The real estate market is crazy-hot for sellers and presenting “real” challenges for buyers as they compete in bidding wars for homes . Some San Jose markets are hotter than others yet the entire San Jose and Silicon Valley real estate market continues to see high demand coupled with vanishing numbers of homes for sale.
Let’s see how the June market measured up in the Summer heat!
This is the June 2017 Home Value and Market Activity Report for Almaden Valley. Almaden Valley, also known as Almaden, is home to the prestigious 95120 zip code and top rated schools in San Jose, CA. This report is comprised of data from June 1, 2017 through June 30, 2017 extracted from our local Multiple Listing Service (“MLS”) as of July 1, 2017.
June 2017 Single Family Homes Market Activity Report
- 22 Active Single Family Homes. A increase from 20 homes the previous month.
- 37 Pending Sales (Under Contract). A decrease from 54 homes the previous month.
- 37 Sold Homes. Compared to 38 homes the previous month.
- Average List Price: $1,630,916
- Average Sale Price: $1,632,697
- Average Sale Price to List Price: 100.9%
- Average Days on Market: 20
- Absorption Rate: 0.6 months of inventory which equates to a extreme Seller’s market. Inventory of homes continues to shrink.
- Read more about absorption rate and how it may impact the sale of a home
A word of caution about statistical averages: The average list price and sold price is representative of the range of prices. Average prices are calculated by adding the total values of all homes and dividing that number by the number of homes listed and sold.
- $3,000,000 was the highest price home sold in Almaden in June 2017. This was an all cash sale that closed in 10 days!
- $1,150,000 was the lowest price home sold in Almaden in June 2017.
Almaden Valley Homes for Sale Under $1,000,000
Almaden Valley Homes for Sale $1,000,000 to $2,000,000
Almaden Valley Homes for Sale $2,000,000 to $3,000,000
Almaden Valley Homes for Sale $3,000,000 and above
Condos and Townhouses Market Activity Report June 2017
Condo living is lifestyle living. Buyers are advised to make informed buying decisions by knowing the rules and restrictions of a condo association before deciding to buy a condo. Some associations are more restrictive than others. Knowing what homeowners can and cannot do is essential before deciding to purchase a condominium.
- 6 Active Condos and Townhouses. An increase from 5 the previous month.
- 8 Pending Sales (Under Contract). An increase from 6 the previous month.
- 1 bank owned
- 6 Condos and Townhouses Sold. No change from the previous month.
- Average List Price: $911,481
- Average Sale Price: $942,172
- Average Sale Price to List Price: 103.2%
- Average Days on Market: 16
- Absorption Rate: 1.0 months of inventory which equates to a extreme Seller’s market
- $1,511,000 was the highest price condo sold
- $780,000 was the lowest price condo sold
Value Based Approach To Listing Almaden Valley Homes for Sale
When listing a San Jose home for Sale in Almaden Valley it is important to carefully analyze market trends and recent statistical data. Analysis and good use of data means the property will be positioned well for marketing designed to bring top dollar for the home. There are so many factors to pricing a home right.
The value based approach means we do not utilize Automated Valuation Model (“AVM”) of homes. The location, condition, schools, and many other factors will impact the value of a home or condo. Homeowners who need to sell their home want a professional valuation for a current and accurate home value.
If you are looking to sell a Almaden Valley home the process starts with a conversation to discuss your specific needs, wants, wishes and desires. When you are ready to get started, give me a call. I will share my documented approach to listing and selling homes. I may be reached at my office at 408.972.1822.