San Ramon CA Homes for Sale | San Ramon Market Update October 2017
- Inventory up slightly after five month decline
- Pending sales flat to October, well below year ago
- Both high and low end seeing good demand
- Pricing stays strong
After falling for five straight months, the supply of homes for sale in San Ramon actually increased by two units in October. We were still 40% below the level of a year ago, however. Pending sales were flat to September but were also lower than a year earlier. Demand remains very strong across market segments. Homes sold in October for their asking price, on average, and the median sales price and price per square foot both increased.
There was a 0.9 month supply available at the end of October, when 47 homes were actively listed. That was up from 45 at the end of September but was 41% lower than October 2016’s 79. Pending sales were unchanged from September’s 53, which was 12% lower than a year ago.
The average sale in October was for 100% of the list price and took 31 days. Time on the market was up significantly from September’s 19 days but was on par with that of a year ago. The median sales price increased 8%, from $1,101,000 in September to $1,185,000 in October, which was also 12% higher than October 2016’s $1,055,000. October’s price per square foot was $461, 3% higher than September’s $447 and 4% higher than a year earlier.
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 is very low and demand is 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 has been fairly balanced, especially compared to the previous few years but inventory is low and multiple offers much more common than in the past year. Prime properties, in particular, are getting a great deal of attention and multiple offers. 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.