August 2018 Almaden Valley Real Estate Market Update… August was a busy month for buyers of single family homes in Almaden Valley. The number of homes under contract shot up a dramatic 89% from July, while the number of homes on the market dropped 25% during the same timeframe. We saw one of the highest numbers of homes on the market in July, and buyers responded enthusiastically.
We DID see the average price per square foot retract somewhat from July to August, from $713 to $697, but this could easily be a function of the fact that so much inventory came on the market at one time that buyers had more control than we’ve seen.
Traditionally, September is usually the starting month for the holiday cooling trend. After the excitement of the July/August bulge, it will be interesting to see what autumn brings.
If you have any questions about recent market trends or would like to get into the market, give me a call!