San Ramon CA Homes for Sale | San Ramon Market Update May 2016
- Inventory highest since March 2012
- Pending sales highest since July 2013
- Price indicators flat
- Days on market only 14 days
Like much of the Tri-Valley, San Ramon has seen both inventory and sales increase every month this year. In fact, both were higher in May than at any time in nearly three years. The rate of increase slowed, however, in May. Prices were virtually flat to April, as well as a year ago. And while homes that sold were not on the market for very long, the pace of activity was not as hectic. I expect the market will remain strong through the summer but I do not anticipate the large price increases that we saw month after month last summer.
92 homes were available for sale at the end of May, seven more than at the end of April and 27 more than a year ago. Pending sales increased from 84 in April to 90 in May, which was two less than in May 2015. Closed sales were up 18, from 60 in April to 78 in May. Inventory relative to pending sales was unchanged from April’s 1.0 month. That was, however, higher than May 2015’s 0.7months.
On average, sales in May took 14 days, five less than in April but two more than a year ago. The median sales price was up slightly, from $1,033,000 in April to 1,045,000 in May. One year ago, it was $1,042,000. The price per square foot fell slightly in May, from $444 in April to $439 in May. The average sale in May was for 102% of the asking price, unchanged from April, as well as May 2015.
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.