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Almaden Valley Real Estate Trends

Almaden Valley of San Jose, CA follows a traditional spring-to-fall sales cycle with the peak number of sales in early summer.  Closed sales typically peak in May or June with about 38-40 homes in this peak month. This cycle is driven by the first day of school starting mid-August. 

Have higher 6% interest rates affected this cycle? Read on and find out. Stay in touch with our monthly market updates by signing up for our newsletter! Or contact us if you'd like to discuss more specifics about the market in your area.

Considering selling in 6-12 months? Learn more about fees, taxes, what to update and more at our local Almaden in-person seller seminar.

Let’s plan the home prep now to get highest possible price when you are ready to sell! I offer a free 60 minute home selling consultation, read more

This market statistics data is updated weekly. What is your property worth?  

See full interactive charts or Scroll down for a historical perspective of the Almaden Valley Real Estate trends. 

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Almaden Valley Market Statistics - Closed through March 2024

Below is a chart comparing the numbers of homes for sale (yellow line) in Almaden Valley with the previous month's sales (green bar) and closed sale prices. Keep in mind the prices lag by 30 days since a typical escrow is 30 days long.  

Where are current Almaden Valley real estate prices?

The median closed price for Almaden homes for sale in March 2024 was $2,205,750. The average price in this same month was $2,370,700. Almaden Valley Homes for sale closed in this month sold above list price with the average sales price to list price ratio of 105.9% of the asking price. Compared to Almaden Valley prices 3 years ago (during pandemic), the market today is up 15.2% (March 2021 median, $1,915,000). Shop homes for sale in Almaden Valley today.

Please note that prices in Almaden typically peak each spring due to school year cycles and school district registration dates. 

Almaden Valley Real Estate Trends Through March 2024

What is your Almaden real estate worth? We will do a local analysis of your Almaden Valley property and keep you informed of the value of your home regularily with a tool that is more accurate than Zillow! Let's us know about your property and we will get details back to you.

The historical analysis of the Almaden Valley real estate trends below are updated yearly (above sections updated monthly).  

How has Almaden Valley real estate performed over the last several years?

With the extremely low inventory experienced in all areas of San Jose in late 2017 and early 2018 (see the yellow line in the chart below), Almaden Valley homes for sale experienced multiple offers.  This low inventory and strong demand spurred a quick increase in home prices,. In June 2018 inventory increased back to normal levels and sales slowed, shifting the intense market momentum, putting pressue on prices ending the year with a decrease of 21% from January.

Spring 2019 in Almaden Valley started off as a typical sales season with ramping inventory and increasing sales. In April 2019, inventory continued to increase as usual, but sales slowed down to the lowest number for April in the past 5 years, but prices still maintained at 15% increase.

2020 started off as an extremely healthy market with drastically increasing pending sales and a strong number of home sale closings. There was a small impact in the market due to COVID-19 Shelter-in-place (which started locally on March 17, 2020) but then Almaden Valley Homes for sale picked up again and held strong through the end of 2020. Prices were solid and appreciated slightly, 3.6% increase on average.

2021 started off with very low inventory and record low interest rates which led to an extremely strong number of sales. The low inventory started a supply and demand challenge and home price overbidding took off. 2021 ended with a 34% increase in prices.

2022 started off with extermely low inventory which could not keep up with the extremely strong number of sales fueled by record low interest rates. Multiple offers and overbidding became the norm which drove a 6.9% increase in the average prices of homes in just 3 months! (January to March 2022) Then historically fast-rising interest rates (never before have interest rates risen 3% in less than 12 months) and decreasing stock prices took many buyers out of the market. As you would expect, Almaden Valley real estate closed sales numbers reflected this adjustment, drastically decreasing below normal levels for July and August. With the backing up inventory of homes for sale in Almaden Valley, price pressure was put on sellers. The year ended with a slight 2.6% increase from January.

2023 had a slow start to Almaden Valley home sales with March finally picking up to closer to normal seasonal sales numbers. Then interest rates continued to climb pushing many buyers out of the Almaden Valley price range.  Sales therefore dropped but so did inventory to unusually low numbers.  Market prices dipped slightly during the holiday months. 

2024 has started off with low number of homes for sale in Almaden Valley which has already produced multiple offers for properties selling in January. If inventory continues to stay low for the demand, prices will appreciate nicely this year.

Why do Almaden Valley real estate prices fluctuate so much?

Almaden Valley home prices vary quite a bit month to month due the large range of sales prices (Under $1M to over $5M) and a low number of sales each month. To see the general direction of market prices, please refer to the fuchsia dotted line which depicts the 6-month rolling average of the median price.

To have a better understanding of the greater San Jose house price trends, please refer to the San Jose Housing Market data page.

For the current month market statistics and metrics, visit the raw data below or watch my monthly Almaden market update video.

What is your Almaden real estate worth? We will do a local analysis of your Almaden Valley property and keep you informed of the value of your home regularily with a tool that is more accurate than Zillow! Let's us know about your property and we will get details back to you.

Which direction is the Almaden Real Estate Trends heading?

Days of Inventory (DOI) is a monthly metric I follow to understand the speed and direction of the market.  Days of inventory is a simple calculation using the inventory and current rate of sales. This metric quantifies how long it would take to sell all available homes on the market.  As long as DOI stays under 60 days, prices are likely to continue slight appreciation.

 What is the Almaden Real Estate Market outlook for 2024?

The overall trend of the Almaden real estate market is positive moving forward.  Almaden Valley is a sought-after neighborhood for families looking for good public schools and an outdoor lifestyle. I expect Almaden real estate to appreciate in value in 2024, ending the year with ~8% year over year appreciation.

This prediction is based on the metrics below in conjunction with improving interest rates, and steady demand heading into the spring season of 2024.

High-tech-employed home buyers can afford Almaden Valley and many are going to the office only a few days a week.  The larger lots and views of the hills plus numerous corporate development projects in downtown San Jose (less than 10 miles away) continue to bring home buyers to the Almaden area.

Sellers who have lived in Almaden Valley more than 3 years are experiencing nice equity gains. If you are considering selling, keep in mind today's buyers are particular about finishes and home upgrades in Almaden Valley.  Today’s Almaden homebuyers are looking for clean, well-cared for and move-in ready homes unless the property is priced very aggressively.

Want to talk about what that means? Setup a 15 minute call with our team or considering selling in 6-12mos, then let’s plan the home prep now to get highest possible price when you are ready to sell! Read our tips to make an extra $10,000 to $20,000 when selling.