San Ramon CA Homes for Sale | San Ramon Market Update September 2016
- Inventory continues slow decline
- Pending sales down
- Prices soften
- Demand strong for homes under $1 million
What we’re seeing in the San Ramon real estate market is a normal autumn pattern of declining sales and inventory, rather than a general weakness in the market. The trend toward a more balanced market continues as inventory remains substantially higher than a year ago, while pending sales are about the same. Prices showed some softening but homes still sod for an average of 99% of the list price in September.
The median sales price in September was $983,000, which was 5% lower than August’s $1,030,000but still 3% higher than September 2015’s $950,000. The price per square foot was also off a little, from $437 in August to $423 in September, which was higher than the $407 posted a year earlier. The ratio of the sales price to the list price was unchanged (from both last month and a year ago) at 99%. Homes have been staying on the market longer the past few months but this statistic actually fell two day in September, from 31 days in August to 29 days. A year ago, homes were listed for an average of 21 days.
Inventory fell from 102 properties at the end of August to 96 at the end of September. Only 74 homes were actively listed at the end of September 2015. 64 sales wet to contract during September, nine less than in August but two more than a year earlier. Supply relative to pending sales was little changed from August at 1.5 months.
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.