Just when I thought we were at the bottom in terms of active inventory of single family detached homes in San Ramon, it drops again.
In my last San Ramon Real Estate blog posted just one week ago, I mentioned that there were only 71 active listings in San Ramon. Well today I pulled the statistics again and low and behold there are now only 64 active listings in San Ramon forsingle family detached homes. Additionally there are 156 Pending sales. This gives us an incredibly low Inventory Absorption rate of .41 months, or less than TWO WEEKS! I believe that this trend will continue through the holidays and at least into the first quarter of next year. The trend downward of active inventory started about 1 year ago and is consistent throughout Contra Costa and Alameda Counties. This is fueled by a significant reduction in the number of Short Sale and REO properties being listed on the market.
Current San Ramon Statistics:
The average list price for the 64 active single family detached homes is $993,713 with the highest priced listing at $4,990,000 and the lowest priced listed at $375,000. The average price per square foot is $426 and the average days on market is 83. The average list price for the 156 pending sales is at $753,076 with the highest priced pending sale listed at $1,700,000 and the lowest at $315,000. The average price per square foot is $292 and the average days on market is 38.
