The seasonal slowdown in inventory that the Almaden Valley real estate market has been experiencing these last few weeks is pretty much continuing on schedule. The number of available single family homes increased from 47 last week to 48 this week, while the percentage of listings in escrow dropped from 52% to 51% over the same time frame. In effect, there has been very little change this past week. The number of distressed (auction, bank owned and pre-foreclosure) properties in Almaden Valley is decreasing as well, which is good news (especially for sellers) since they have tendency to put a damper on overall prices.
Although both sellers AND buyers tend to slow down for the holiday season, buyers are still out shopping. For buyers, fewer folks looking to buy translates into a bit of easing in competition for a shrinking number of homes. Sellers may find this a perfect time to put their homes on the market, as serious buyers may be keen on taking advantage of historically low mortgage rates nd making purchases before the holiday season ends and more people enter the market to buy.
Give me a call and let me explain how I can help sell your home in this unique market!