July 2018 Almaden Valley Real Estate Market Update… The Almaden Valley real estate market is entering the end of summer cooling phase. July saw a dramatic jump in the number of single family homes offered on the market; up to 43 from 26 in May and June. We haven’t seen this amount of inventory since late summer/fall 2016. The numbers of homes under contract and sold have dropped from June, which is not unusual for the summer months.
The average price per square foot dropped to $713 from $757 in June, which is also not unexpected given the time of year.
Evaluating sales data during this pivotal time of year can be difficult. The market will likely pick up the pace again after buyers return from their summer vacations. But the rapid increase in homes on the market could be an early sign that the market will shift slightly in favor of buyers.
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!