October 2018 Almaden Valley Real Estate Market Update

October 2018 Almaden Valley Real Estate Market Update… Almaden Valley real estate is firmly in the grips of the seasonal slowdown. The number of single family homes on the market in October was down to 35 from 39 in September and the number that sold dropped to 22 from 24 over the same time period, indicating that both buyers and sellers are showing less interest as we approach the holiday season.  The average price per square foot drop to $659 from $723 the previous month bears out this observation.

When comparing this past month to the same time last year, we see a bit less activity. The number of single family homes on the market is up over 59% from October 2017. I’ve been mentioning in other market reports that sellers have been more active this year, and this number demonstrates that. Sales, however, have cooled slightly: 26 single family homes sold in 2017 versus 22 last month.  However, the average price per square foot was $619 in October 2017 versus $659 this past month, which may explain why sales were a bit more brisk in comparison.

Overall, the holiday season tends to be a good time for buyers as inventory is good and competition is not nearly as keen as it is other times of the year. If you are thinking about buying a home, drop an email, text or call and let me show you how YOU can take advantage of the holiday market!

October 2018 Almaden Valley Real Estate Market

September 2018 Almaden Valley Real Estate Market Update

September 2018 Almaden Valley Real Estate Market Update… September wrapped up on a quiet note in preparation for the upcoming holiday season. The number of single family homes on the market jumped from 33 in August to 39 in September, while the number of homes under contract dropped from 33 to 19 and the number sold remained 24 over the same time period. The drop in pending sales is very likely due to a buying frenzy that happened in August, perhaps buyers trying to beat the next interest rate hike. The average sold price per square foot edged up from $697 in August to $723 in September, indicating that buyers are still keen on Almaden Valley real estate and sellers are responding to the near-record average sale price per sqft by offering their homes to the market.

Observing the trends over the last year and more, it appears that our real estate market is luring home owners to sell and inventory is gradually increasing above the critical levels we’ve gotten used to. Generally speaking, as inventory increases in a seller’s market such as we’ve been experiencing, the balance reaches a point of equilibrium between the number of buyers and the number of homes on the market.  Overall, though, we are seeing the seasonal transition to a quieter real estate market.

If you’d like more information about current market trends or are thinking about buying or selling a home in the Almaden Valley, call, text or send me an email and I’ll be glad to help you out!

September 2018 Almaden Valley Real Estate Market

August 2018 Almaden Valley Real Estate Market Update

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!

August 2018 Almaden Valley Real Estate Market

July 2018 Almaden Valley Real Estate Market Update

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!

July 2018 Almaden Valley Real Estate Market

June 2018 Almaden Valley Real Estate Market Update

June 2018 Almaden Valley Real Estate Market Update… Although June’s listing, pending and sold data for single family home sales in Almaden Valley is for the most part the “same old, same old” story of short supply and hot demand, we DID reach a milestone for the average price per square foot of $757. According to MLS data, this is the highest it has been in over ten years. Although prices have been gradually increasing since 2012, quarterly trends show robust gains since the end of 2017.

In evaluating the market over the last year, we saw inventory slightly up from June 2017 but remaining unchanged from May to June 2018. The number of pending and sold single family homes is lower in June compared to May of this year. To see why we saw this drop happen, all we need to do is step back to April when we saw a sudden influx of new single family home listings. Combined with the increase in price per square foot, it is probably safe to say that buyers responded heartily to the increased inventory from April which drove the pending and sold numbers up in May.

Any way one looks at it, we are in a distinctly seller-driven market. Summer is traditionally one of the most active times of the year for Almaden Valley real estate, and we have another month or so before the traditional seasonal slowdown starts. If you are thinking about selling your home, contact me and let me show you how you can make the most out of the summer hot market!

June 2018 Almaden Valley Real Estate Market

May 2018 Almaden Valley Real Estate Market Update

May 2018 Almaden Valley Real Estate Market Update… Tight inventory continues to dominate the Almaden Valley single family residential real estate market. The number of sales has been keeping up and often exceeding the number of single family homes on the market for quite a while, creating a shortage of homes. When we compare May 2018 with May 2017, we see that although the number of homes for sale and those under contract are unchanged, the number of sold homes is up over 15%, meaning competition is even keener for available inventory.

This shortage is reflected in the average price per square foot, which has reached a high point of $713, up dramatically from the $668 we saw in April.

If past trends are any indication, things should start cooling down in the next 30 days or so as we slide into autumn and the seasonal slowing we tend to see this time of year. However, given the tight inventory and robust demand, we’ll just have to see.

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!

May 2018 Almaden Valley real estate market

April 2018 Almaden Valley Real Estate Market Update

April 2018 Almaden Valley real estate market statistics indicate we are entering the summer peak season. The number of single family homes on the market increased almost 61% from March to April, and sales increased by 56% during the same time period. Although the price per square foot dropped about 3.5% from March to April, this is also a trend we tend to see as we enter summer.

