San Ramon CA Homes for Sale | San Ramon Market Update April 2017
- Activity remains brisk
- Inventory up 34%
- Pending sales up 10%
- About a one month supply
- Prices soften
April was not as hot for the real estate market in San Ramon as March but demand remained strong and activity brisk. Pending sales were up 10% from March. While that is nowhere near the 84% increase in March, it shows demand remains strong. More sellers moved into the market in April, driving inventory up 34%; a good sign for a market in need of supply. Prices did soften a little in April but the average sale was still for 100% of the list price.
The median sales price in April was $1,087,000, 3% lower than in March but 5% higher than a year ago. The price per square foot also slipped 4% from March. The sales price to list price ratio fell from 102% in March (and April 2016 also) to 100% in April. The price per square foot fell from $450 in March to $436 in April.
The fact that homes sold in an average of 21 days in April was a strong indication of demand. That was down from 24 days in March but slightly higher than 19 days a year ago.
90 sales went to contract in April, a 10% increase from 82 in March and 83% a year earlier. Inventory increased 34%, from 64 at the end of March to 86 at the end of April. 85 homes were actively listed at this time last year. Supply relative to pending sales stood at 1.0 month at the end of April, compared to 0.8 months at the end of March and 1.0 month at the end of April 2016.
The tables below provide further details on the current market compared to prior periods, as well as a look at different market segments.
Sellers: It is a great time to be selling a home in San Ramon. Inventory is tight and demand remains strong, 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 a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the San Ramon market will be critical to your success
Buyers: The current market is fairly balanced, especially compared to the previous few years. Prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. 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.