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Almaden Valley Real Estate Trends Chart

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August 2016 Almaden Valley Real Estate Market Update

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August 2016 Almaden Valley real estate market update… The Almaden Valley single family home market experienced an upswing in August. The number of homes that sold increased almost 12% from July, while the number of homes that went under contract increased a dramatic 39.3% from the previous month. When we look at inventory, we can see a possible explanation. The number of homes on the market dropped 30%, from 70 in July to 49 in August. As we are in the early stages of the holiday cool down we see every year, some of this decrease may be due to normal seasonal fluctuations, but it could also indicate buyers’ interest in concluding home purchases before the school year and holiday season starts.

The average price per square foot retracted a little over 4% from July, from $615 to $588, which may explain in part why there was so much buyer interest. Still, the price per square foot in August 2016 was 8.5% higher than the same time last year.

If you are thinking about buying or selling a home, give me a call and I’ll show you how to make the most of the current Almaden Valley real estate market!

August 2016 Almaden Valley real estate market

July 2016 Almaden Valley Real Estate Market Update

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Update on the July 2016 Almaden Valley real estate market… Almaden Valley single family home sales ended on a quiet note in July, with the number of sold homes down almost 30% from June and down over 8% from July 2015. The number of listings for sale was up almost 17% from last month, and a dramatic 55.6% from the same time last year. The last two months have seen increases in the number of single family homes offered for sale to levels we haven’t seen in several years, indicating that the market may be reaching an equilibrium between supply and demand.

Although the volume numbers indicate a balancing between buyers and sellers as well as entering our seasonal holiday cooling cycle, the price per square foot indicates there is plenty of buyer interest. July closed out at $616/sqft, up from $591 the previous month, and $581 in July 2015.

If you are thinking about buying or selling a home, give me a call and I’ll show you how to make the most of the current Almaden Valley real estate market!

July 2016 Almaden Valley real estate market

June 2016 Almaden Valley Real Estate Market Update

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The Almaden Valley real estate market ended June 2016 on a high note. The number of single family homes that sold in June was up a whopping 51.6% from the previous month, and up a respectable 6.8% over the same time last year. The number of homes on the market increased over 11% from May figures, and a healthy 27.7% from June 2015. Prices cooled slightly, from $602/sqft in May to $591 in June. Historically, June/July heralds the start of a cooling trend that will continue through the end of the year. With school starting soon and summer vacation time rolling to a close, it is not surprising to see a suspended interest in purchasing and selling homes, and I am anticipating this year to be no different.

However, the “summer doldrums” can be great news for buyers who are willing to make a purchase during this timeframe. Fewer buyers looking for homes can translate into more selection and the possibility of motivated sellers who want to complete their sales prior to the start of fall. If you are thinking about purchasing a home, give me a call and let me show you how I can help make the most of the current market!

Almaden Valley real estate market

May 2016 Almaden Valley Real Estate Market Update

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Sellers are coming out in force in the Almaden Valley real estate market. As of Thursday, June 9, there are 65 single family homes listed for sale on the MLS, a number we haven’t seen on our weekly tracking report since 2012!

Sales are up as well. Although the number of sold single family homes is down from last month by about 33% and from April 2015 by about 24%, pending sales is up significantly; over 34% since last month, and a whopping nearly 46% from the same month last year!

We are also seeing prices increasing as well, with a jump from $566/sq.ft. last month to $605/sq.ft. Prices are up from the same time last year, when they were $592/sq.ft.

May 2016 Almaden Valley real estate market

Are You a First Time Home Buyer?

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First time home buyerWith the real estate market recovery on its way, many people who did not have an opportunity to own a home before now are likely to become homeowners in 2015. I frequently meet people in their early 30s who are shopping for their first home and they all face similar learning curves. Here are a few of the most important things first time home buyers need to know to make that all important decision the right one.

  1. Choosing a Location – Location of the property is probably the most important factor to consider while buying a home. In fact, choosing the right location is more important than the general condition of the house since one can always upgrade or remodel later, but the location cannot be changed. In general, single family homes in quiet, serene neighborhoods are more desirable than those on larger streets because of noise and traffic. Homes which offer a view of the hills, a lake, or a golf course hold their value because of the visual appeal as do homes that afford privacy. However, if you have a busy lifestyle, enjoy evenings out or want to save on commute, a townhome or a condo near the downtown areas may be just the thing for you.
  2. School District Matters – Look for a home which is in the neighborhood of good schools. This is important even if you don’t have school going children, since homes in good schools areas are more in demand and have better potential for both selling and renting out in the long run. For school information you can check the local school district website or go to GreatSchools.com. If you’re considering a home in Almaden Valley, take a look at my Almaden Valley Schools page, which has a list of all the schools plus school locator links if you want to know what school is associated with a particular address.
  3. Neighborhood Amenities – Look for a vibrant community with good amenities for the entire family in the vicinity. Shopping, libraries, community centers, sports and recreational clubs, medical care and senior citizen facilities should be ideally within a five mile radius. Access to freeways and other arterial highways is also important; ideally not too close and yet not too far. If you’re considering the Almaden Valley, I offer this comprehensive overview of all of the Almaden Valley neighborhoods.
  4. Neighborhood Crime Rate – This is another aspect to investigate. The local police station will have statistics on crime or go to crimereports.com, enter your zip code and find the relevant information.
  5. Comparing Similar Homes – While choosing a home, ask your agent to do a comparative analysis of at least three similar homes in the neighborhood which have sold recently. This will give you a realistic indication of the market situation and what kind of amenities you can expect to have in a house in that price range.
  6. Independent Home Inspection – It is important to verify all details about the house – i.e. size, age, condition of the structure, from foundation to roof, and all other amenities. Check for potential water concerns – this includes, but is not limited to, wetness in the crawl space/ basement, grading around the house, signs of roof leaks – and pest or termite infestations. All of the above can be verified by having a thorough home inspection independently done.
  7. Permits of Remodeling Jobs – Ask for permits of any remodeling work that’s been done on the house. You can save yourself a lot of headache and expense later on dealing with construction that may be deemed illegal by the county authorities.
  8. Having a Buyer’s Agent – You will also benefit from engaging the right real estate agent who will represent you, the buyer. A buyer’s agent has access to all the properties on the market as well as some not yet on the market. The agent will, first and foremost, safeguard the buyer’s interests. Once you zero in on a desired location, it is best to engage an agent who specializes in that area and can quickly scout out the best home deals.

