The inventory levels for detached single family homes in San Ramon is now less than 2 weeks
What we are seeing in San Ramon is similar, but more extreme, to the falling inventory numbers throughout most of the state. As I mentioned in my Danville Real Estate blog, the inventory levels have consistently come down to the point where some buyers are opting to pull out of the market and wait. Some reasons for the limited inventory are that there has been a moratorium on foreclosures which has severely cut the numbers of foreclosed homes being listed. The banks are attempting more loan modifications now and this is serving to at least postpone many potential short sale listings, and many would be sellers are deciding that they do not want to sell when so much of their perceived equity has evaporated over the last few years. All of these things are magnified by the fact that there are many buyers trying to take advantage of low home prices, great interest rates, and a soon to be eliminated “First Time Home Buyer Tax Credit”.
Current statistics:
There are 80 active listings for detached single family home in San Ramon with an average list price of $940,284, a high of $4,990,000, and a low of $365,000. The average price per square foot is $404 and the average days on market is 62 days. There are 180 pending sales for single family detached homes in San Ramon. The average list price for these sales is $768,308 with a high of $1,700,000 and a low of $449,000. The average price per square foot for these pending sales is $291 with the average days on market of 45 days.
