San Ramon CA Homes for Sale | San Ramon Market Update August 2016
- A more normal, balanced market
- Inventory dips but remains high
- Pending sales rebound
- Prices steady
- Days on market rises
The San Ramon real estate market showed there is still a great deal of demand here with a 25% increase in pending sales after dropping sharply the past two months. Inventory slipped a little but is still higher than it has been since 2012. Price indicators were mixed but mostly steady. Homes are also staying on the market longer. After bottoming out in April, time on the market continues to climb.
102 homes were actively listed at the end of August, five less than at the end of July. 75 homes were on the market a year ago. Pending sales increased 25%, from 60 in July to 75 in August, versus 73 in August 2015. The average home sold in August was on the market an average of 32 days, compared to 22 days in July and 21 days a year ago.
August’s median sales price fell 2%, from $1,058,000 in July to $1,039,000. August 2015’s median price was $955,000. Homes sold for 99% in August, down from 101% in July and 100% a year ago. The price per square foot increased $5 in August, from $430 in July to $435 in August. A year ago the price erp square foot was $424.
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 still a great time to be selling a home in San Ramon. Although inventory is higher than we have seen in a while, demand remains 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 is more favorable to buyers than we have seen in a while. However, prime properties are still getting a great deal of attention and even multiple offers on occasion. 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.