicates that buyers are still keen on Almaden Valley, but from my personal observations, they are attracted to updated, well-priced homes that show well. The savvy seller can do well in this market, but it takes more than putting a For Sale sign in the yard. If you are thinking about selling your home, contact me and let me show how I can help you make the best of this challenging market!

March 2019 Almaden Valley Real Estate Market Update… The Almaden Valley real estate market ended the month of March showing solid signs of recovery from the holiday doldrums. The number of single family homes under contract jumped from 19 in February to 35 in March, and the number of sales rocketed from 9 to 20 in the same time frame, while the number of single family homes on the market increased from 25 to 37. The average price per square foot inched up from $673 in February to $678 in March.

When we compare the Almaden Valley market performance to years past, we can see that the wild ride with sellers at the wheel has slowed down considerably, and the market continues showing signs that it is turning to a normal market. We are not seeing quite as many single family homes selling for more than the list price, indicating that inventory is more than meeting demand. The number of homes sold each month has been trending slightly downward, a sign that demand has cooled a bit from the past frantic activity we saw.

Make no mistake, demand for homes in Almaden Valley is healthy, but the market shift means it’s not quite as easy to sell as it was in times past, when almost all it took was putting a “For Sale” sign in the yard. The spirited bidding wars are not nearly as common as they were, either. But homes that are move-in ready and priced well still receive a lot of attention. And now that all our rain has appeared to have stopped, it is quite possible that buyers will soon be out again in droves.

If you are thinking of selling your home, contact me and let me show how I can help you make the most of our changing market!

The November 2018 Almaden Valley real estate market report reflects that the market is winding down for the year as both buyer and seller interest wane with the approaching holidays. We’ve seen a few patterns in 2018 that give some indication that our real estate market is transitioning from one controlled by sellers to one that favors buyers, but we’ll wait until the end of the year to go into depth.

Enjoy the holiday season!

September 2018 Almaden Valley Real Estate Market Update… September wrapped up on a quiet note in preparation for the upcoming holiday season. The number of single family homes on the market jumped from 33 in August to 39 in September, while the number of homes under contract dropped from 33 to 19 and the number sold remained 24 over the same time period. The drop in pending sales is very likely due to a buying frenzy that happened in August, perhaps buyers trying to beat the next interest rate hike. The average sold price per square foot edged up from $697 in August to $723 in September, indicating that buyers are still keen on Almaden Valley real estate and sellers are responding to the near-record average sale price per sqft by offering their homes to the market.

Observing the trends over the last year and more, it appears that our real estate market is luring home owners to sell and inventory is gradually increasing above the critical levels we’ve gotten used to. Generally speaking, as inventory increases in a seller’s market such as we’ve been experiencing, the balance reaches a point of equilibrium between the number of buyers and the number of homes on the market. Overall, though, we are seeing the seasonal transition to a quieter real estate market.

If you’d like more information about current market trends or are thinking about buying or selling a home in the Almaden Valley, call, text or send me an email and I’ll be glad to help you out!