I recently read an article in "Realtor Magazine" Titled "An Uneven Housing Bottom".
Apparently several analysts believe that there are pockets where the market is still declining, which makes housing recovery not equal across the Country.
In order to understand my marketplace and where we stacked up against the National averages, I did some research on the stats quoted in the article as a comparision.
National Numbers as reported by NAR:
- June pending sales dropped 1.4% as compared to May. Year to date pending sales are up 10% as compared to the same time frame in 2011.
- Closed sales dropped 5.4% in June from May - year to date sales are up 4.5% as compared to 2011
In the San Ramon-Danville real estate market, inventory is less than a month so it is hard to get a reading on what the true numbers are. Because of such low inventories, many homes are receiving multiple offers anywhere from 3 offers up to 17+ offers. What this tells me is the number of pending sales would be significantly higher if there was one or even two offers for every property on the market.
The San Ramon and Danville pending sales for June were down significantly, not because the market is slowing down, but I believe due to availability of homes. This may also be true in other areas so the numbers cited above may not be accurate. 53 of the 104 homes listed in June were sold in June (pending).
Here is a recap Danville and San Ramon home sales year to date:
As is shown for home sales for both Danville and San Ramon thru June are up over the same period in 2011. And again the number would be higher if the supply could meet the demand.
Buying of selling in Danville or San Ramon, Call Linda Urbick 925-415-3046.
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