This is a May 2016 real estate market activity report for Almaden Valley in San Jose, CA. This report is comprised of data extracted from our local Multiple Listing Service (“MLS”) as of June 1, 2016.
Single Family Homes Market Report May 2016
- 64 Active Single Family Homes
- 54 Pending Sales (Under Contract)
- 29 Sold Homes
- Average List Price: $1,327,082
- Average Sales Price: $1,357,996
- Average Sales Price to List Price: 103.0%
- Average Days on Market: 29
- Absorption Rate: 2.2 months of inventory which equates to a Seller’s market
Condos and Townhouses Market Report May 2016
- 4 Active Condos and Townhouses
- 6 Pending Sales (Under Contract)
- 6 Sold Condos and Townhouses
- Average List Price: $895,167
- Average Sales Price: $933,833
- Average Sales Price to List Price: 104.7%
- Average Days on Market: 9
- Absorption Rate: 0.67 months of inventory which equates to an extreme Seller’s market
Market reports can be boring and/or confusing to many people. As a professional serving the Almaden Valley real estate market it is imperative that I not only track the market but understand and interpret the data as well. It is important to keep in mind that the data only tells part of the story. Only a real estate professional with first-hand knowledge of the local market can connect the dots and complete the story. Knowledge such as current market conditions, physical location of homes, condition, and recent renovations completed, or not completed.
Supply and Demand: Low inventory and high buyer demand will drive prices up. Market value is primarily derived from recent comparable properties sold. Buyers determine value. A home is worth what a buyer is ready, willing and able to pay for a home. As a listing professional who utilizes a value based approach to listing a home for sale, sellers are served best when the list price is at or slightly below market value.
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.
The only way to accurately determine the current market value of a Almaden Valley home is for a market specialist to physically see and walk the interior and exterior of the home and ask many questions designed to determine what may be hidden value in the home.
The value based approach means we do not utilize Automated Market Valuation (“AVM”) of homes. AVM’s are good for Homeowners who are looking for a general idea of what their home is worth and have no plans on selling. Homeowner’s who absolutely need to sell their home want a professional valuation for a current and accurate home value.
Value Based Approach To Selling Almaden Valley Homes
The value based approach in working with Buyers means Buyers must be well-qualified, pre- approved for a mortgage loan or have sufficient funds for an all cash purchase, and ready to make the home purchase. In a hot sellers’ market buyers need to be prepared to write winning offers.
Whether you are looking to sell a Almaden Valley home or buy 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 may be reached at my office at 1.408.972.1822.Tags: Almaden Valley, real estate market, sale price to list price ratios, San Jose