The market for resale detached single family homes in San Ramon continues to be hot.
With an inventory absorption rate of a very low two weeks we are seeing many homes sell within a week with multiple offers that are over asking price. In speaking first hand with buyers the consensus is that the prices are either at or near bottom. In fact prices seem to be inching up at the lower price points. Additionally the First Time Home Buyer Tax credit is providing a very good incentive for first time home buyers along with very low fixed rate interest loans. There is some talk that interest rates will be starting on their way up soon and that at this same point next year we may see rates approaching 7-8%. Congress has yet to decide whether or not to extend the First Time Home Buyer Tax Credit through next year so as of now it expires on Novermber 30 of this year.
Current San Ramon statistics:
There are currently 89 active listings for detached single family homes in San Ramon. The average list price for these homes is $943,214 with a high of $4,990,000 and a low of $365,000. The average price per square foot is $399 and the average days on market is 71. There are 174 pending sales in San Ramon with an average list price of $767,203 and a high of $1,700,000 and a low of $370,000. The average price per square foot for these pending sales is $290 and the average days on market is 49.
