Tag Archive for: Almaden Valley Market Update

Data for September 2017 Almaden Valley Real Estate Market indicates that we are well into the annual holiday cooling cycle. The number of single family homes offered for sale, under contract, and sold have all dropped from August to September, which is quite normal for this time of year. When we compare last month to the same time last year, we see a rather dramatic difference in these categories. For last month, we saw 23 single family homes for sale, 20 under contract, and 25 sold. In September 2016, these numbers were 44, 27 and 35 respectively. This disparity is quite likely due to the fact that inventory in 2017 has barely met demand. In fact, when we look at the average price per square foot, the $628 we saw this past month is significantly higher than the $575 we saw September 2016, which is a pretty clear indication that buyer activity has been strong.

The price per square foot did drop from August’s high of $667, but we anticipate pricing to cool this time of year as well. Generally speaking, the holidays are usually a good time to buy, as many buyers drop out of the market until the new year, prices drop, and sellers can become more eager to make a sale before the end of the year. This year, though, it seems like buyers may not see quite the decrease in competition that they usually experience. Good deals can still be had, but data indicates that buyer interest is still keen despite the upcoming holidays.

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!

June 2017 Almaden Valley real estate market update… As summer temperatures rise, the Almaden Valley single home real estate market cools a bit in a seasonal pattern we observe pretty much every year. Kids are out of school, summer vacations are planned and the sale and purchase of homes seems to be the farthest thing from many people’s minds. It would not surprise me in the least to see the market taking a summer nap until fall approaches.

Meantime, if you’ve been thinking about selling your home and wonder what it might be worth on the market these days, take a look at our proprietary easy-to-use home valuation tool ChalkBug and then give me a call!

April 2017 Almaden Valley real estate market update… April continued the spring upswing for Almaden Valley real estate. With the exception of the number of listings under contract, market data for single family homes was up from March. When we examine the graph below, two things stand out. One is that inventory is reaching a point where it cannot keep up with demand, and each of the past three months have ended with buyer activity almost outpacing sellers. When we note that the number of pending listings dropped from March to April, we get an indication that buyers are purchasing homes faster than sellers are putting them on the market.

Another point we notice is that although the same general pattern of pending and sold homes for the last few months is a repeat of the same time last year, the total numbers this year are much lower. Homes for sale, those in escrow and solds are down noticeably. However, average price per square foot is at a level we haven’t seen for quite a while. At $616/sqft, it is almost 9% higher than in April 2016. What we are seeing is a strong shift towards a seller’s market being fueled by tight inventory.

We are in the midst of a seasonal pattern of increased market interest this time of year, but a severely limited inventory of homes is frustrating buyers. The price per square foot increase indicates buyers are keen to buy. If you are thinking about selling, now may be the time. Give me a call or send me a message and let me show how I can help you make the most of our active market.