San Ramon CA Homes for Sale | San Ramon Market Update September 2015
The slower pace that generally comes in the fall has hit the San Ramon real estate market. Inventory and sales have come off their summer peaks and both buyers and sellers are being more deliberate. Unfortunately, inventory continues to be a constraint on sales. Some properties are sitting on the market longer, while others receive multiple offers.
74 homes were available for sale at the end of September only one less than at the end of August. September’s inventory was on par with the 70 homes actively listed a year ago. Pending sales took a bigger hit, dropping from 73 in August to 63 in September, a 14% decline. However, September’s sales equaled those of a year earlier. Closed sales also fell 14%, from 76 in August to 65 in September. The sharp drop in sales resulted in the inventory level relative to pending sales increased from 1.0 month at the end of August to 1.2 months at the end of September. There was no change from August in the number of days homes were on the market (21).
September’s median sales price was $950,000, just slightly lower than August’s $955,000 but 9% higher than September 2014’s $875,000. The price per square foot also fell in September, down 4% from $425 to $408. September’s sales closed for 99% of the average list price, down from 100% in August but equal to a year ago.
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. Even though inventory is up, 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.