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2221 Oakland Road #268, San Jose, CA 95131
Almaden Valley is one of the best-kept secrets in Silicon Valley. Homes range from moderate to high end condos and town homes, and from small single family homes to luxury homes with views or golf course access, all at a fraction of the price of similar homes in Los Gatos, Saratoga, and the Peninsula.
Almaden Valley is minutes from 85 and 87, providing access to all commutes. It is a straight-forward commute on 87 or Almaden Expressway to Downtown San Jose and the new Google and Adobe campuses as well as many other tech and financial companies.
Almaden Valley has plentiful opportunities for outdoor activities, from parks to hiking, to cycling, golf, and more.
Cycling – there are a number of cycling routes that can stretch your legs for short or long courses from casual rides along the trails from Almaden Lake Park to loops through deep Almaden Valley into Morgan Hill and Gilroy, and hill climbs to Los Gatos via Kicks, Shannon, and Kennedy roads, and easy rides along the bike path to Down Town San Jose.
The graph above plots average sale prices and average sales to list price ratio over time. In March, 2018, average sale prices, described in the graph above had climbed 17% year over year. Since then, average Almaden sales figures declined more than 20%, by January, 2019, with sales climbing in recent months. Over-bidding has dropped off to within 2% of list since August.
The histogram above breaks down the sales in Almaden Valley overt he past 6 months into price brackets. In 2017, the peak of the Almaden Valley market was between $1.2M and $1.6M. In mid 2018, that peak had shifted to $1.4M to $1.8M. Now the peak is wider, ranging from $1,200,000 to $1,800,000.
The second rule of real estate after Location: Timing. Buyers and Sellers need to understand the time trends in the market.
Sellers need to be aware of how long it might take to sell their home. Many variables affect this time, not the least of which is list price. For the buyers, it is important to understand how fast you have to move – not just in responding to a home you like, but in how frequently you need to check the market and how quickly you need to make arrangements to view the home.
In 2018, average time on market was 2 to 2.6 weeks and the luxury market down to an average listing duration of 2 months. Now, most price ranges sell within 5-6 weeks with the high end curiously averaging much less. Noting the corresponding higher=than-list offers diagrammed below, this shows an increased market in Almaden for luxury level homes.
Understanding Price is imperative both form the Seller’s and Buyer’s perspectives.
For the seller, pricing too high can be disastrous. Buyers will focus their attention on lower-priced listings first. So can pricing so low that buyers wonder what is wrong with the property.
Here we see that on average, across all price ranges, homes sell within about 2% of list, with the bulk of the market selling just below list. This is a good, stable trend that permits sellers and buyers to deal with each other fairly.
The accuracy of the information displayed in this site is not guaranteed. The user is advised to conduct their own investigations to validate any information on which purchase or sale decisions are made. Data from the Multiple Listings Service subject to applicable limits on accuracy and content.
Original content ©2018 Brady and Son Realty Team @ KW Silicon City . Referenced images and data subject to originator copyrights.