Homes for sale in April 2018: 37 units

  • Up 60.9% compared to last month
  • Up 8.8% compared to last year

Homes closed in April 2018: 39 units

  • Up 56% compared to last month
  • Up 5.4% compared to last year

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!

April 2018 Almaden Valley Real Estate Market

Spring Is In The Air – Prepare Your Home! (Part 2)

prepare your homeSprucing up for Spring – from Hardscapes to Roof

Spring is almost here, and it’s time to prepare your home! In this, the second in our series on home and yard maintenance for spring, we focus on everything from hardscapes to the roof. Here’s the checklist of do’s for this season:

Repair and refurbish hardscapes – After the rains, it is a great idea to clean all hardscapes – walkways, patios, steps and retaining walls which have brick, pavers, stone or tile. Pressure wash to remove any dirt or moss which might make the area slippery. Replace broken tiles or flagstones and fill in new sand in the joints.

Roof check – Check for and replace any broken tiles or shingles in the roof. If there are signs of moss or lichen, call a professional roofer for a clean-up.

Trim large trees – Trim away any overgrowth from trees and shrubs. If you have large trees like oak or redwood, get an arborist, if needed, to trim back branches. This will allow more sunlight into the yard and encourage new growth. It’s also important to keep tree branches at least six to seven feet away from the house.

Foundation vents – Walk around the perimeter of the house and check all foundation vents to ensure that they are clear of leaves, debris or anything that would prevent air circulation in the crawl space. Good air circulation is important for the moisture in the crawl space to dry. Repair any holes or rips in vent screens to prevent rodents and critters from getting in.

Drains, ditches, rafters and gutters – Sweep clean all leaves and debris which may have gathered in drains, ditches and gutters. If possible, connect gutter pipes to the sewage. This will take overflow water away from the foundation of the house. Check rafters for wood rot. Replace any broken ones. It’s also a good idea to give the rafters a coat of paint to prevent wood rot.

Check irrigation systems – With the onset of spring, it is time to check irrigation systems for leaks and repair any broken sprinkler heads. Check rain sensors and booster pump for proper operation. Secure drip irrigation lines properly to respective plants.

Fences and trellises – Check fences and trellises and replace any broken or rotten panels.

Bird baths and fountains – Check fountain pumps and fix leaks if any. Scrub clean bird baths and fill with fresh water.

January 2018 Almaden Valley Real Estate Market Update

January 2018 Almaden Valley Real Estate Market Update… January’s data for Almaden Valley real estate is showing the effects of tight inventory. The number of single family homes on the market in January remained virtually unchanged from the previous month: 10 versus 9. The number of sales dropped during the same time period, from 22 in December to 15 in January. This drop is a direct effect of the incredibly low inventory of single family homes that we’ve been experiencing. The price per square foot edged up from $671 to $672, a further indication that the usual cooling of interest we see during the holiday season didn’t really happen this year.

Buyers are clamoring for Almaden Valley homes, as is evidenced by the fact that area homes often experience multiple offers within a short time of being put on the market. It is an excellent time to be a seller in Almaden Valley. For more information on how you can take advantage of our hot market, call, text or email me.

January 2018 almaden valley real estate market

Spring Is In The Air – Prepare Your Yard! (Part 1)

prepare your yardSpring Gardening

It is not officially spring yet, but with winter on the wane and the days getting warmer, it certainly feels like spring is in the air… and this is the perfect time to prepare your yard! With a little bit of work now, you will have a bountiful spring and summer garden, rich in vibrant colors with plenty to harvest.

There are four main tasks which are recommended for your garden this month.

Pruning and fertilizing

Late winter and early spring is the best time to prune fruit trees. If you haven’t already done it, now is the time. Pruning before the buds bloom will relieve the plants resulting in better growth and a better crop later on. Fertilize fruit trees with an organic fertilizer or compost for better quality yield.

Prune evergreen trees and shrubs leaving out branches in the direction you want to encourage growth. Rose plants and bushes should be pruned before they start budding. For spring flowering plants, wait until after blooming. Fertilize the rose plants at this stage. Fertilize garden beds at the top soil level and let the nutrients percolate down.

Planting

Now is the perfect time to plant fruit trees, perennial crops like berries and spring crops like beets, carrots, peas, spinach, leeks and lettuces. Bare fruit trees root in the winter and begin sprouting leaves and branches through spring summer.

Weeding

Control weeds in the garden while they are young. You can also use a weed preventing product like Preen.

Lawn care

Lawns should be watered deeply once or twice a week at this time, depending on the amount of rain. Avoid overwatering. Spread lawn seeds on bare patches and fertilize.

For more garden maintenance tips, visit:

http://eartheasy.com/grow_garden_early_spring.html

https://www.almanac.com/gardening/tips/CA/San%20Jose/02