San Ramon CA Homes for Sale | San Ramon Market Update May 2017
- Activity remains brisk
- But market not as hot as surrounding communities
- Pending sales down 1%
- Inventory down 12%
- Only 14 days on market
The real estate market in San Ramon saw strong demand in May, with homes selling in an average of only 14 days. However, the market was not as hot as others in the Tri-Valley, most of which saw pending sales jump in May. That’s not to say things were cool here. Prices held up and there was less than a month’s supply at the end of May.
Pending sales fell by one unit; from April’s 89 to 88 in May. Four less sales went pending in May than a year ago. Inventory fell 12%, from 86 at the end of April to 76 at the end of May, which was 17% less than May 2016’s 92. That left just under a one month supply available at the end of May (0.9 months), compared to 1.0 month at the end of April and 1.0 month at the end of May 2016.
Evidence of the strength of demand here was that homes sold in an average of only 14 days during May, down from 24 days in April and 15 days a year ago. In addition, the average sale in May was for 101% of the list price, up slightly from 100% in April. A year earlier, homes were selling for 102% of their list price.
May’s median sales price of $1,103,000 was 1% below April’s $1,115,000 but 5% higher than May 2016’s $1,055,000. The price per square foot was up 4%, from $436 in April to $452 in May.
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 very low and demand is 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 has been fairly balanced, especially compared to the previous few years but inventory is low and multiple offers much more common than in the past year. Prime properties, in particular, are getting a great deal of attention and multiple offers. 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.