Almaden Valley Market Analysis for January 2009

The Almaden Valley real estate market is complex – “how it is” very much depends on the price point, school district (there are several in Almaden) and neighborhood.  The broad overview and the micro-view of this San Jose area are both helpful to buyers and sellers. Today we’ll do a little of each. (Graphs courtesy of two subscriptions I have: one is the REReport and the other is Altos Research. Both used by permission.)

First let’s see how Almaden Valley homes for sale fared in recent months, in 2008 and in recent years. Then we’ll have a look at the current situation. Here are a couple of graphs that make clear the condo market in this part of Silicon Valley:

 

An overview of the townhome and condo market in Almaden Valley in recent years.

 

Inventory has been rising in recent months, and sales have been declining fairly steadily in recent years.  If you have friends who sell homes or home loans and work the Almaden or Silicon Valley market, you already know that things have been worsening for quite awhile.

Now let’s look at the single family home market; first is the the days of inventory over the last 18 months or so and then the number of sales in Almaden over the last few years.

 

Almaden-Valley-SFH-closed-sales-reported-jan-09

The patterns among single family homes in Almaden are even more clear in terms of the numbers of sales: it’s a straight decline.  Time on the market has fluctuated a little but the overall movement has been for longer time to sell a home.

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