Almaden Valley Ca, Real Estate

Mar 10th

Posted by in Real Estate

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Almaden Valley Hike

Almaden Valley, a neighborhood of about 37,000 within the city of San Jose in northern California, has seen mixed results in its real estate market in the last few months. The community, like so many others in the vicinity, saw a steep drop in prices after the recession took hold across America.

In January 2010, there were 46 Almaden Valley homes for sale, a sign that the market is improving and inventory clearing out, as there were 74 homes for sale in the same period one year earlier. Of the homes for sale in January 2010, 40% were in escrow, 23% were short sales and 10% were bank-owned homes.

During the same period, there were just two condos listed for sale on the Almaden Valley real estate market in January 2010, compared with nine in 2009. Both of these listings were conventional condo sales, neither bank-owned or short sales.

But taking a look at the greater city of San Jose, we can still see signs for caution. According to the city’s newspaper, the Mercury News, foreclosures in the county were on the rise in January, rising 37%. Additionally, homes that have been foreclosed upon in Santa Clara County – in which Almaden Valley and San Jose lie – are spending an average of 221 days on the market versus just 143 in August 2008. In January, there were 4,850 homes scheduled to be foreclosed upon in the county.

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San Bruno Real Estate Update 2009

Nov 21st

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Seal of San Mateo County, California
Image via Wikipedia

A upper-mid-level market near the coast of California, real estate in San Bruno, like in many cities across the Golden state, continues to struggle, reaching for a bottom to bounce back from. Prices and values are down, as is sales volume in contrast to many cities’ markets, which have been assisted by the government incentive program to offer tax rebates to homebuyers.

According to San Mateo County statistics from Alain Pinel Realtors in nearby Menlo Park, October statistics showed little to no relief from the San Bruno real estate market. The city saw its median and average prices both down during the month from the same time last year. The median price for single-family homes stood at $490,000, down 8.4% from October 2008, while the average price was at just under $515,000, down 3.6% from the same time last year.

Meanwhile, sales in San Bruno have slipped as well. October of this year accounted for just 16 sales, down by 23.8% from activity of last year and unchanged from sales volume in September. There were 31 current homes for sale in San Bruno and it remains to be seen whether the government’s extension of the tax credit to homebuyers will be an incentive to help lure more buyers back to the San Bruno market.

Additionally, the condo market has been faring no better. The median price for a condo in October was $210,000, down 26.3% from last year’s price, though up 7.7% from September’s figures. Condos’ average price, at just over $201,000, is down 28.7% from last year and down 1.5% from September. Condo sales, too, are down, with just seven sales during October, down 30% from volume during October of 2008.

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