San Ramon CA Homes for Sale | San Ramon Market Update October 2016
- Typical autumn
- Inventory drops 18%
- Demand remains healthy
- Prices steady
- Time on market steady as well
We typically expect inventory to decline this time of year and that is what happened in San Ramon during October. Demand remained steady, however, as sales did not fall during the month and prices held up very well. Time on the market fell by a few days but that was after falling by the same amount last month.
79 homes were actively listed at the end of October, down 17 from September’s 96. That was the lowest inventory level since February but was still nine units more than a year ago. Pending sales were little changed at 64 during October. 65 sales went to contract in September and 60 in October 2015. 68 sales closed during October, the same as in September and one more than a year earlier. The drop in inventory cut the supply relative to pending sales from 1.5 months at the end of September to 1.2 months at the end of October.
The average sale in October was for 99% of the list price, unchanged from September or a year ago. October’s sales closed in an average of 31 days, up from 28 days in September and 29 days in October 2015. The price per square foot increased from $425 in September to $443 in October, a 4% rise. One year ago, the price per square foot was $403.
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.