Tag Archive for: Almaden Valley Market Update

October 2016 Almaden Valley real estate market update… Almaden Valley real estate ended October on a high note. Although the number of available single family homes was down from the same time last year, the number of homes that were under contract or that sold were up. Last month, 25 homes sold, up from 18 in October 2015 while the number of pending homes was 29 and 24 respectively.

Looking at the month-to-month performance, the market was much calmer, though this is to be expected as the market coasts through the holiday cooling cycle that we experience every year. The number of homes offered for sale dropped from 44 in September to 32 in October, while the number that sold dropped from 35 to 25 in the same time period.

Price per square foot retracted from $575 in September to $548 in October. This, too, is not uncommon during the holiday season, as price responds to supply and demand. Since the market is cooling for the holidays, seeing prices reduce is not unexpected.

When we compare price per square foot in October 2016 to October 2015, we can get a firm idea of how the Almaden Valley real estate market has transitioned by one controlled by sellers to one controlled by buyers. In October 2015, the price per square foot was $593. Prior to 2016, buyers were competing for a much smaller pool of available homes. This competition drove home prices up. 2016 could be seen as the year sellers decided to step forward, and inventory has exceeded what we’ve been seeing for many years. Buyers are no longer pressured to bid up prices in order to capture a home, and prices have retracted to reflect the increased inventory.

If you are thinking about purchasing a home in Almaden Valley, contact me and let me show you how I can help make your dream home a reality.

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!

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!

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.