The number of homes on the market in Almaden Valley increased slightly, from 58 last Monday to 61 this Monday. The percentage of homes under contract decreased from 50% to 46% over the same time frame. The number of distressed properties (auction, bank owned and foreclosures) decreased slightly. Overall however, things have remained fairly much the same. This time last year, there were around 100 homes on the market with around 40% under contract. This shows that buyer interest is there but the sellers simply aren’t putting their homes on the market.
Although buyers appear eager to take advantage of the historically low mortgage rates, they are finding a fairly small selection of homes to choose from. This can be a great advantage to sellers. If you’d like to learn more how you can take advantage of this market as a buyer and/or seller, give me a call and let’s talk!