While touring properties, do not dismiss one because you think the listed price is too high or some features are not up to the standards you desire. Remember, the listed price is only a starting point and it is possible to redo a bathroom, the kitchen or even the yard. Offers can be made after factoring in any potential expenses towards upgrading the home.

I am happy to provide any consultation to both sellers and buyers. Feel free to call me on 408.656.8240, or email me at: tswan@tswan.com. In 2014, I closed $75million in sales and was among the Top 10 agents in Santa Clara County.

February 2015 Almaden Valley Market Update

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The seasonal holiday slowdown we see in Almaden Valley real estate is firmly behind us, and February sales data shows we are on target to hit our usual high time in spring. Sellers are putting homes on the market (albeit in not enough numbers to satisfy buyer demand) and the dramatic increase in pending sales demonstrates that buyers are ready to buy.

Although the number of homes offered for sale is still too low for the demand, they are up when we compare data from the same time last year. However, despite the fact that the number of homes for sale in February 2015 was 12% higher than it was in February 2014, the fact that the number of homes sold during this same time frame increased almost 19% indicates that buyers are eager for more inventory.

The slight drop in average price per square foot that we saw in January more than recovered in February. In December 2014, it was $536/sq.ft., edging downward slightly in January to $525/sq.ft. and rebounding to $541/sq.ft. last month. This is the highest we’ve seen it since September 2014 when the average price per square foot topped $554, a market high for the past several years.

Almaden Valley real estate remains firmly a seller’s market. If you are thinking about selling, give me a call, text or email and let me show you how I can help you get the most for your home!

2-15 graph

October 2014 Market Update

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Almaden Valley real estate continues to strongly favor sellers despite being in the midst of the seasonal slowdown. Although the number of sold single family homes in October 2014 (16) is down significantly from October 2013 (28), the average price per square foot has increased over 9% over the same time period ($507 versus $459.) This price increase indicates that buyers continue to be bullish on Almaden Valley single family homes.

Although many buyers and sellers choose to postpone entering the real estate market during the holidays, now can be the perfect time to market a home. With many sellers pulling their homes from the market this time of year and many more deferring offering their homes for sale, the decreasing competition for buyers can work out to a seller’s advantage. If you are thinking about selling your Almaden Valley home, give me a call or send me an email and let me show you how I can help sell your home!

10-14 market update

September Market Update

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Almaden Valley real estate continued the annual holiday cooling trend in September, although we did see a bit of an upswing in the number of single family homes in pending status (ie had accepted offers.) When we compare September 2014 with September 2013, we see that the number of single family homes for sale and those that have sold have dropped significantly from the same time last year yet the number of homes that are pending has remained virtually the same. This indicates that Almaden Valley real estate is still in demand despite the drop in inventory. The average price has reached a high point of about $550/sq. ft. which merely supports the fact that buyers are still bullish about homes here.

Although many sellers think that the real estate market softens during the holidays, numbers indicate that buyers are actively looking for homes this time of the year. It could actually be in a home seller’s best interest to market their homes NOW, when other home sellers are taking their homes off the market or deferring sales until the holiday season are over. Fewer homes on the market mean less competition for hungry buyers.

If you are thinking about selling your home, give me a call or send me a message and let me show you how I can help you take advantage of this special time of the year!

09-14 market update

August Market Update

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If historic trends are any indication, Almaden Valley real estate is entering the holiday season right on time. Generally speaking, August/September sees the number of homes on the market and under contract drop until they bottom out in around December. In looking at data over the last several years, it looks like we’re right on time.

When studying the market over the last two years, one thing that stands out is that the number of homes on the market has dropped significantly, but the number that have sold has remained fairly stable as the graph demonstrates. The first week of September 2012 saw 59 single family homes for sale in the MLS. The same time in 2013 saw 42 homes, and this week there were 30. 35 single family homes had sold in August 2012, 54 in August 2013 and 39 last month.

Although we are entering the traditionally slower-paced holiday season, buyers are still eager to purchase. Now is an excellent time for sellers to put their homes on the market. Since the trend is for home owners to wait until the post-holiday season upswing to list their homes, those who do so now will face less competition for buyers.

If you would like to know how you can take advantage of the unique nature of Almaden Valley real estate, contact me and let me show you how I can help!

08-14 market update

July Almaden Valley Market Update

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Almaden Valley real estate continues to be a strong seller’s market. The surge in inventory of single family homes that we saw the beginning of June has all but evaporated, although it has increased slightly from last week. We’ve been experiencing a shortage of inventory for the better part of two years, which could explain why there is so much pent-up demand from buyers. Homes continue to sell at a brisk rate; the average days on market for Almaden Valley single family homes was 20 days in July. The average days on market in July 2013 was 23, but in July 2009 it was a 72 days, a stunning difference when compared to our recent market activity!

The average price per square foot withdrew somewhat in July, dropping slightly below levels to $521 from a high of $538 in June. Although we DID see a decrease, the overall trend is upward, and it is common to see months of increase followed by months of slight downward pressure.

07-14 market update

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