Therese Swan

This week’s Almaden Valley real estate market numbers are virtually unchanged from last week. The total number of available properties on the market dropped from 65 last week to 64 this week, while the percentage under contract dropped slightly, from 38% to 37%. Traditional (ie non-distressed) properties remained unchanged, with 54 available properties and 30% under contract. As we enter the last month of the year, it is likely that this trend will continue through December as we pass through our traditional, anticipated holiday market cooling period.

Happy Thanksgiving!

The number of listings on the market in Almaden Valley dropped from 72 last Monday to 65 this Monday, while listings under contract increased from 34% to 38% during the same time frame. Traditional (ie non-distressed) listings dropped from 63 to 57 and the percentage under contract increased from 28% to 30% from last Monday. The decrease in homes on the market are entirely in line with the seasonal market cooling trends we see this time of year as owners choose to keep their homes off the market for the holidays. However, with interest rates so low, buyer interest may not cool down as much as they take advantage of the lower rates.

The Almaden Valley real estate market continued to decrease slightly in what is most likely the normal seasonal slow-down we see every year at this time. The total number of single family homes for sale decreased from 74 last week to 72 this week, while the percentage of properties under contract dropped from 35% to 34% over the same time. Traditional (ie non-distressed) homes experienced the same trend, from 65 single family home for sale last Monday to 63 today, and the percentage under contract dropping from 29% to 28% over the same time. The interest rates offered by some banks dropped slightly. Although buyers are still being lured by the historically low interest rates, it remains to be seen if the rates will motivate buyers to act during the holiday season when we usually see a slowdown in sales.

The number of active listings in Almaden Valley increased slightly from last week, from 76 to 80 this week. The percentage of listings that are in escrow decreased slightly, from 38% to 35%. Traditional (ie non-distressed) listings experienced a similar change, from 67 to 71 active listings and from 31% in escrow to 30% this week. This could very likely be the early stages of the annual slow-down we see around the holidays.

Interest rates remain fairly much at the same level as last week.

The number of single family properties in Almaden Valley that are on the market crept up slightly, from 74 last Monday to 76 today. However, the number of pending escrows also increased, from 37% last week to 38% this week. Traditional (ie non-distressed) properties experienced similar changes, with the number of properties on the market increasing from 66 to 67 and the percentage of pending escrows increasing from 31% to 32%. Although the number of active listings increased, the percentage of pending escrows has pretty much recovered from the dip we saw last week.

Interest rates are remaining stable, though some banks posted a slight increase. Even so, rates are so low that buyers who are contemplating purchasing are being lured into acting by the historically low interest.