San Ramon CA Homes for Sale | San Ramon Market Update November 2015
The real estate market in San Ramon looks a lot like it did a year ago. Inventory is very low and sales are down because of it. Inventory is actually a little higher than it was in November of last year while sales are a little higher. Price is the one thing that looks very different than in November 2014, with all price indicators well above year-ago levels. Demand is strongest in the lower end of the market where the average home is still selling for more than the list price.
Only 41 homes were actively listed at the end of November, the fewest since January. November’s inventory was a 41% drop from 70 homes at the end of October but was still21% higher than November 2014’s 34. 43 sales went pending during November, 18 less than in October and two less than a year ago. That left a one month supply on the market at the end of November. The length of time homes were on the market has doubled from this summer – 16 days in June and 30 in November.
November’s median sales price was $1,009,000, up 5% from $964,000 in October. November’s median was 11% higher than a year ago. The price per square foot also increased, from $404 in October to $515 in November. That compares to $386 in November 2014. On average, homes sold in November for 99% of the list price, unchanged from October, as well as from a year ago.
The tables below provide further details on the current San Ramon CA market compared to prior periods, as well as a look at different market segments.
Sellers: It is still a great time to be selling a home in San Ramon. Inventory is down and there is still strong demand from buyers, especially for prime properties in excellent condition that are priced right. Proper marketing and staging will be important to getting the most for your home. While multiple offers are still occurring for some properties, having a highly competent agent who knows the San Ramon market will be critical to your success
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. While properties are staying on the market a bit longer, and there are fewer multiple offers, prime properties are still getting lots of attention and often see multiple offers. Having a professional Realtor who understands the San Ramon market and your own strengths as a buyer will put you in a strong position to secure the home you really want.