San Ramon CA Homes for Sale | San Ramon Market Update May 2015
The rate of increase in sales finally slowed in San Ramon in May. The number of homes available for sale had increased at a pace of five a month for the past several months, while pending sales had been increasing by nearly 15 units a month. The number of sales was still high but only increased by one unit from April.
65 homes were for sale at the end of May, up five from 60 at the end of April and one more than a year ago. 90 sales went to contract during May, one more than in April and two more than in May 2014. Closed sales, following the pace of pending sales in prior months increased 22% in May, from 63 in April to 77. A 0.7 month supply was available at the end of May, unchanged from April.
With demand being so strong, prices continued to climb in May. The median sales price increased 11% to $1,025,000 in May from $920,000 in April. The price per square foot dipped a little, from $420 in April to $414 in May. May’s sales were for 102% of the asking price, the same as in April. The other result of strong demand is that homes do not stay on the market as long. In May, homes were listed for an average of 11 days, down from 20 days in April.
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 a great time to be selling a home in San Ramon. There just is not enough inventory to satisfy demand and it is the sellers who have the advantage right now. Proper marketing and staging will be important to getting the most for your home. Being prepared to evaluate multiple offers and sift through the options will be critical. While multiple offers will be the norm, being extremely familiar with the Pleasanton market will be critical to get the most value out of your home.
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. Properties are not staying on the market long and multiple offers are the norm. Understanding the current market and your own strengths as a buyer will put you in a strong position to act on new listings. Intimate knowledge of the San Ramon market is critical.