San Ramon Real Estate activity for the month of April was brisk. New listings are down 37% as compared to 2011 during the same time period. Due to the low inventory and high demand of qualified buyers, we are experiencing a changing market. We are now in a Seller's market.
San Ramon Sellers Real Estate Market
While prices are not shooting up significantly, some homes are finding a new high with buyers bidding up the list price. Now some of this is due to the agents who will price them below market in an attempt to get multiple offers over list. This strategy over time will definitely lift real estate prices. Unfortunately, many first time home buyers looking in the lower price ranges in San Ramon, under $500,000 have few choices.
The average days on market right now in San Ramon is 47 with the average home price at $714,000 which is down 3% from the average price of $736,000 in March.
Here is a recap of the San Ramon home sales activity for April 2012 and year to date as compared to 2011.
This chart is a comparison by price range. As noted, the percent of buyers in the under $500,000 range is getting smaller due to fewer homes availabled at this price point.
Comparison of San Ramon home sales for 2012 versus 2011 by price range:
What is quite interesting to note is the sales in the $1 million dollar range - 2011 had 60% more homes sold in this range than 2012? That could be because homes in this price range were undervalued which became good buys. Another topic to research!
Buying or Selling in San Ramon call Linda Urbick 925-415-3046