Spotlight on Almaden Valley

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There were 19 closed sales in February in Almaden Valley. The number of active homes is 77, with pending sales at 23 in the last 30 days.

The number of listings in Almaden has really escalated – up a whopping 36% over last month. We need to remember the listings are down 30% over last year. I had a home on the market last year at this time and without most jumbo loan products it was a huge problem for this affluent area of San Jose. Another plus is closed sales are up 90% over last year.

This increase in listings is something that will need to be watched. I am seeing this fast rise in homes for sale in Los Gatos as well yet the Cambrian and Campbell area are pretty even compared to last month.

The price range of available homes is from $575,000-$2,795,000. The median price is $1,049,000. The price range of pending sales is $619,500- $1,525,000.

While single family homes make up the bulk of the inventory, there are 5 active townhomes/condos, 5 pending in the last 30 days and 0 closed in February.

Santa Clara County weighs in —

As of March 1st, in the Santa Clara County the inventory for active listings of single family homes was 2091 and condo/townhomes is 879. Totaling 2970 for both. The number of listings dropped around 47% from last year at this time!

The number of homes and townhome/condos that went into contract over the last 30 days was 1731 (single family – 1218, condo/townhome – 513). This figure is up about 28% over last year.

The number of closed sales in February was 803. This is up 7% over last year at this time.

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