For the year 2013, there were 763 units sold in San Ramon up from 718 in 2012 a 7% increase. The highest number of units sold in San Ramon was in 2003, with 855 units. The difference then and now is the average sales price. In 2003 the average sales price was $636,555 and today in 2013 the average San Ramon sales price is $884,197, quite an increase.
In comparing the 2013 year end numbers to 2012, average sales prices are up 15%.
The average sales prices for 2013 are approaching the 2007 level of $918,871. As another side note, the interest rates in 2007 were on average 6.35%, yet unit sales were at 627. The expectation for 2014 is a little slower growth rate around the 3 to 5% appreciate range.
What does this mean. My interpretation is even though we are seeing interest rates rise, the activity in San Ramon home sales will remain strong. The key factors are the location and more importantly to many families the highly acclaimed San Ramon schools.