San Ramon CA Homes for Sale | San Ramon Market Update April 2016
The San Ramon real estate market was very hot in April. Both sales and inventory rose even faster in April than they had in February and March. Multiple offers were the norm for quality homes, especially those priced under $1 million, and those properties did not stay on the market for very long. Pricing remained stable, showing the strength in the market.
Inventory rose 42% in April, from 60 at the end of March to 85 at the end of April. 60 properties were on the market one year ago. Pending sales rose even faster at 48%. 90 sales went pending during April, compared to 61 in March and 90 in April 2015. Supply relative to sales slipped below one month by the end of April at 0.9 months. There was a one month supply at the end of March and 0.7 months a year earlier.
Closed sales also rose, following the rise in pending sales the past few months. 57 sales closed in April, up 27% from 45 at the end of March. April’s closed sales were below the pace of a year ago, when there were 68. April’s sales were on the market an average of 19 days, up from 14 in March and 18 a year ago but still below the benchmark of 20 days generally considered to indicate a hot market.
April’s median sales price was $1,030,000 just slightly below March’s $1,055,000 but well ahead of April 2015’s $944,000. The price per square foot was $444 in April, up from $436 in March and $422 a year ago. The average sale in April was for 102% of the list price, the same as in March, as well as a year ago.
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 remains low and there is 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 many 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. Prime properties are getting a great deal of attention and multiple offers. The result is that they don’t stay on the market long. 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.