Tag Archive for: Almaden Valley Real Estate

June 2018 Almaden Valley Real Estate Market Update… Although June’s listing, pending and sold data for single family home sales in Almaden Valley is for the most part the “same old, same old” story of short supply and hot demand, we DID reach a milestone for the average price per square foot of $757. According to MLS data, this is the highest it has been in over ten years. Although prices have been gradually increasing since 2012, quarterly trends show robust gains since the end of 2017.

In evaluating the market over the last year, we saw inventory slightly up from June 2017 but remaining unchanged from May to June 2018. The number of pending and sold single family homes is lower in June compared to May of this year. To see why we saw this drop happen, all we need to do is step back to April when we saw a sudden influx of new single family home listings. Combined with the increase in price per square foot, it is probably safe to say that buyers responded heartily to the increased inventory from April which drove the pending and sold numbers up in May.

Any way one looks at it, we are in a distinctly seller-driven market. Summer is traditionally one of the most active times of the year for Almaden Valley real estate, and we have another month or so before the traditional seasonal slowdown starts. If you are thinking about selling your home, contact me and let me show you how you can make the most out of the summer hot market!

April 2018 Almaden Valley real estate market statistics indicate we are entering the summer peak season. The number of single family homes on the market increased almost 61% from March to April, and sales increased by 56% during the same time period. Although the price per square foot dropped about 3.5% from March to April, this is also a trend we tend to see as we enter summer.

Homes for sale in April 2018: 37 units

• Up 60.9% compared to last month
• Up 8.8% compared to last year

Homes closed in April 2018: 39 units

• Up 56% compared to last month
• Up 5.4% compared to last year

If you’d like more information about current market trends or are thinking about buying or selling a home in the Almaden Valley, give me a call!

December 2017 Almaden Valley Real Estate Market Update… 2017 ended on a high note for Almaden Valley real estate. The inventory of single family homes has been tight all throughout 2017, and our December numbers demonstrate the general trend we saw this past year: low inventory and brisk sales. Of course, we expect to see activity drop to yearly lows in December due to the holidays, and 2017 was no different. The number of homes offered on the market dropped dramatically as the last month of the year rolled past, from 15 in November to 9 in December. The number of homes that sold dropped from 25 to 21 and the number under contract from 23 to 18 during the same time frame.

However, when we compare December 2017 with December 2016, we get a pretty good indication of just how active the market was last year. There were over 18% more homes for sale in 2016, yet the number of single family homes under contract was 20% higher this past year, and the number sold was over 10% higher. Less inventory plus higher sales is a pretty solid indicator that Almaden Valley real estate remains in a strong seller’s market, which generally translates into stable to increasing prices. And, this is indeed what has played out. December price per square foot was $670, a whopping $74 higher than November’s $586 and a decidedly healthy increase over the $614 we saw December 2016. In fact, December’s price per square foot is the highest we’ve seen it in over five years.

Is the timing right for you? Give me a call!

November 2017 Almaden Valley real estate market update… Almaden Valley real estate is experiencing the expected seasonal lull. The numbers of single family homes on the market, under contract and sold are down from October. Price per square foot dropped as well, from $619 in October to $590 in November, indicating that demand has softened, something we entirely expect to see this time of year as both buyers and sellers ease back from the market for the holidays.

When we compare November 2016 with November 2017, we can see that overall demand is strengthening. The number of active single family listings on the market in November 2016 was 29, as compared to 15 in November 2017. This gives us a pretty strong indication that inventory is tight. Price per square foot is up 4.6% this year at $590, compared to $564 last year. Although the number of homes that sold remained virtually unchanged during this timeframe, the number of homes under contract was dramatically higher this year (24 as compared to 19 the same time last year) despite fewer homes being on the market.

We should start seeing more buyers and sellers entering the market starting in January, but we’ve now entered what is likely to be the slowest time of the market. Prices are generally lower during the holidays than other times of the year, due to the slowdown in buyer activity. Now is a great time for buyers who are willing to sacrifice a bit of selection for favorable prices. If you’d like to know how you can take advantage of the holiday lull for YOUR home purchase, email, text or call me and let me show you how!