The current statistics for single family detached homes in San Ramon show a very definite sellers market, so why are many homes not selling?
The current inventory absorption rate in San Ramon is at .3 months, which is about 1 week. This means that on average if no other homes were listed all of the available inventory would be sold in 1 week. What is interesting is that the average days on market for the 48 active homes is at 103 days, Why? You really need to look at the prices of the homes that are actually selling. The average price per square foot for the active listings is at $454 with an average list price of $963,191. When you compare these figures to those of the Pending sales the difference is staggering. The average price per square foot for the 156 pending sales of single family detached homes in San Ramon is at $292 with an average list price of $776,064. What this means is that buyers are jumping on the homes with perceived “Value” pricing. Interestingly enough many of the lower priced homes are seeing multiple offers and are actually selling well above the low asking price. I am not recommending that people put Lowball prices on their listings but I do recommend that people price their homes competitively and even price their homes to sell at 2-3 percent below comparable sales. This strategy should provide a much higher level of activity.
Current statistics for San Ramon real estate:
There are 48 active listings in San Ramon with an average list price of $963,191. The highest priced listing is at $4,990,000 and the lowest at $354,000. The avereage price per square foot is at $454 and the average days on market at 103 days. There are 156 pending sales in San Ramon with an average list price of $776,064. the highest priced pending sale is listed at $1,798,000 and the lowest at $315,000. The average price per square foot for these pending sales is at $292 and the average days on market of 37.
