San Ramon CA Homes for Sale | San Ramon Market Update October 2015
The San Ramon real estate market looks a lot like a Dalmatian – spotty. Some homes are seeing a great deal of interest, while others stay on the market longer. The activity is driven by location and price and is often specific to a given home rather than the neighborhood or price range. Generally, demand weakened in October, with both inventory and sales falling. Homes stayed on the market a little longer than in September, with little change in prices.
The inventory of homes for sale fell from 74 at the end of September to 70 at the end of October. Inventory relative to pending sales was unchanged at 1.2 months. Pending sales fell for the fourth straight month. 58 sales went to contract in October, down five from 63 in September. That was still 24 more pending sales than in October 2014. Seven fewer sales closed in October (62) than September (69) and 10 less than a year ago. ON average, homes were on the market an average of 26 days in October, up from 21 days in September but less than October 2014’s 33 days.
The median sales price in October was $964,000, $14,000 higher (1%) than in October and $67,000 higher (7%) than a year ago. The average sale was for $403 a square foot in October, down from $406 in September but well above October 2014’s $379. September’s closed sales were for 99% of their average list price, unchanged from September but higher than a year ago (97%).
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.