Sales Prices for San Ramon Real Estate Flatten

The extremely hot San Ramon real estate market took a significant downturn in the median price for sold homes. Looking at the attached graph you will see that the sales prices for May 2010 are identical to that of May 2009. This is in spite of a significant upward trend in prices over the last year. In fact the median sales price dropped 8% from April to May. I do believe that this is more of a math issue though in that we saw a significant number of lower priced homes sell while there were far fewer higher priced homes on the market. Many of the sales are short sales while there are fewer foreclosures even being listed these days. I do expect both sales and prices to increase slightly through the summer months.

SanRamon_SoldPrice_May10