Tag Archive for: Almaden Valley Market Update

January 2020 Almaden Valley real estate sales figures for single family homes indicates that 2020 is off to a very good start. The number of homes for sale crept up from 14 in December to 17 in January, while the number of homes under contract practically exploded from 15 to 23 in the same time frame. The number of sales dropped from 25 to 15, but when the dramatic increase in pendings is taken into consideration, it appears that this is nothing more than a lag due to the holidays. When compared to January 2019, the numbers look even better. Not only were the number of homes on the market and pending higher this year than last, but the number of sales was higher as well.

If you’re thinking of getting into the market, give me a call and let’s talk!

November 2019 Almaden Valley Real Estate Market Update – The holiday season is firming up to be a good one for Almaden Valley real estate. We usually see activity decrease the last few months of the year, and although this pattern is repeating as expected when compared to previous months in the year, the number of homes that were under contract and sold are higher than they were the same time in 2018. The number of single family homes offered on MLS dropped dramatically from October to November, which is to be expected. However, the number of homes for sale last month was a rather dramatic 30% lower than the same month last year (21 versus 30.) The number of homes that sold increased over 9% from the same time last year (24 versus 22) but the number of homes that went under contract increased a whopping 40% (21 versus 15.) Even the average price per square foot experienced a healthy 6% jump from not only the same time last year, but also from last month ($691 for 11/19 versus $647 for 11/18 and $652 for 10/19.)

In short, Almaden Valley real estate was quite spirited last month. Whether or not this is an indication that the market may be swinging a bit away from favoring buyers as it has been for awhile to favoring sellers remains to be seen, but with the average sale price still below the $703/sqft high we saw in September 2018, there is still room for buyers to find bargains, and for sellers to find eager buyers. If you are thinking about buying or selling in this exciting market, contact me and let me show how I can help you get the best deal.

Things have slowed down a bit.

Almaden Valley residential real estate continues to show transition to a buyer’s market. The number of active single family home listings increased almost 24% from April 2019 and a whopping almost 81% from the same time last year. Meanwhile, the number of homes that closed sale during May 2019 decreased by over 34% since April and over 45% since the same time last year. The average price per square foot retracted about 4% from April and a bit over 7% since the same time last year.

Overall, indicators would seem to show that the Almaden Valley real estate market has cooled from its relatively long run of growth. From my personal experience, homes that are staged well and competitively priced are still selling quickly. Agents need to be pro-active; marketing has become vital.

If you are thinking about selling your home, contact me and let me show how I can make your home stand out in our changing market. Additionally, Compass can front the money for upgrades until close of escrow with no interest.

January 2019 Almaden Valley Real Estate Market Update… Almaden Valley single family home sales are coming out of the sleepy holiday season as January statistics show. The number of homes on the market increased slightly from 14 in December to 15 in January, but the number of homes under contract jumped over 33%, from 9 to 12 over the same time period.

When comparing longer-range trends, it would appear that the red-hot nature of the real estate market has cooled a bit compared to our dramatic performance in 2018. Despite more homes offered for sale, the number of homes under contract in January of this year dropped almost 30% from the same time last year (17 versus 12) and the number of solds over 13% (15 versus 13).

It appears that the Almaden Valley single home market is transitioning from being controlled by sellers to a more balanced market. The drop in price per square footage that we saw in January (down from $681 in December to $642 and down from $672 in January 2018) bears this out.

Homes are remaining on the market for longer as well. We saw a rather dramatic jump in days on market in December (31 days) to January (51 days). Contrasting last month to the same time in 2018, we see an even more dramatic jump from 20 days.

What does this mean for home sellers in Almaden Valley? Selling a home may take longer and prices are quite possibly not going to go as high as last year’s record high ($757/sq ft in June 2018), so try to catch the spring market if at all possible. There was a lot of rain in February, but as soon as the sun comes out, I am sure we will see dramatic improvement. If you have any questions or are ready to make a move, give me a call!

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!