Buyers Snapping Up Almaden Homes at a Brisk Pace
The number of available single family homes in Almaden Valley dropped slightly, from 42 last week to 41 this Monday. On the other hand, the number of listings that are under contract jumped from 43 to 49 over the same time period.
In the past five days alone, eight homes came on the market in Almaden Valley. The fact is, buyers are snapping up homes at a very brisk pace. Although the graph below might indicate that sales have dropped from February 2012 to February 2013, this is likely in large part a function of the dearth of inventory we’ve been experiencing. When we look at the total number for sale versus those that are pending, we see that the percentage of listings under contract a year ago was approximately 37%, while last month it was almost 40%. The average sale price also edged up during that same time frame.
With the recent good news about the economic upturn (along with those historically low mortgage rates), it is quite likely that even more buyers will be emboldened to enter the market and create even more demand for our rising inventory. This is especially good news for sellers, who stand to gain from any heightening of our already keen market interest. If you want to take advantage of this strong seller’s market, give me a call and let me know how I can help!
The latest monthly data is in for Almaden Valley real estate, and it demonstrates what I’ve been conveying: the number of available single family homes is dropping as predicted for the holiday season, but buyers are expressing uncharacteristic interest in the market.
The seasonal slowdown in inventory that the Almaden Valley real estate market has been experiencing these last few weeks is pretty much continuing on schedule. The number of available single family homes increased from 47 last week to 48 this week, while the percentage of listings in escrow dropped from 52% to 51% over the same time frame.
This past week saw an increase in the number of single family homes on the Almaden Valley real estate market; from 59 last week to 65 this week.
