San Ramon CA Homes for Sale| San Ramon Market Update February 2017
- Inventory declines – surprisingly
- Very little supply under $1 million
- Pending sales up 50%
- 80% of pending sales over $1 million
Most of the action in the San Ramon real estate market was for homes priced at or above $1 million. That’s because there are very few homes for sale below that level. 75% of actively listed properties and 80% of pending sales were priced at $1 million or more. San Ramon and Danville bucked the trend of increasing inventory seen in the rest of the Tri-Valley. San Ramon’s inventory dipped 10% and there was just over a month’s supply available. Price indicators were mixed in February.
54 homes were for sale at the end of February, down from 60 at the end of January but up from 48 a year ago. Demand was very strong, with pending sales jumping 50%, from 32 in January to 48 in February. That compares to 46 a year earlier. Supply relative to sales fell from 1.9 months at the end of January to 1.1 months at the end of February. Time on the market fell form 36 days in January to 30 days in February.
February’s sales were for 98% of the average list price, compared to 97% in January and 101% in February 2016. January’s median sales price was $979,000, down from $1,078,000 in January and about the same as a year ago. The price per square foot increased 7%, from January’s $408 to February’s $437. One year ago, homes sold for $427 per square foot.
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.